It looks like Harry Macklowe's comeback at the Drake Hotel site on Park Avenue might come in the form of a big glass cube similar to that perched atop the Apple Store nearby on Fifth Avenue. The Wall Street Journal reports that the CIM group, which bought Macklowe's debt after he defaulted on his loans in 1997 for $518 million, is planning to build 10,000 square feet of commercial space along with the Rafael Vinoly-designed residential or possible hotel tower at the Drake site. Macklowe's still involved with the project, and he recently showed off a plan involving a 1,000 foot tower at the site. If all the obstacles are overcome?they still don't own all the property on the site, financing is still an issue, and there are already plenty of hotels opening?we're looking forward to a five-story glass cube with a skyscraper jutting out behind it, according to the plan. The Macklowe train keeps chugging along.
· Park Avenue Project Takes Shine to Glass [WSJ]
· Drake Hotel coverage [Curbed]