The construction of an office tower at 51 Astor Place in New York, US, is expected to begin soon.
Developer Edward J Minskoff Equities began the demolition of the existing structure at the location on 1 July 2011.
The new 13-storey tower that is proposed to be built at the location has been designed by Japanese architect Fumihiko Maki.
The tower is slated to house retail and educational space on the lower floors and office space on the upper floors.
Construction of the building is expected to be completed by early 2013.
Developers claim that the building will be built to match advanced technological standards and accommodate tenant requirements.