NEW YORK | 655 Madison Ave | 1,162 FT | 74 FLOORS

[NYguy]

So, it seems another one will be coming down for a new tower.

This site is just west of Stern’s 520 Park Avenue.


https://commercialobserver.com/2024/04/colliers-michael-cohen-filling-space/

BY DAVID M. LEVITT
APRIL 16, 2024

Cohen
We’ve emptied out a building in the Plaza District. SL Green (SLG) had 625 Madison, ours is a stone’s throw away at 655 Madison.

We’re going to see those buildings get torn down and replaced probably by a mixture of retail, hospitality, and residential. And I don’t have to tell you that all three of those uses are very desirable in the Plaza District.

[NYguy]

[streetscaper]

Awesome!

[Crawford]

Wow. Madison Ave. & 60th Street is about as good as it gets. Will undoubtedly be a superluxury condo with flagship retail at the base.

Hopefully a landmark supertall.

[Busy Bee]

I hope they could also grab 33 E 60. Having the new tower bookend those three inset old walkups would look much better than leaving that one projecting forward like that with the blank wall.

[ChiND]

I’d like to see all of the junk between this site and 520 Park razed.

I had hoped that it would come down when 520 Park was built.

[Busy Bee]

I think it's likely 520 has some air rights ownership of some or all of those old walkups.

[ChiND]

Originally Posted by Busy Bee

I think it's likely 520 has some air rights ownership of some or all of those old walkups.

I thought that 520’s air rights came from The Grolier’s Club and from Christ Church.

[NYguy]

I don't mind those small buildings creating a buffer between 520, and keeping some of that New York City streetscape that everyone seems to want left untouched.

[ChiND]

They look crappy though, even though they received a bit of lipstick when 520 Park was built.

Only one of the four has nice details.

[Busy Bee]

Best scenario is the three that are uniform and set back stay and receive full restorations. The one to the west that sits forward with the lousy blank wall gets bought and incorporated into the new tower lot.

[streetscaper]

Originally Posted by NYguy

I don't mind those small buildings creating a buffer between 520, and keeping some of that New York City streetscape that everyone seems to want left untouched.

Agreed!

[Xing Lin]

If 520 Park didn't have the air rights of those buildings, wouldn't its western facade have needed to be completely windowless as it's on the lot boundary?

[Busy Bee]

^ It is windowless up to a certain height. Whether that means 520 has air rights or not I don't know.

[Crawford]

I'm wondering if there might be another major upcoming Madison Avenue tower.

635 Madison Avenue, which is underbuilt, and on a super-prime block, is about to be sold off:

Billionaire developer Ben Ashkenazy loses Madison Avenue office building to foreclosure
https://www.crainsnewyork.com/real-estat...kenazy-loses-635-madison-ave-foreclosure

[ChiND]

That would be nice. That building is —. It has a pretty small footprint, so I don’t think that it would be a supertall like Related’s planned building nearby.

I wonder if it has a lot of medical tenants with long leases though.

[NYguy]

Could be the makings of another billionaire’s row, though we all know Park Avenue is the true billionaire’s row.

[NYguy]

Was just a matter of time…..


https://www.crainsnewyork.com/real-estate/midtown-office-tower-655-madison-ave-slated-demolition

655 Madison slated for demolition





EDDIE SMALL
August 19, 2024

A Manhattan developer seems to have big changes in mind for one of its office towers.

[NYguy]

[Hudson11]

maybe a nice wedding cake once upon a time, but now just a glassy monster like the Grand Hyatt.