New York-based developer Tishman Speyer officially filed their plans for the $3.2 billion, 65-story office skyscraper designed by Copenhagen-based Bjarke Ingels Group (BIG). Dubbed the Spiral for its continuous band of terraces, the tower will reach a height of 1,005 feet. BIG has been quite busy in New York—they just wrapped Via 57 West and The Architect’s Newspaper has even heard they’re being passed over for projects because clients fear their office is too busy.
Though the plans filed with the city only call for 2.2 million square feet, Tishman Speyer is marketing the property at 2.85 million square feet in size; the project will also include 27,000 square feet of retail space on the ground floor. The Spiral is one of two towers in Hudson Yards already being considered by investment firm BlackRock (if the company decides to leave its Park Avenue home, according to a report by Crain’s New York Business).
Back in 2014, Tishman Speyer paid $438 million for the two parcels of land where the Spiral will stand; the company also received a $170 million, 25-year tax abatement on the project later that year. When tenants of two townhouse apartments at 35th Street and 10th Ave. refused to move out, Tishman Speyer paid them a $25 million settlement to vacate the premises in order to move forward with their plans, instead of spending years in court battling it out against the now infamous tenant attorney David Rozenholc, according to Gothamist.
Tishman Speyer has received over $1 billion from international investors to move the project forward and the developer hopes to pre-lease a third of the building to cover the remaining costs of construction, as reported by The Real Deal. The company also purchased two additional parcels of land across from the Javits Center at 11th Avenue earlier this year, with plans to build another 1.3 million-square-foot office tower.