The building, located adjacent to The Museum of Modern Art (Moma), will be built on a 17,000ft² site between 53rd and 54th streets.
The building has been designed to rise to form a “distinctive” spire with a steel and glass façade to reveal the diagrid structural design.
The company says Nouvel’s design maximizes the site “while considering the city’s zoning envelope”.
“Nouvel’s exciting concept has the potential to become an international architectural design icon,” says Hines Chairman Gerald D Hines.
Hines says the building is being considered for a range of uses including a 50,000ft² expansion of MoMA’s galleries, a 100-room, seven-star hotel and 120 luxury residential condominiums on the upper floors.
Hines has previously collaborated with Nouvel on both the 40 Mercer in New York’s SoHo neighbourhood and the C1 Tower currently under development in Paris.
Mr. Nouvel’s completed buildings include the Arab World Institute in Paris, Lyon Opera House and the Lucerne Culture and Congress Center in Berlin.
By Ozge Ibrahim