Back when the commercial real estate market was barreling ahead like a bull in a commercial real estate shop, landlords got the idea that by slapping an updated facade on an old office building and upgrading the innards, they could raise rents astronomical amounts. One such project was 1775 Broadway, the longtime 57th Street home of Newsweek before the magazine moved to Hudson Square last year. Landlord the Moinian Group decided to give the building a face lift and rename it 3 Columbus Circle, something of a dicey move. Well, now the commercial market is in the crapper, but work continues on 3 Columbo. The building is a hot mess of scaffolding, glass and denudation?a slightly menacing presence amidst the madness of Columbus Circle and its environs. Such are the sacrifices we make for beauty!
· 3 Columbus Circle coverage [Curbed]
· 3 Columbus Circle [Official Site]
UPDATE: A tipster writes, "Newsweek is still there (they hope to move out in a few months) but the construction/renovation is such a mess that their offices are infested with mice."
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