The Moinian Group and Tishman ConstructionThe Moinian Group and Tishman Construction celebrated the topping out of the developer’s $539 million luxury, 1,174-unit residential tower, 605 West 42nd Street. The 60-story high-rise is the largest rental development currently under construction in Manhattan with 1.16 million-square-feet.

Executives from The Moinian Group and Tishman Construction, along with additional stakeholders and the construction team, were on hand to celebrate the occasion with a bucket hoisting ceremony and short speaking program, followed by a luncheon.

605 West 42nd Street“We are thrilled to celebrate this topping out milestone and look forward to the successful completion of Manhattan’s largest residential rental development currently under construction,” said Jay Badame, president and COO of New York, New Jersey and Pennsylvania for Tishman Construction. “Congratulations to everyone who has worked together to bring this building to life.”

605 West 42nd Street will offer studios, one-, and two-bedroom units to accommodate 939 market rate apartments — some with outdoor balconies — and 235 permanently affordable apartments. Additionally, the tower will offer ultra-luxury penthouse units.

“605 West 42nd Street is going to be a shining example of a large-scale, out-of-the-ground residential development that realizes a bold vision — pushing the limits of luxury and convenience to create not only a living space, but a lifestyle,” said Joseph Moinian, The Moinian Group’s CEO, in a previous statement.

The base of the building will be comprised of approximately 20,000 square feet of ground floor retail space with 200 feet of frontage on 11th Avenue, parking garage spaces, and an expansive motor court drive. Amenities include a 40,000-square-foot public health club, complete with indoor and outdoor pools and spa services.

The building also features a grand lobby, lounges, public spaces, a restaurant with outdoor dining, and approximately 20,000 square feet of professionally landscaped terrace and deck space all designed in collaboration with the Rockwell Group and Thomas Balsley Associates.

Completion of the building is slated for 2015. The tower will join Moinian’s Costas Kondylis designed Atelier condominium next door, bringing to fruition Costas Kondylis’s integrated, long-term vision for the block and neighborhood.

Images courtesy of The Moinian Group