$1.3B Skyscraper to Offer New MoMA Gallery Space

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The Kwee family of Singapore is making around a $300M investment in this NYC Jean Nouvel tower, and several Asian banks are lending upwards of $860M for the completion of the project. Houston-based developer, Hines, will spearhead the restoration and renovation project on 53 W. 53rd St.

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Eventually, the 1,050-foot tower will offer 145 luxury condos and 36,000 square feet of new gallery space for MoMA (reportedly their biggest expansion in gallery space since 2004).

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The Wall Street Journal reports that Glenn D. Lowry, MoMa’s director, looks forward to additional “new and engaging public spaces.”

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Photos courtesy of WSJ, cuberme, manhattanscout

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