This building will become Macy's Parade Studio, the place where Macy's builds all the floats and balloons used in the Macy's Thanksgiving Day Parade. Macy's is leaving their current facility in Hoboken and moving here because they need more space. This new three story building is supposed to have enough space inside to inflate one of the giant parade balloons for testing. The building is supposed to be complete by August, and I suspect that this Thanksgiving we will be seeing floats and balloons across from my workplace. It could make for some interesting photo-ops.
What you see has been erected in 3 days time. The additional concrete pads show that a lot more steel is still to be erected.