Photos taken this morning show that some preliminary demolition work has begin, along with installation of fencing on the site.
A permit to demolish a four-story building on the site has already been issued to contractor BG Group, city records show. The demolition cost of the 188,895 square foot structure is listed at $375,313.
There is also a permit to install fencing at a cost of $4,900.
A separate permit to build a 47-story tower with 506 residential units is pending.
Three towers are planned, with the other two at 77 and 82 stories.
A Baccarat hotel and residences will be a a part of the complex.