Times Square’s New Supertall Finally Moves Forward | Real Estate News

Real Estate News Today | 2 Min News | The Daily News Now! · Sep 11, 2026 · 1m

Extell Development just landed $1.25 billion in financing to finally launch “The Torch,” a massive supertall project in Times Square — and it’s getting even bigger than planned. The hotel will now boast 1,800 rooms, more than doubling original projections, and is set to house a major international chain under a 40-year franchise deal, plus a restaurant group and an adrenaline-pumping observation deck. With construction financing locked in and no need for additional capital, developers are targeting $250–$270 million in annual revenue. This is the long-awaited leap into New York’s most iconic…