All renderings of 279 East 44th Street via Jakub Sobiczewski
In spite of COVID-19, Midtown East remains an appealing prospect for New York's office market. The latest proof comes from German architect Jakub Sobiczewski, which has released highly detailed new renderings for a soaring office tower at 279 East 44th Street. The address is currently home to postwar rental Olympia House, and it remains to be determined whether this design is part of a real proposal. It is clear, though, that the design is in line with current office trends. Renderings of the new building, which is around the same height as the nearby Chrysler Building, depict large floor plates, high ceilings, floor-to-ceiling windows overlooking panoramic East River and skyline views, and leisure and outdoor space.
Enlarge Image
Enlarge Image
Enlarge Image
Enlarge Image
Enlarge Image
Enlarge Image
Enlarge Image
In this article:
The possible new building takes place in a stretch of New York that has proven highly attractive to bioscience companies. The site is up the street from 708 First Avenue, where Solow Realty & Development announced plans for a state-of-the-art life science and biotechnology center. To the south, the Alexandria Center for Life Sciences is taking shape near Kips Bay, which is historically known for its hospitals and still home to Bellevue and NYU Langone Medical Center. And while longtime area tenant Pfizer is getting ready to move to its new Hudson Yards headquarters in The Spiral, renderings have been released to show how its two adjacent office buildings could be redeveloped into a larger building.
The proposed tower is also right in the heart of the Midtown East rezoning to ensure the area’s future as a world-class business district. One Vanderbilt is now 65% leased, and JPMorgan Chase is still proceeding to build a massive new headquarters at 270 Park Avenue, between East 47th and 48th Streets. Moreover, a recent report from CBRE found that leasing activity is ticking up after a lull, and the average asking rent has stayed flat month-over-month and year-over-year.
Olympia House entrance via Olympia House Delaware LP
As for Olympia House, neither redevelopment nor demolition permits have been filed, but the owners of the 21-story, 240-unit rental secured $72 million in refinancing last April. Some of the units have private balconies and in-unit washer/dryers, and all residents have access to a doorman and live-in superintendent’s services, mail and package rooms, a parking garage, a central laundry room, and special corporate rate at nearby Equinox gyms. A small handful of availabilities starts at $3,050/month for two-beds and $3,250/month for three-beds, and all prices are net effective to reflect one month free on a 13-month lease.
Summit entrance via BLDG
Local residential development has come a long way since the days of Olympia House. Across the street, Summit opened for leasing last year and set new standards for the area with its soaring height, luxurious finishes, and high-end amenities. Current availabilities range from $3,255/month for a studio to $24,900/month for a three-bedroom penthouse; all prices are net effective. On the sales front, a proposal for a 41-story condominium nearby at 305 East 44th Street has been temporarily shelved.
Rendering of 305 East 44th Street via ODA Architecture
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
