Clinton PB Associates LLC, the joint venture of Extell and Princeton, plans to raze the former sites of Metropolitan Lumber and Penthouse Executive Club, among others, for a 175,000-square-foot, 3,000-seat arena that mirrors London’s ABBA Arena. ABBA Voyage features “Abbatars”—CGI avatars of the band in their prime, performing hits with a live band—which has drawn over three million fans in London since 2022. The NYC venue aims to open in 2028 under a 30-year lease with U.S. operator Isagel LLC. The $511.7 million project includes $39 million in tenant contributions for buildout, with NYCIDA approving a $49.7 million tax incentive package—an 18-year building tax exemption valued at roughly $47.5 million and an additional $2.2 million land tax abatement—to secure it over Las Vegas.
UPSHOT
$511.7M - Total Project Budget
3,000 - Seat Capacity
30 Yr - Lease with Isagel LLC
2028 - Target Opening
Demolition is expected to begin in 2026, with occupancy slated for 2028. As of March 2026 there's no evidence of active site preparation, but supporters of the project remain optimistic that ABBA Voyage will make Hell's Kitchen hot again.
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