701 Seventh Avenue will stretch 270,000 square feet

New York /
Dec.December 17, 2013 02:58 PM

New details on a much-discussed development at 701 Seventh Avenue have been revealed.

The project, located on the northeast corner of West 47th Street, will span almost 270,000 square feet, thanks to a transfer of air rights from Two Broadway sites, at 222 West 45th Streetand 236 West 45th Street. The resulting structure will be anchored by a Marriott Edition hotel and reach 39 stories, or 500 feet tall. The hotel portion will have roughly 203,532 square feet, with 66,360 square feet of retail scattered among the five lower floors. On the front of the building, more than 12,700 square feet of lighted signs will be permitted.

Manhattan’s Community Board 5 unanimously endorsed the air rights transfers in a letter to the Department of City Planning, according to the New York Post.

Though pre-demolition is already underway, none of the details appear to be carved in stone, and no plans are yet on record with the city Department of Buildings, the Post reported.

A venture between Steven Witkoff and Michael Asner purchased 701 Seventh Avenue for $430 million in late 2012. [NYP, 3rd item]Julie Strickland


Related Articles

arrow_forward_ios
Howard Lorber and Steve Witkoff (Getty, iStock)
Lorber, Witkoff launch $250M SPAC
Lorber, Witkoff launch $250M SPAC
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
ASAP Holdings CEO Frank Yuan and LaGuardia Marriott
LaGuardia Marriott and development site combo sell for $100M
LaGuardia Marriott and development site combo sell for $100M
Marriott International CEO Arne Sorenson (Getty)
Marriott CEO Arne Sorenson, who pushed worldwide expansion, dies
Marriott CEO Arne Sorenson, who pushed worldwide expansion, dies
525 Lexington Avenue and Deka bank CEO Michael Rüdiger (Photos via Google Maps, Getty Images)
German lender forecloses on East Side Marriott hotel
German lender forecloses on East Side Marriott hotel
Charles Koch of Koch Real Estate Investments and 2777 South Las Vegas Boulevard (Getty, iStock)
Koch buys Las Vegas casino development
Koch buys Las Vegas casino development
325 West 33rd Street and Magna Hospitality CEO Robert Indeglia (Google Maps; Magna Hospitality)
Wells Fargo sells Penn Plaza hotel leasehold mortgage for $51M
Wells Fargo sells Penn Plaza hotel leasehold mortgage for $51M
Steve Witkoff and 4766 North Bay Road (Getty, Douglas Elliman)
Steve Witkoff buys waterfront Miami Beach lot for $8M
Steve Witkoff buys waterfront Miami Beach lot for $8M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...