Under Construction

The Torch

The Torch rises 52 stories on the Times Square edge of Hell's Kitchen, at Eighth Avenue between West 45th and West 46th Streets, as Extell Development's bid to add a new attraction to the busiest corner of Manhattan.

TMW IntelligenceVerified Oct 17, 2026
AnnouncedBreaking GroundConstructionOpening SoonNow Open
2022
Start
~2028
Completion
825
Keys
52
Floors
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Details

740 Eighth Avenue, Manhattan. 52 floors and 825 hotel keys. Broke ground 2022, targeting 2028. Financed with $1.3B from JPMorgan in September 2026.

The story so far
Announced 2022 est.
Broke ground 2022Excavation and pilings began in 2022; construction stalled Mar 2024 and restarted Jun 2025
newyorkyimby.com
Going vertical Jul 2025The Torch rises above street level at 740 Eighth Avenue, per New York YIMBY
newyorkyimby.com
Halfway there Aug 2026The Torch reached its halfway point at 740 Eighth Avenue, per New York YIMBY
newyorkyimby.com
Financing secured Sep 2026Extell closed $1.25B construction financing: $1.1B senior loan led by JPMorgan Chase plus $150M mezzanine notes (also Davis Polk, CoStar)
oftmw.com
Hotel franchise signed Sep 2026Extell has a 40-year franchise agreement with an unnamed international hotel chain that will invest about $60M in The Torch, disclosed alongside the September 2026 construction financing close (CRE Daily; Construction Review Online)
oftmw.com
Expected opening 2028 est.
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TMW Intelligence

The outlook for The Torch

Timing, similar projects and market pressure, read from every development in our database.

The New York City market 72 · Saturated supplyTimes Square 28-project pipeline · 11,692 residences and keys · peak Late ’28 Explore the market →
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About the project

The Torch rises 52 stories on the Times Square edge of Hell's Kitchen, at Eighth Avenue between West 45th and West 46th Streets, as Extell Development's bid to add a new attraction to the busiest corner of Manhattan. ODA leads the design with SLCE Architects as architect of record, stacking 825 hotel rooms beneath a crown built for spectacle. The upper levels hold a public outdoor observation deck, a two-floor restaurant and a VIP lounge, while guests get their own pool deck and the base carries retail. The signature move is a free-fall drop ride engineered by Intamin that sends riders through transparent tubes running roughly 300 feet down the side of the tower, giving the building its name and its skyline silhouette. Construction is threading around three holdout buildings that remain in place along Eighth Avenue.

Developer & design
Common questions

Frequently asked

Where is The Torch located?

The Torch is located in New York City.

When will The Torch be completed?

The Torch is under construction, with completion expected in 2028 (a TMW estimate).

Who is developing The Torch?

Extell Development is the developer behind The Torch.

Who designed The Torch?

The Torch was designed by ODA Architecture.

How big is The Torch?

The Torch rises 52 stories with 825 hotel keys.