JDS and PMG’s $1.4B tower at 111 West 57th Street gets initial TCO

JDS Development, Property Markets Group and Spruce Capital Partners, on April 17, were issued a temporary certificate of occupancy for the 60-unit, 304,037-square-foot residential condo tower at 111 West 57th Street in Midtown West.

The building plans were originally filed August 6, 2013, and called for a $11.5 million change in use to increase in the size of the building to a 1,428-foot tall, 82-story, skyscraper. The developers filed for TCO on November 22, 2019. The condominium declaration was filed on April 2, 2020.

The project is described in the filings as: filing for enlargement of existing structure as shown on drawings filed herewith.

The initial cost as reported in the DOB filing for the work described in this permit application is $11,500,000.

According to the plans, the building will have retail space in the cellar as well as on floors 1, 3, and 4.

New York’s skinniest supertower can finally be occupied, a prospect that was questioned several weeks ago. The construction moratorium in response to the coronavirus outbreak was the latest in a series of challenges that developers have faced. If a construction deadline had been missed, buyers could have taken their deposits and walked.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Direct link to C/O document. LINK

Correction: Spruce Capital Partners was added as a co-developer.