JDS Development Group dropped $46 million to buy the Steinway Building on West 57th Street earlier this week, and now we know why: to make their tower at the adjacent 107 West 57th Street 200 feet taller. A source at JDS's partner Property Markets Group told the Real Deal that they are considering using the Steinway building's 45,000-square-feet of air rights to add height to the building they unveiled plans for last September.
Previous plans called for a slender 679-foot, 51-story structure designed by Cetra/Ruddy. The building will likely have a hotel component on the bottom, with condos on top. Originally, 29 condos were slated for the building, but if the developer adds height, they will undoubtedly add more condos, all of which will supposedly have "unobstructed Central Park views." Cetra/Ruddy is no starchitect Christian de Portzamparc or Rafael Vinoly, but JDS and PMG are clearly trying hard to make this tower rival Extell's One57 and Macklowe Properties' 432 Park Avenue.
· JDS, PMG Partnership Mull Adding 200 feet to Steinway-adjacent Tower [TRD]
· Say Hello to One57's Future Super Skinny 51-Story Neighbor [Curbed]