The condo tower rising at 432 Park Avenue may be the most fascinating development project in the city. Sure, it can boast of being the tallest building rising in the city at the moment, to an eventual height of 1,397 feet (29 feet higher than the roof of 1 World Trade Center). It is also set to be the most expensive. But even more so, it is the secrecy of the building’s developers, CIM Group and Harry Macklowe, that make the project all the more intriguing.
Very few details about the project have been released, and none of them publicly. Even renderings are clandestine. Which is why it is amazing that not one or even two but three different skycams have been whirring away at the site for the past year, showing it off in real-time, free for anyone to look—except that no one thought to.
So we are obsessed with the changing skyline along 57th Street, so we are always excited and intrigued by new renderings that pop up for it. The latest may also be the greatest, and while 432 Park Avenue is nothing new, the pic that ran in The Times today gives the clearest indication yet of just how big this spindly behemoth will be. At 1,397 feet, the ritzy condo building surpasses 1 World Trade Center, less its spire, by 29 feet, boasting by some measures the biggest building in New York status.
Love the Drake!
It’s ICSC week in New York City and while many in the retail business consider the event secondary to the larger conference held by the organization in Las Vegas each May, for many Manhattan real estate brokers, the conference is the most important of the year—and not necessarily just because of its jam-packed daytime roster of speakers and seminars.
In establishments from the New York Times’s four-star-rated Del Posto to the Dream Hotel in Lower Manhattan, buttoned-up retail brokers will be wining and dining potential clients during a two-day orgy of after-hour soirees, dinners and suds-soaked meetings, all designed with the deal in mind.
Love the Drake!
It has been arguably the most watched development site in the city for the past few years, and all the moreso now as Harry Macklowe and his new partners at CIM prepare to build something on the former site of the Drake Hotel. Even though both developers eschew press, details have dribbled out Read More
Love the Drake!
A few weeks ago, The Observer took a stroll around the Drake Hotel site and noticed an orange crane poised in the northwest corner. That was just the first in a series of signs that the developers are moving ahead on one of North America’s most valuable development sites.
Insiders told The Observer Read More
Developers are moving forward with super-secretive plans to begin construction on the most valuable development site in North America.
A team led by the California-based CIM Group has filed an application with the Department of Buildings to begin construction on the site, at Park Avenue and 57th Street where the Drake Hotel once was, according Read More
Life is stirring again at the ghostly Drake Hotel site.
With financing for development sites still virtually frozen, CIM Group has received a $30 million mortgage from Pacific Northwestern Bank on the former home of the Gilded Age hotel, according to public records.
As The Observer reported in February, the spot at Park Avenue and 57th Street is likely the only existing development Read More