[Fabb]

The large-scale luxury condominium market contributed to the resurgence of far West 42nd Street, and several high-rise condo towers are now under construction.

Demolition is expected to start this month at 605 West 42nd Street, where the Moinian Group and investor MacFarlane Partners plan to build a mixed-use tower with two peaks that include 1,000 rental and condominium units. Also this month, Moinian is anticipating move-ins at Atelier, his recently completed neighboring condo building at 635 West 42nd Street.

Developer Larry Silverstein is working on River Place II on far West 42nd Street, which will accompany the 900-unit rental River Place I, erected in 2000. River Place II, a massive 57-story rental tower with 1,550 units at 600 West 42nd Street, will be one of the largest rental developments seen in recent years. Construction is expected to begin this month, according to Dara McQuillan, a spokesperson for Silverstein Properties.

The Related Companies, Twining Properties and MacFarlane Partners are working on a mixed-use development, including rental apartments, at 440 West 42nd Street between Ninth and 10th avenues. The Dermot Company and Archstone-Smith are working on the Mosaic, a mixed-use project with two primarily high-end luxury rental towers spanning from 51st to 53rd streets along 10th Avenue. The Witkoff Group is reportedly constructing a mixed-use rental development at 44th Street and Eighth Avenue.

Full article (January 2007...)