Construction on The Torch, a 1,067-foot supertall hotel at 740 Eighth Avenue in Times Square, has resumed after a hiatus that began in March 2024. The project, developed by Extell Development and designed by ODA Architecture, had faced legal disputes and financial challenges, including lawsuits over unpaid services and safety violations. Despite these setbacks, the foundation was completed, and diagonal beams were installed to support the retaining walls, setting the stage for the resumption of construction .
The Torch will feature a 52-story structure comprising an 825-room hotel, retail spaces, a restaurant, a VIP lounge, and a pool deck. A standout feature is the 360-degree observation deck topped with a 500-foot spiraling glass structure, inspired by the Statue of Liberty’s torch. Additionally, a 260-foot drop ride attraction is planned for the upper levels .
Financing for the project has been bolstered by a $1.3 billion deal, including a senior construction loan and mezzanine debt. An unnamed hotel chain has also committed to the project, providing additional financial backing .
The anticipated completion date for The Torch at 740 Eighth Avenue in Midtown Manhattan is the second quarter of 2027. This timeline is prominently posted at the construction site and has been confirmed by multiple sources.
