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57th Street Survivor Readies for the Wrecking Crew

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Back in 2005 the shabby 201 East 57th Street was championed as a neighborhood survivor, a five-story relic holding steady on a heavily-trafficked corner despite the encroachment of luxury development (like One Beacon Court just one block over). Its air rights sold off to build another new condo castle, it seemed like the 136-year-old building was safe. Er, not so. The building now wears, as broker-blogger Andrew Fine puts it, "the black shroud of death." What happened? The gang at Wired New York has been tracking the case, and it looks like the richly ornamented structure will be replaced with a four-story gloss box of retail from TPG Architecture. Needless to say, they're thrilled! The property's owner is not ready to share, but details are coming soon. Godspeed, old friend.
· 201 East 57th Meets the Black Shroud of Death [A Fine Blog]
· Thread: 201 East 57th Street [Wired New York]