Features
From Future New York
First Look at the New Covenant House, 42-Story Tower to Rise Next Door on Tenth Avenue
By CityRealty Staff
Monday, February 25, 2019
Renderings of Covenant House via Gotham Organization
In 1976, rising non-profit Covenant House purchased a group of buildings on Tenth Avenue near Port Authority bus terminal to provide housing and services to homeless youth. In the decades that followed, the 7 train was extended, Hudson Yards rose, developers awoke to the potential and views this stretch of Midtown West offered, and Covenant House grew into an international organization that was sometimes forced to turn people away due to space constraints.
The New York City Economic Development Corp. sought a developer for the site in 2016 (per Crain's), and Gotham Organization bought part of the site for $78 million in January 2018 with plans for a mixed-use, mixed-income residential tower (per New York Post) at 460 West 41st Street. Before this goes up, however, Gotham Organization will build a new 12-story headquarters for Covenant House. According to permits, it will have office space and 60 sleeping units. Amenities will include a cafeteria, courtyard, terraces, art room, and sub-level exercise room, music room, and laundry room. FXCollaborative is the design architect. Covenant House will maintain all operations during construction, and completion is estimated for 2021.
Interior rendering
Further details are not yet available on the residential tower to rise on Covenant House's current site, but Community Board 4 has specifically requested that new development, to be designed by Handel Architects, “avoid looking like a dystopian glass box” (DNAinfo). The 42-story structure is said to contain at least 300 rental units, up to 85 condos, ground-floor and cellar retail space, and about 20,000 square feet of indoor and outdoor amenity space. Completion is estimated for 2024.
Both buildings will rise in a neighborhood that has seen a significant renaissance since the seedy 1970s. Rents at luxury building MiMA range from $3,720/month for a studio to $6,260/month for two-bedrooms. Directly across the street from the site, listings at the amenity-rich 555TEN start at $3,895/month. And given its success with Gotham West and The Helux (now managed by Rose Associates), Gotham Organization is keen to keep up the good work in this part of Midtown West.
Entrance
Twenty Broad seamlessly blends rich history with modern style, while paying homage to a historic space once set aside for the New York Stock Exchange.
View Property
Uptown, service-forward, modern luxury studio to 3-bedroom rentals
View Property
