A prime site just north of the Lincoln Tunnel will receive a refresh courtesy of The Gotham Organization. The developer filed plans last Friday to construct a 47-story, 453-unit mixed-use tower at 550 10th Avenue. City documents reveal the structure will rise 520 feet and comprise 343,350 square feet of residential space, 27,550 square feet of commercial space, and 57,300 square feet dedicated to a community facility. The architect of record on the project is listed as Handel Architects.
550 10th Avenue is part of a three-building site long owned in part by the city and the Covenant House, a NYC-based, international non-profit providing housing and services to homeless youth.
In 2016, plans were put in motion to replace the Covenant House’s bulky eight-story structure with a modern facility. Working with the New York City Economic Development Corp., the nonprofit released a RFP seeking a developer to assist with the project. In 2018, The Gotham Organization emerged.
Gotham agreed to purchase a portion of the site for $78 million, alongside the opportunity to build a ground-up, mixed-use tower. However, as part of the transaction, the developer would also be required to construct a new facility for the non-profit, including office space and supportive housing. This project broke ground in the fall of 2019 at 460 West 41st Street and is expected to wrap this year.
Per Crain’s, The Covenant House will leave 550 10th Avenue upon completion of the West 41st Street building, and at that point, the Gotham Company will purchase the 10th Avenue site for its tower. It is not clear when construction will begin, but demolition permits were filed in September 2020.
- Midtown West (Urbanize NYC)