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.
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).
The Wall Street Journal reports that Glenn D. Lowry, MoMa’s director, looks forward to additional “new and engaging public spaces.”
Photos courtesy of WSJ, cuberme, manhattanscout