Apparently, the residential tower will start soon.
In 2017, Spitzer Enterprises and Related Companies announced a partnership to develop a two-tower, 1.4-million-square-foot project at that site.
The proposed 580-foot-tall development will yield 414,634 square feet, with 267,915 square feet designated for residential space, 113,513 square feet for community facilities, and 33,205 square feet for commercial use. The tower will have 526 residences, with an average unit scope of 509 square feet.
Another great scoop by Yimby!
Shame Spitzer didn’t seem to make a big push to buy Hudson Mercantile (the brick and steel low-rise next door) which will be losing a big portion of it Southern and Western views thanks to this.
So if I’m understanding correctly, there’s still roughly a million square feet left of the total 1.4M planned, meaning the second tower should be really substantial. Or have they not actually acquired all those rights?
The loans are from M&T Bank, and are split between a roughly $203 million mortgage and a $73.1 million mortgage for 451 10th Avenue, according to property records.
[…]Last week, Related and Atria Senior Living — along with Spitzer and real estate investment trust Welltower Inc. — said it had closed on a partnership at the property. Development began late last year and is expected to be completed in 2022.
That tower in the image looks like a supertall. Is that the second planned tower?
It’s from several years ago so I think it’s just another outdated rendering from before the Spitzer/Related teamup. I’m expecting another glass box for phase 2.