510 Madison Avenue @ East 53rd Street - by Moed De Armas & Shannon

[Merry]

York City's Nicest 30-Story Empty Tower

December 10, 2009, by Sara



Crain's filed an update late yesterday on a rare Curbed commercial favorite, the roasted-but-not-done 510 Madison Avenue. Begun at a time when hedge funds had, well, funds, and perhaps inspired by developer Harry Macklowe's original condo-hotel plan for the site, the building has a 20-yard swimming pool. But only one tenant (an investment firm) has signed on to swim in it, and that tenant wants out. Nor is that the building's only problem: Crain's reports that SL Green Realty Corp. has purchased 510 Mad's senior construction loan for an unknown price (original worth: $185 million), which could be the first step in taking over the building from Macklowe Properties. After unmet promises of completion last summer, word is that the tower is supposed to open next year. We're penciling it in -- maybe we can be the first ones into the pool this time.

SL Green snaps up loan on 510 Madison [Crain's]
510 Madison Avenue coverage [Curbed]

http://curbed.com/archives/2009/12/1...mpty_tower.php

[RoldanTTLB]

Here's a recent update since I got a chance to take a sweet photo of the building. It looks like they've cleaned up from the fire...

[Derek2k3]

This is a nice building.

[londonlawyer]

Based on Macklowe's website, practically no one has leased offices in this tower. That's awesome! I hope that the filthy skank loses this one too!! I will be happiest though when he loses the Drake and a real developer builds a masterpiece that will make up for Skanklowe's destruction of the Drake. I hope that Hines and Noveau take over the Drake site!

What a creep!

I predicted this one in 2007 before the mega-meltdown in the fall of 2008.

[Derek2k3]

Where's waldo?

Larger: http://farm2.static.flickr.com/1035/...21b5bbfd_b.jpg

You can see how the Citigroup Tower is floodlit.
andrew mace

Larger:http://farm5.static.flickr.com/4074/...85631aca_b.jpg

andrew mace

[Derek2k3]

This is actually a beautiful tower.

[RoldanTTLB]

I like it very much. The view of it looking down on it is really nice too. It's a very solid international style for an area with quite a few spectacular buildings in its vein.