20 Times Square
| 20 Times Square | |
|---|---|
| 701 Seventh Avenue | |
  Location in New York City | |
| General information | |
| Status | Under construction |
| Type | Hotel and Retail |
| Location | 701 Seventh Avenue, New York City, U.S. |
| Coordinates | 40°45′33″N 73°59′03″W / 40.759305°N 73.984163°WCoordinates: 40°45′33″N 73°59′03″W / 40.759305°N 73.984163°W |
| Construction started | 2013 |
| Owner | 701 Seventh Property Owner LLC |
| Technical details | |
| Floor count | 39 plus mezzanine |
| Design and construction | |
| Architect | Platt Byard Dovell White Architects |
| Developer | The Witkoff Group and Maefield Development |
| Engineer | Severud Associates |
| Main contractor | CNY Group |
20 Times Square is a large mixed-use 39-story development located at 701 Seventh Avenue on the northeast corner of West 47th Street in Times Square, Manhattan at the top of the Times Square 'bow tie'.[1] The development will include one of Ian Schrager's new Edition Hotels operated by Marriott above a 6-floor 76,000 sq ft retail component.[2] The building replaces the Cecil B. DeMille building previously home to the famous Unique Recording Studios which closed in 2004.[3] According to City Planning Department documents, an increase in the size (and FAR) of the 500 foot tall building was made possible by the transfer of air rights from two nearby Broadway locations.[4]
History
Between 2000 and 2011, the Port Authority of New York and New Jersey (PANYNJ) worked with Vornado Realty Trust, who had partnered with the Lawrence Ruben Company.[5] In November 2007, the PANYNJ announced the terms of an agreement in which it would receive nearly $500 million in a lease arrangement for a new office tower above the Port Authority Bus Terminal that would also provide funds for additional terminal facilities.[6] It would include 1,300,000 square feet (120,000 m2) of commercial space in a new office tower, which was to use the vanity address 20 Times Square, the addition of 60,000 square feet (5,600 m2) of new retail space in the bus terminal, as well as 18 additional departure gates, accommodating 70 additional buses carrying up to 3,000 passengers per hour. New escalators would be installed to help move passengers more quickly between the gate area and the ground floor. Construction was expected to begin in 2009 or 2010 and take four years to complete.[7][8]
Following in the tradition of Times Square, and the zoning ordinances requirement for building owners to display illuminated signs, the development would have featured a very large wraparound high definition LED screen, known as a Jumbotron. If completed the screen would have been one of the largest video-capable screens in the world.[9] The screen would feature 16 million LED diodes (pixels) measuring only 10mm, providing 18,000 square feet of screen along 200 linear feet of wraparound frontage.[1][9] This world make the screen the largest single LED screen in New York and over six times the size of the famous Coca-Cola sign in Times Square. The sign would have been 1,000 square feet larger than Times Square's previous largest - the 17,000 square foot sign on the flagship Walgreens store located at One Times Square.[10]
The vanity address 20 Times Square has now been allocated by the City to a retail development at 701 7th Avenue (on the northeast corner of West 47th Street and Seventh Avenue) by the City in April 2014,[1][4][11] In May 2014 it was announced that the retail space is being leased through the CBRE Group.[1][11]
References
- 1 2 3 4 Barbarino, Al. "Ian Schrager Taps CBRE for 20 Times Square Retail". Commercial Observer. (May 21, 2014)
- ↑ Cuozzo, Steve. "Marriott brings Schrager's vision to Times Square's new 'Edition'". New York Post. (January 20, 2014)
- ↑ "Unique Recording Studio". Mix Magazine Online. (August 1, 2000)
- 1 2 Cuozzo, Steve. "MiMa to get big Treehaus". New York Post. (December 16, 2013)
- ↑ Staff (July 15, 2011). "Chinese Developer Pledges up to $700 million with Vornado Realty Trust for Port Authority Tower". The Real Deal. Retrieved May 25, 2012.
- ↑ Bagli, Charles V. (November 30, 2007). "Tower Planned Atop Port Authority Bus Terminal in New Wave of Development". The New York Times. Retrieved July 25, 2009.
- ↑ Dunlap, David W. (July 25, 2008). "Designs Unveiled for Tower Above Port Authority Bus Terminal". The New York Times. Retrieved July 25, 2009.
- ↑ "RENDERINGS RELEASED FOR PLANNED OFFICE TOWER ABOVE PORT AUTHORITY BUS TERMINAL'S NORTH WING" (Press release). Port Authority of New York and New Jersey. July 24, 2008. Retrieved January 7, 2011.
- 1 2 Barbarino, Al. "Ian Schrager Taps CBRE for 20 Times Square Retail". Commercial Observer. Retrieved 2014-06-05.
- ↑ Collins, Glenn. "How to Stand Out in Times Square? Build a Bigger and Brighter Billboard". New York Times. Retrieved 14 January 2013. (May 24, 2008)
- 1 2 REW Staff. "CBRE to market 20 Times Square retail". Real Estate Weekly. (May 20, 2014)