A unique supertall high-rise with a hotel and observation space is about to rise in Midtown.

YIMBY has spotted perimeter fencing going up at the corner of Eighth Avenue and West 46th Street, where Extell is set to commence work on a 52-story, 1,067-foot-tall high-rise. The roughly 775,000-square-foot building will feature an 825-room hotel on its lower floors, with an observation deck and drop ride attraction on its upper levels. Plans also call for a pool deck, shops, and restaurants.

ODA is designing the high-rise, while Lendlease is listed as the project's general contractor. Ancora Engineering is responsible for excavation of the project site, previously improved with a parking lot and smaller commercial buildings, which sits at 740 Eighth Avenue.

According to YIMBY, the proposed drop ride will feature three tracks and carry up to four passengers at a time over a 90-second ride which includes a free fall.

Completion of the tower is expected in the second quarter of 2027.