No construction yet, the demolition should begin soon.
Back in the 60's, a developer wanted to pull down a classic apartment building on the NW corner of 6th Avenue and West 55th Street, to erect a new steel and glass hi-rise. In the final court decision, the judge disallowed it, saying the developer had an "edifice complex." (The building still stands). I think from the low-level look up at this new building, the sketch suggests another "edifice complex," especially as 250 West 55th Street has few floors planned, but will actually be taller due to higher ceilings on each floor.