Hines Development named Corcoran Sunshine Marketing Group the exclusive sales and marketing agency for a stalled recession-era plan to build a 1,050-foot residential tower next to the MoMA in Midtown. Updated plans, scaling back the height from 1,250 feet, were approved recently by the City Planning Commission in a rare sign of activity on the project, Crain’s reported.
“Corcoran Sunshine has always had a great relationship with Hines, a longtime client of the firm, and for the past several years we’ve been working on the planning and design of this landmark property,” Corcoran Sunshine president, Kelly Kennedy Mack, said. “It will be the ultimate destination for the world’s most elite buyers.”
The planned 78-story Jean Nouvel-designed building at 53 West 53rd Street between Fifth and Sixth Avenues will consist of 480,000 square feet of apartments atop a 92,000-square-foot hotel and include space for a the MOMA and a restaurant. The property was purchased five years ago for $125.5 million, according to public records. [Crain’s]