The Real Deal New York

Posts Tagged ‘425 park avenue’

  • Renderings of 425 Park Avenue

    Renderings of 425 Park Avenue in Midtown (credit: Foster + Partners)

    L&L Holding’s planned skyscraper at 425 Park Avenue, which will break the four-decade-long freeze on the architecturally-renowned street’s new office construction, is being built entirely on spec, with no tenants signed. [more]

  • From left: 425 Park Avenue now and a rendering of the planned tower

    From left: 425 Park Avenue now and a rendering of the planned tower

    The Department of Buildings has given L&L Holdings the green light for a planned 42-story tower at 425 Park Avenue. [more]

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  • From left: David Levinson and 425 Park Avenue

    From left: David Levinson and 425 Park Avenue

    Despite the crash and burn of the Bloomberg administration’s Midtown East rezoning plan, L&L Holding’s 41-story office tower at 425 Park Avenue is moving full steam ahead. [more]

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  • 425 Park Avenue

    Lehman Brothers is looking to sell its 90 percent stake in 425 Park Avenue, the Wall Street Journal reported. The 31-story, 567,340-square-foot building, located in Midtown East, is slated to be demolished and replaced with a 650,000-square-foot Norman Foster-designed office tower  being developed by L&L Holdings, which owns the remaining 10 percent stake in the current building. [more]

  • Zaha Hadid

    From the South Florida siteWorld-renowned architect Zaha Hadid will be designing her first skyscraper in the Western Hemisphere, at 1000 Biscayne Boulevard in Miami, The Real Deal has learned. The starchitect made news this summer in New York after she was named a finalist for the redevelopment of 425 Park Avenue. She was in the running with other high-profile architects Rem Koolhaas, Norman Foster and Richard Rogers. Foster was selected. [more]

  • From left: Norman Foster, a rendering of 425 Park  (credit: dbox branding & creative for F+P), 425 Park now (credit: Property Shark) and David Levinson

    The New York Observer today looks into the logistics behind selecting the winning firm, Norman Foster’s firm, Foster + Partners, for 425 Park Avenue. And, apparently, choosing a winning design for the 650,000-square-foot office tower was no ordinary contest.

    “Things we knew early on about the Foster organization, it’s a very deep bench with a great deal of knowledge about office buildings,” David Levinson, chairman of L&L Holdings, told the Observer. “There is an emphasis on function, the techtonic aspect, but also an emphasis on form, how it fits into the Park Avenue context and makes an impact.” [more]

  • From left: Norman Foster, a rendering of 425 Park Avenue and L&L Holdings Chairman David Levinson (credit: dbox branding & creative for F+P)

    Pritzker Prize-winning starchitect Norman Foster’s firm, Foster + Partners, was selected to design the 650,000-square-foot office building that will be constructed at 425 Park Avenue, Crain’s reported. Construction is set to begin on the first full-block office project on the Park Avenue Midtown stretch in almost 50 years in 2015, and is slated to be completed two years after that. [more]

  • From left: L&L Holdings Chairman David Levinson, Rem Koolhaas, Norman Foster, Zaha Hadid, Richard Rogers and 425 Park Avenue (credit: PropertyShark)

    Four high-profile finalists will compete to design an office tower to rise at 425 Park Avenue. Norman Foster of Foster & Partners, Rem Koolhaas of OMA, Zaha Hadid of Zaha Hadid Architects and Richard Rogers of Rogers Stirk Harbour & Partners have been selected to present their proposals to the developer, L&L Holdings, the New York Times reported. The finalists were chosen from 11 architects that L&L had reached out to in the spring. [more]

  • L&L Holdings Chairman David Levinson and 425 Park Avenue

    L&L Holdings will have to wait until 2015 before it can begin developing Park Avenue’s first new office tower in more than 30 years. According to the New York Post, that could be a blessing. The Bloomberg administration has begun pushing a rezoning of office buildings in the Grand Central area that would lift restrictions on new buildings. [more]

  • From left: David Levinson and 425 Park Avenue

    David Levinson, chairman and CEO of L&L Holding, told the New York Times that he has a positive outlook on the Manhattan office market. With improved vacancy rates and increased rents, he said, “business has gotten better.” Indicative of this is L&L’s new development at 425 Park Avenue between 55th and 56th streets.

    Levinson told the Times that he plans to demolish 75 percent of the building to leave a podium on top of which a new structure will be built. The design will be column-free, there will be floor-to-ceiling windows and it will be LEED Platinum or Gold . [more]

  • L&L Holdings Chairman David Levinson and 425 Park Avenue (building credit: PropertyShark)

    L&L Holdings has taken a major step towards erecting the first new office tower along Park Avenue in more than 30 years. The Wall Street Journal reported the firm has reached out to 11 big-name architects, including three Pritzker Prize winners, for design ideas on a new skyscraper at 425 Park Avenue, between 55th and 56th Streets. [more]

  • From left: 425 Park Avenue, Ilan Bracha, chairman at Keller Williams NYC (note: correction appended) and Jeffrey Rosenblatt, senior managing director at Newmark Knight Frank

    [Updated at 3:12 p.m. with comment from Newmark Knight Frank] More details have emerged regarding Keller Williams NYC’s new 25,000-square-foot space down the street from its existing offices.

    The residential brokerage got a “great deal” on their sublease at 425 Park Avenue last month, according to Jeffrey Rosenblatt, senior managing director at Newmark Knight Frank, who represented both Keller Williams and the sublandlord, Lebhar Friedman, in the transaction. The firm also has an option to take another 10,000 square feet in the space in the event of further expansion, a spokesperson for Keller Williams said. [more]

  • Harry Macklowe’s Drake Hotel site at 440 Park Avenue may be the most valuable development site in New York City, according to a recent list compiled by the New York Observer. It is closely followed by David Levinson’s 425 Park Avenue and the World Trade Center site, in positions two and three respectively. 

    The Observer’s list, made in honor of a slew of recent development following a slow start to the year, was compiled using data from Cassidy Turley, Co-Star and its own reporting. 

    Bringing up the rear of the list in positions nine and 10 are Boston Properties and Related project 740 Eighth Avenue and a 100,000-square-foor glass tower at 450 West 14th Street, atop the High Line.  … [more]

  • New York-based pension fund TIAA-CREF has bought control of the land beneath 425 Park Avenue for $315 million, according to city records. The land was previously owned by the Goelet family, a major New York landowner in the early 19th century, Real Estate Weekly reported.

    The deal comes less than a week after the fund’s purchase of the Corner, the Upper West Side rental tower that opened last year at 72nd Street and Broadway, for $209 million.

    At 425 Park, though, the fund will only have ownership of the land itself. … [more]

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