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NEW YORK | 138 East 50th ST | 502 FT | 52 FLOORS

Permits Filed: 138 East 50th Street

The first DOB filings are up for yet another major new development in Midtown, at 138 East 50th Street. According to the New York Post, Extell bought the site for $61 million in 2012, but The Real Deal reported that Ceruzzi Properties acquired the site from Extell last August, though the last transaction’s dollar value was not specified.

Permits list SLCE as the architect of record, and the new tower will be a relatively large hotel, totaling 220,638 square feet. Plans include a 7,036 square foot retail component, and above, the 52-story skyscraper will be divided between 764 rooms, and 138 East 50th will stand 502 feet to its roof.

Renderings are currently lacking, but in terms of appearance, the project is likely to be average. Whether SLCE is the design architect remains to be seen, but the filings indicate relatively low ceiling heights, in addition to small rooms; while the product will seemingly fall below the super-luxury threshold, that is a good thing, as demand for more affordable new hotel rooms in Manhattan continues to soar.

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http://www.yimbynews.com/2014/06/permits-filed-138-east-50th-street.html