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L&L Launches Design Competition for 425 Park Ave.

NEW YORK CITY-L&L Holding Co, master lease holder of the 650,000-square-foot office tower spanning 55th and 56th Streets in Manhattan, is hosting a competition between 11 firms to create a new office tower for the site, which CEO David Levinson tells GlobeSt.com’s Jacqueline Hlavenka is a “once in a lifetime opportunity.”

By Jacqueline Hlavenka | Updated on April 23, 2012

NEW YORK CITY-L&L Holding Co., the master leaseholder of 425 Park Ave. in the Plaza District, is asking the world’s best and brightest architects to bring their ‘A’ game to the property. The company has invited 11 top architectural firms to participate in a design competition to create a new skyscraper on the site, replacing the current 559,763-square-foot tower spanning 55th and 56th Streets.

David Levinson, chairman and CEO of L&L Holding, describes the opportunity as an “once-in-a-lifetime” moment. “It’s not often that you get a vacant building on Park Avenue and it’s the first time that’s happened in 50 years,” he tells GlobeSt.com. “It’s a very important moment and we want to create the finest building we possibly can and we are going out to what we believe are some of the brightest, creative architectural minds out there who work with us and collaborate with us in creating this very important iconic structure.”

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