Development black hole remains on West 57th Street – Business News
If West 57th Street between Sixth and Seventh avenues exemplifies Manhattan’s regenerative power, the block east between Fifth and Sixth avenues remains a black hole of development ambition.
The 900-foot-long block — longer than three and a half midtown north-south blocks — seems gloomier yearly as landowners maintain out for magic-bullet combos of tenant commitments and construction financing.
West of Bergdorf Goodman and the Crown Building stretches a procession of vacant heaps, empty storefronts and scaffolding. At least 4 huge websites await exercise. Developers together with Vornado, Lefrak, Soloviev, and at the very least one unknown outfit have saved their websites barren for years.
There is a string of vacant heaps, empty storefronts and scaffolding on West 57th Street west of Bergdorf Goodman and the Crown Building. New York Post
At least 4 huge websites await exercise. New York Post
The newest blows to the block have been the closings of Brasserie 8 and a Half at Soloviev’s 9 West and Rue 57 on the western nook. The opening quickly of a small Abel Richard purses boutique at 7 West is more than offset by giant retail vacancies on both aspect of Nobu at 40 W. 57th and on the former areas of Mangia and different retailers and cafes.
Manhattan-based developer Sedesco, in the meantime, is demolishing a building to enlarge a website it’s been assembling for more than 10 years between 37-47 W. 57th St.
The supertall, mixed-use project is to be designed by “starchitect” Rem Koolhaas’ OMA studio. It will probably re-energize its environment. But no construction plans have but been filed with the Department of Buildings.
