The long-awaited conversion of Philip Johnson's Sony Building at 550 Madison Avenue is finally making some progress. The project—called, somewhat blandly, 550 Madison—launched a teaser site last night, which has few details beyond some architectural information and the team behind it (which includes Chetrit Group, which bought the building for $1.1 billion in 2013), but we've got the scoop on plans for the iconic Midtown building—which includes an assist from Robert A.M. Stern.
As previously reported, the conversion of Johnson's building will include pricey condos—but the current plan differs from what we previously knew about the building. Instead of 96 units, the residential portion of the building will have 113 condos designed by none other than Robert A.M. Stern Architects. They'll occupy floors 21 through 43 of the building. (A spokesperson has yet to confirm if the pricing and floorplans that were previously revealed for the building are still accurate, but we'll update with that info when we can.)
There will also be a hotel portion, which will be operated by Oetker Collection, the hospitality group responsible for Hotel du Cap-Eden-Roc in France; the "New York masterpiece" (that's the tagline for the hotel, not the official name) will be a 170-key hotel will have 60 fancy suites, along with predictably over-the-top amenities like a 25-meter pool, a spa, and an upscale restaurant. Those amenities will also be available to the ultra-wealthy residents of the building's condos. And finally, there will be luxury retail on the ground floor.
So there you have it: Midtown is getting another pricey hotel-condo hybrid, in the vein of buildings like One57 (which has a Park Hyatt hotel on its lower floors). Though construction has yet to begin on 550 Madison, it's expected to open in early 2018.
· 550 Madison [Official]
· All 550 Madison Coverage [Curbed]