When completed, 111 West 57th Street will tower over New York City’s Central Park. At a height of 1,421 feet and a height-to-width ratio of 24:1, the SHoP Architects-designed residential building will hold the title of world’s skinniest skyscraper.
However, it may no longer be a matter of when the tower is completed, but if it is completed. After rising just 20 stories, construction on 111 West 57th Street has ground to a halt due to ballooning costs.
As the New York Post reports, the skyscraper is already $50 million over budget and a legal battle may be brewing. In an effort to save what is left of its $70 million investment, AmBase, a real estate investment corporation, is suing the project sponsors Kevin Maloney and Michael Stern and lender Spruce Capital Partners.
AmBase’s attorney, Stephen Meister, told the New York Post Maloney and Stern “omitted some very significant items in their budget including cranes, which are very expensive in New York and can run into the millions of dollars.” Currently less than one-quarter complete, the latest Billionaires’ Row project is facing imminent foreclosure.
Related Stories
High-rise Construction | Jul 10, 2018
SOM-designed 100 Leadenhall Street will be one of the tallest buildings in the U.K.
The tower will rise in the City of London’s eastern cluster.
High-rise Construction | Jun 1, 2018
CTBUH names 2018 Best Tall Building Worldwide, among nine other award winners
Oasia Downtown Hotel named “Best Tall Building Worldwide” for 2018.
| May 24, 2018
Accelerate Live! talk: Security and the built environment: Insights from an embassy designer
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), embassy designer Tom Jacobs explores ways that provide the needed protection while keeping intact the representational and inspirational qualities of a design.
High-rise Construction | May 18, 2018
The 100 tallest buildings ever conventionally demolished
The list comes from a recent CTBUH study.
High-rise Construction | May 14, 2018
Register before it’s too late: 2018 Tall + Urban Innovation Conference
The conference explores and celebrates the very best in innovative tall buildings, urban spaces, building technologies, and construction practices from around the world.
Reconstruction & Renovation | May 8, 2018
Willis Tower elevators receive upgrade as part of $500 million update
Otis will handle the upgrades.
Multifamily Housing | Apr 24, 2018
Adrian Smith + Gordon Gill Architecture designs 47-story condo tower in Miami
The tower will be located in Miami’s South Brickell neighborhood.
High-rise Construction | Apr 17, 2018
Developers reveal plans for 1,422-foot-tall skyscraper in Chicago
The tower would be the second tallest in the city.
Mixed-Use | Apr 5, 2018
SOM unveils design for 54-story mixed-use tower in Hangzhou, China
The tower will rise 944 feet.
Wood | Feb 15, 2018
Japanese company announces plans for the world’s tallest wooden skyscraper
The planned tower would rise 350 meters (1148 feet).