there technically isn't a solid proposal here yet, but something is obviously happening. A tall new skyscraper is likely.
NY Daily News: New Times Square mega tower one step closer to becoming reality
NY Daily News: New Times Square mega tower one step closer to becoming reality
Developer to the 1% Gary Barnett is one step closer to bringing another monolithic tower to Midtown.
His company, Extell Development, has closed on the purchase of a 52,000-square-foot parking facility at 251 W. 45th St. for $45.78 million, according to public records. The garage can be razed and combined with an adjacent empty lot already owned by Extell to make way for a skyline altering building.
Experts said the Times Square tower could be Barnett’s tallest yet and would most likely be a hotel, despite Barnett’s tendency towards building luxurious condos.
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He acquired a key part of the site last year in an unconventional property swap deal with real estate giant the Related Companies, which swapped it for another piece of land in the Hudson Yards area on the west side.
Since then, Barnett has been hungrily buying up air rights from theaters in the neighborhood in order to make his tower even taller.
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