Bloomberg News

CIM, Macklowe to Build Tallest New York Residential Tower

March 30, 2012

CIM Group and developer Harry Macklowe are planning to build a Manhattan residential tower that would be the tallest in New York City.

Macklowe and Los Angeles-based CIM intend to build an 82- story, 1,397-foot (436-meter) building at the site of the former Drake Hotel on Park Avenue. The plan was included in permit applications for a sprinkler system and fire alarm filed this week with the New York City Department of Buildings.

The developers previously filed plans to build a six-story, 88-foot building on the site, according to city records. Those papers haven’t been updated to reflect the new size of the tower, according to Ryan FitzGibbon, a department spokeswoman.

“They’ve indicated on subsequent applications that the height of the new building will now be 82 stories,” FitzGibbon said in a telephone interview. “However, they have not yet amended the new building plans nor have these subsequent filings been approved.”

Steve Solomon, a spokesman for Macklowe, referred questions about the building to CIM. Bill Mendel, a spokesman for CIM, declined to comment.

At 1,397 feet, the tower would surpass a residential property Extell Development Co. is building on West 57th Street. That one is planned to reach 953 feet, FitzGibbon said. The Extell site is slated to be New York’s tallest residential building when it’s completed next year.

The Empire State Building, a commercial property, stands at 1,250 feet, according to FitzGibbon.

The plans were reported yesterday by the Real Deal.

To contact the reporter on this story: Oshrat Carmiel in New York at ocarmiel1@bloomberg.net

To contact the editor responsible for this story: Daniel Taub at dtaub@bloomberg.net


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