51 Astor is a product of permission given to Cooper Union to allow development on its grounds despite being a non-profit. The building was built on spec, without an anchor tenant for the building.[3] The developer, Edward J. Minskoff, hoped to gain tenants from the financial and technology sectors.[4]
The building was completed in 2013, and cost $300 million to construct.
The building was designed by Fumihiko Maki, who also designed 4 World Trade Center. The developer referred to the structure as "black glass with black granite and silver fins".[7] Matt Chaban, writing for Observer, referred to the building as "one of the more interesting buildings built in the neighborhood since...41 Cooper Square...". 41 Cooper Square is a Cooper Union academic building.[8]
The lobby includes a red Jeff Koons sculpture of a rabbit.[5]
Controversy
The Greenwich Village Society for Historic Preservation opposed the building's development, largely due to the fact that the building's style is markedly different from that of the surrounding neighborhood.[1] Both the style and the high prices the building asks for rent have been seen as eroding the neighborhood's character.[1]
The controversy over 51 Astor's design is similar to the one that faced the neighboring Astor Place Tower.[9]