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Four projects across New York and Miami are scheduled to break ground or reach a major construction stage next year.
In New York, the $7-8 billion Penn Station rebuild is targeted to start by the end of 2027, and a 20-story luxury condominium at 1527 York Avenue is slated to break ground early in the year.
In Miami, PMG plans to break ground on the 90-story Delano Residences & Hotel next summer, and the 75-story 619 Brickell by Nobu is set to start the same year.
Notable Projects
Penn Station
Seventh to Eighth Avenue, 31st to 33rd Streets, New York, NY
A full rebuild of the busiest rail hub in the Western Hemisphere, phased so the station stays open throughout. Scale: $7-8 billion, 600,000 daily passengers. Construction start: targeted by the end of 2027. Stakeholders: Amtrak, Halmar, Skanska.
Source: 6sqft: Amtrak reveals first renderings of the new Penn Station
1527 York Avenue
York Avenue at East 81st Street, Upper East Side, New York, NY
A boutique luxury condominium replacing two walk-ups, financed with a $52.5 million construction loan from S3 Capital. Scale: 20 stories, 28 residences. Construction start: early 2027. Stakeholders: Grand Cru Real Estate, Visabe, Oak CM (construction manager and general contractor).
Source: Commercial Observer: S3 Capital lends $53M for Upper East Side condo tower
Delano Residences & Hotel
400 Biscayne Boulevard, Downtown Miami, FL
Downtown Miami's second supertall, rising next to the Waldorf Astoria. Delivery is estimated for 2031. Scale: 90 stories, 985 feet, 421 residences. Construction start: expected summer 2027. Stakeholders: PMG, Ennismore, CUBE3, Carlos Ott, Meyer Davis.
Source: Ennismore and PMG announce first-ever Delano branded residences
619 Brickell by Nobu
619 Brickell Avenue, Brickell, Miami, FL
Nobu's first residential project in Miami, designed by Foster + Partners. Closings are expected from 2031. Scale: 75 stories, around 300 residences. Construction start: 2027. Stakeholders: 13th Floor Investments, Key International, Foster + Partners, Sieger-Suárez.
Source: The Real Deal: Nobu Residences Miami tower launches sales
What They Will Need
Each one will need preconstruction, project and site leadership in place well before the first pour. For many of those teams, the hiring starts now.
Preconstruction: estimators and precon leads pricing work years before it starts. Project leadership: directors and senior PMs to run multi-year schedules. Site: superintendents for live-station logistics and supertall cores. Owner side: development managers and owner's reps holding the budget.
Which 2027 start are you watching? Tell us what we've missed.
Sources
- 6sqft: Amtrak reveals first renderings of the new Penn Station
- ABC7 New York: Transportation Secretary Duffy reveals Penn Station redesign plans and schedule
- Commercial Observer: S3 Capital lends $53M for Upper East Side condo tower
- Hoodline: Upper East Side walk-ups make way for 20-story, 28-unit York Avenue condo tower
- Ennismore and PMG announce first-ever Delano branded residences
- The Real Deal: PMG launches Delano-branded supertall in Miami
- The Real Deal: Nobu Residences Miami tower launches sales
- Florida YIMBY: New renderings reveal Nobu Residences at 619 Brickell
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