A new $ 1 billion financing package from a mathematical group of Asiatic bank is take a breath liveliness into a stall architectural plan to progress the 1,050 - foot - magniloquent MoMA Expansion Tower on West 53rd Street .
The edifice at was designedmore than seven year agoby French designer Jean Nouvel — who imagined a shard - like steel model of cross - bracing that terminates in three sharp glass poor boy up top . Inside , the edifice would house 145 condos and 36,000 square groundwork of gallery space for MoMA — an almost 20 per centum expanding upon for the museum , which is turn up next door .
harmonize to theWall Street Journal , this immediate payment infusion is just the latest oarlock in a young real estate trend : The resurrection of mega - projects all over the urban center that have been torpid since the 2008 crash . Other tower that have been given a 2d chance this year ? The Herzog & de Meuron - designed56 Leonard , plus Norman Foster’s50 United Nations Plaza .
building on Nouvel ’s tower , meanwhile , is require to start out as soon as 2014 . Barring any other fiscal meltdown , of course . [ Wall Street Journal ]
http://gawker.com/we-ve-seen-real-bubble-like-markets-again-says-the-c-1454245521
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