Tallest freestanding crane in NYC history arrives in Midtown at 111 W. 57th Street

220-foot-tall crane at work on JDS, PMG development

TRD New York /
Jul.July 14, 2015 12:20 PM

The tallest freestanding crane in the city’s history is on-site at JDS Development Group and Property Markets Group’s 111 West 57th Street in Midtown.

The 220-foot-tall crane will help the SHoP Architects-designed tower reach its targeted height of 1,428 feet – about 30 feet taller than Macklowe Properties and CIM Group’s 432 Park Avenue, but 100 feet below the roof height of Extell Development’s Nordstrom Tower at 217 West 57th Street.

At only 60 feet wide, the 80-story building will join the ranks of pencil-thin skyscrapers that look to transform the city’s skyline. Pricing for 60-unit building’s ultra-luxury condos will start at $14 million, according to New York YIMBY. The tower is slated for completion in 2017.

JDS and PMG recently secured a $725 million construction loan for the project from AIG and Apollo Global Management. The development’s majority investor, real estate investment firm Ambase Corp., limited financing and initiated talks to reduce its stake in May, The Real Deal reported. [NY YIMBY]Rey Mashayekhi


Related Article

arrow_forward_ios
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

565 Broome Street (Credit: iStock and 565 Broome Street)

Only in Manhattan? Luxury condo owner files “class action” because unit doesn’t have a wine cooler

From left: 220 Park Avenue South, 15 Central Park West, 520 Park Avenue, 35 Hudson Yards, Sting, Juan Beckmann Vidal, Daniel Och, Bob Diamond, and Stephen Ross (Credit: Getty Images, Wikipedia, StreeEasy, and Google Maps)

Serial buyers trade “old” condos for new on Billionaires’ Row

Former Bear Stearns CEO Jimmy Cayne and 510 Park Avenue (Credit: Getty Images and Google Maps)

Ex-Bear Stearns CEO James Cayne demands co-op records after board rejects 3 buyers

Kelly Killoren Bensimon went from modeling to “The Real Housewives.” Now she’s taking a crack at real estate.

Sam Chang and 40 West 45th Street (Credit: Google Maps and iStock)

Sam Chang can now purchase 160 elite racing pigeons

15 Central Park West and Och-Ziff Capital Management founder Daniel Och (Credit: StreetEasy and Getty Images)

Daniel Och wants $12K a foot for his 15 Central Park West penthouse

From left: Vornado’s Steve Roth, 220 Central Park South, and 1110 Park Avenue (Credit: Getty Images, iStock, and StreetEasy)

These are the most notable resi sales around NYC last week

arrow_forward_ios