Sedesco Files Demo Plans for Billionaires’ Row Supertall

Sedesco’s supertall is coming into focus as the developer filed plans for the demolition of a recent addition to its Billionaires’ Row assemblage.

The New York-based developer filed plans to demolish the 13-story building at 37 West 57th Street, Crain’s reported. The building at the site stands 150 feet tall and spans 70,000 square feet.

The Class B office property has been in Sedesco’s portfolio for mere weeks after it purchased the property in April for $77.5 million, but never seemed intent on keeping it an office. Instead, it served as a way to add space to the supertall Sedesco is planning, adding 58 feet of frontage on West 57th Street.

Demir Sabanci’s firm has spent a decade trying to pull its assemblage together. In 2012, Sedesco acquired 50 West 58th Street for $71.5 million. In 2018, it bought 41 West 57th Street for $80 million.

The end goal is a 63-story supertall at 41-47 West 57th Street. Designed by OMA’s Rem Koolhaas, the property is slated to include a mix of hotel, retail and residential space. The skyscraper is expected to rise 1,100 feet with 119 residences, 158 hotel rooms, 237,000 square feet of residential space and 206,000 square feet of commercial space. There will also be roughly 10,000 square feet for a restaurant.

In 2021, Sedesco received approval for its 57th Street zoning through the city’s Zoning for Accessibility program. The developer is building two ADA-accessible elevators at the southwest corner of West 56th Street and Sixth Avenue, which will provide access to the 57th Street station serviced by the F line.

The deal allowed Sedesco to add 52,000 square feet to its project.

The subway improvements are already underway and expected to be completed next year. As a whole, the supertall is expected to be completed in 2026 and construction is already underway.

— Holden Walter-Warner