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$300M new west side office condo rising

A new office tower is planned for a block front property on the West Side Highway at 51st and 52nd Streets. A partnership led by Jack Guttman and Steve Schwartz is building the nine story 200,000 s/f tower at a cost of $300 million. Featuring waterfront views, it will be built as an office condominium, similar to the Chelsea Arts Tower.

july9newtower

“This is an outstanding midtown location and we found that many companies would rather invest in their own office space rather than be a tenant with constant rent increases,ˮ said Guttman. “The location and design are perfect for companies seeking full floor ownership.”

The building will have 35,000 s/f of ground floor retail and individual floors from 30,000 to 15,000 s/f. All floors will have 15 ft. ceilings, some will have balconies and roof terraces, and there will be underground parking.

With Kenneth Cole, Prada, Mercedes and Porsche on the same street, the area has proven to be attractive to fashion and media companies.

The building includes new television studio spaces with 30 ft. column-free space crafted to suit studio and post production operations. Also there will be a rooftop event space.

Designed by Kossar and Gary Architects, the design is described as “modern and bold.ˮ Leasing and sales are being handled by Alan Weisman of Lee and Associates.

Guttman’s Chelsea Development Group previously developed the Chelsea Arts Tower, the first new construction commercial condominium, and both partners recently completed the Gotham Mini Storage facility in midtown.

The project intends to deliver floors the first quarter of 2016.

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