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499 Park Avenue.

The Bespoke Builders: Hines’ Quiet Designs on New York

499 Park Avenue resembles a giant block of obsidian, perfect but for the even more perfect bluntings made to the corners of the obelisk. Running down one-third of the tower’s facade, the width of a single pane of glass, this is the one design flourish of the building. They were made with sculptor’s precision by the celebrated I.M. Pei some 31 years ago.

Inside, workers have been busy putting the finishing touches on the office duplex. The space atop this modernist ziggurat was being white-boxed, stripped back to its bare steel columns, a fresh coat of paint on the floors, grotty insulation still clinging here and there to a few beams. Light streamed in from all sides, the recently rechristened Ed Koch Bridge directly to the right down 59th Street, Central Park up and to the left. Everything had been cleaned and shined to make way for the brokers who would be streaming through the space, trying to find a new tenant for office space that had not been vacant since the building was finished in 1980.

The showstopper is the upper floor, where drop ceilings had been stripped out to expose a soaring 18-foot cathedral of steel and glass. It felt like Soho-on-Park. Read More

under the bridge

Those'll be some views. (Getty)

Related, Two Trees, Andre Balazs, FXFowle Among Firms Flooding Brooklyn Bridge Park Pier 1

Even if the city could be headed for further construction slowdowns, developers are still readying themselves for the (eventual?) recovery. The MoMA Tower, Hudson Yards, East Coast Number 4—all are showing signs of life. And they all have something in common, as well: their developers have their sights set on the first site at Brooklyn Bridge Park. Read More

dollars and sense

The Anglicans also lost money on Stuy Town.

New York Pensioners to Play With Big Real Estate

Maybe all of those second-quarter reports lauding the return of Manhattan real estate convinced New York's Common Retirement Fund that investing in it is a good idea. (But remember how that worked out for California's pensioners and Stuy Town?)

The pension fund, along with the Houston-based real estate firm Hines, have announced that they will invest more than $1 billion in U.S. office and medical properties. Read More

MoMA Tower Opponents Target Quinn in TV Ads

It seems opponents of the Jean Nouvel-designed skyscraper planned to rise next to MoMA are well-funded.

The opponents, mostly neighbors of the 1,050-foot tower-to-be, are hitting the airwaves Monday with a television ad that directly targets Council Speaker Christine Quinn, urging her to oppose the development, planned to be built by the Texas Read More