Billionaire's Row Is Getting A New Development: Records

MIDTOWN MANHATTAN, NY — Developers have filed plans to construct a new 26-story mixed-use building on Midtown Manhattan's Billionaire's Row, according to city records.

Alchemy Properties filed plans with the City Department of Buildings for a 419-foot-tall tower on West 57th Street between Sixth and Seventh avenues. The building would be considered tall in almost every neighborhood but will be dwarfed by neighboring developments such as One57 and 111 West 57th Street, which both rise over 1,000 feet on the same block.

Alchemy's development will also differ from Billionaire's Row development because it isn't a luxury condo project. Developers are instead partnering with the Calvary Baptist Church to buy the congregation's properties and redevelop them as an office tower with a new space for the church, the Real Deal reported in October.

The new development will also replace the Salisbury Hotel, which was operated by the church, according to the Real Deal report.

Developers filed demolition permits for the existing buildings in early November.