With One57 breaking all kinds of records (you may have heard something about that), things are looking good for luxury condo development in Midtown. Now, the Wall Street Journal reports that Starwood Capital Group, led by Brent Sternlicht, and JDS Development Group are set to break ground on a new 50-story condominium and retail tower just down the street from One57. Apparently, the site is currently a vacant lot on West 57th between 6th and 7th Avenues, which means that the Google Streetview snapshot pictured above is the only thing that fits the bill (approximate address: 124 West 57th Street.) Although Starwood has owned the site since 2005, JDS is taking over the development with Starwood remaining a partner. Construction is set to begin in late spring or early summer.
· New Condo Tower Set to Break Ground in Midtown Manhattan [WSJ]