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A group lead by clothing designer Tommy Hilfiger has purchased the Met-Life Clock Tower building (5 Madison Avenue) on the east side of Madison Square Park, according to the Wall Street Journal. The plan is to turn it into a hotel.

The building has been the subject of several proposed plans in the past, including very large (4,000+ square foot) ultra-high-end condos designed by Donatella Versace, and then revised to be condos about half the size with a new designer involved.

The historic building was built in 1909 and was at one time the world’s tallest building.


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