(Read more on the multifamily market.)
[IMGCAP(1)]NEW YORK CITY-Hines has formally selected Paris-basedarchitect Jean Nouvel as the designer of a new 75-story buildingslated for a key parcel in Midtown Manhattan, adjacent to theMuseum of Modern Art. Nouvel's design will rise 75 stories from the17,000-sf site between 53rd and 54th streets just west of MoMA.
Currently, a mix of uses is contemplated for the buildingincluding: a 50,000-sf expansion of MoMA's galleries, levels two tofive; a 100-room, seven-star hotel and 120 highest-end residentialcondominiums on the upper floors. The project will likely commencepre-sales in late 2008.
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