50 West 66th Street
Update
02/25/22
Upper West Side Skyscraper Obtains $967M Construction Loan
A luxury residential tower project, set for 50 West 66th Street on Manhattan's Upper West Side has managed to obtain a $967 million construction loan. Although the project has been stalled since 2018, this new cash influx, consisting of $800 million from Bank OZK, and $167 million from JVP Management shows that plans for the 69-story building are still alive and well.
Developed by , the tower will stand feet tall, making it the tallest building on the Upper West Side. It will contain high-end condos and total square feet.
In regards to the overall aesthetic of the building, the designers were clearly allowed to take their vision and run wild with it. According to project architect, , "The design is achieved through a series of sculptural excavations, evocative of the chiseled stone of Manhattan’s geologic legacy. As the building rises, its bulk is carved away, splitting the tower volume into two. Chamfered corners refine its silhouette and form a shared amenity terrace on the 16th floor."
On the subject of amenities, plans call for 50,000 square feet of immersive facilities and curated lifestyle services. The landscaped terrace (as mentioned above) will feature an outdoor pool, a spa, and a fire pit. To top things off, tenants will have unparalleled views of Central Park and the Hudson River.
At this time, it's not entirely clear when general contractor, Lendlease, will be able to break out the chisel again and get back to work. That being said, with plenty of capital on hand now to make it happen, we likely won't have to wait much longer to find out.
