The Marriott Edition hotel at 20 Times Square reached its full height this spring. But getting there was no easy task. CNY Group, the job’s general contractor, had to demo most of the previous building and excavate the foundation for the 39-story tower while preserving the steel skeleton of two original facade walls. That involved laser-scanning the old steel supports to get precise measurements of where everything was and carefully drilling new piles 80 feet deep into Manhattan schist, one of the hardest rocks in the world. “Complicating this already complex job,” said CNY CEO Ken Colao, “is the 19,000 people walking by the site every hour.”
But complexity is CNY’s stock and trade. Founded by Colao and his brother, Steve, in 2003, CNY has emerged as a go-to contractor for developers facing the most daunting construction challenges. For one Manhattan high-rise, the company sourced facade components from China and Japan, and had them assembled in Thailand and then shipped to the site in modules, saving 30% on facade construction. It also helps explain why CNY is slated to bring in $340 million in revenue this year, a more than 200% increase over 2012 figures and enough to earn the company the No. 110 spot on Crain’s largest private companies list.
Ken Colao 