CNY Named Top 10 Construction Firm to Watch

CNY Named Top 10 Construction Firm to Watch

Commercial Observer October 18, 2017
Top NYC Officer: Kenneth Colao, co-Founder and Chief Executive Officer
Value of Projects: $420 million
Employees: 139 in NYC and N/A globally
Top NYC projects:
The Crossing at Jamaica Station at 93-01 Sutphin Boulevard
Tammany Hall at 44 Union Square

CNY Group is smaller than most of the firms on this list by employee count, but the company makes up for its size with a roster of unique and ambitious projects.

The 14-year-old outfit led by Kenneth Colao just wrapped up construction of Property Group Partners and Romanoff Equities’ 860 Washington Street, a glassy office building next to the High Line anchored by a Tesla showroom. It’s also working on two major historical conversion projects—Tammany Hall in Union Square for Liberty Theatres LLC and the Woolworth Building in the Financial District for Alchemy Properties.

The top half of the 58-story Woolworth Building is being converted from offices to 33 residential condominium units. The landmarked 1912 skyscraper got new elevators, staircases and mechanicals, along with a completely restored facade.

“The terra cotta that was chosen was from the original quarries and had to have eight different color variations to match the original materials,” Colao explained, adding that it took eight months for an engineer to build scaffolding that would support workers repairing the building’s neo-Gothic exterior.

Meanwhile, Tammany Hall, the former headquarters of the city’s Democratic machine, is being largely demolished as the owner converts the site to six stories of offices and retail. CNY knocked down the building’s famous auditorium while keeping the shell of the facade, which is landmarked. The mostly new building, designed by BKSK Architects, will be outfitted with a tortoise-shell-shaped glass dome.

In Queens, CNY is working on the 720,000-square-foot, mixed-use The Crossing at Jamaica Station at 93-01 Sutphin Boulevard. Although the BRP Companies project is only just getting its foundations, the finished development will include two towers with 669 apartments, 25,000 square feet of retail and 20,000 square feet of community facility space.

However, CNY’s most expensive project is a new 39-story Marriott Edition hotel under construction at 20 Times Square. Construction costs for the 452-room hotel, developed by the Witkoff Group, are expected to top out at $350 million.

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