The Real Deal New York

Renderings show Fortuna Realty’s Midtown tower

Morris Moinian's firm paid $39M for Sixth Avenue site that will house a 37-story hotel
August 18, 2014 09:00AM

A first glimpse of Morris Moinian’s Midtown development is now available.

Moinian, principal and founder of Fortuna Realty Group, paid $39 million for the Pan American Magazine Building on Sixth Avenue in 2012, and plans to build a 37-story luxury hotel on the site.

According to New York YIMBY, groundbreaking for the project, which is located between 44th and 45th streets, is expected in 2015.

New development on surrounding blocks includes Extell’s International Gem Tower at 50 West 47th Street, a new Hyatt at 135 West 45th Street and the recladding of 1095 Sixth Avenue. [NY YIMBY] — Claire Moses