Permits have been filed for a 32-story mixed-use building at 30 West 37th Street in Midtown South, Manhattan. Located between Fifth and Sixth Avenues, the interior lot is near the 42nd Street–Bryant Park subway station, served by the B, D, F, and M trains. Jack Yadidi of Fy & Sons TIC LLC is listed as the owner behind the applications.
On August 6, the City Council’s Subcommittee on Zoning and Franchises and Committee on Land Use voted to approve the Midtown South Mixed-Use Plan, a major rezoning in Midtown, Manhattan that will allow for the creation of more than 9,500 new homes, including over 2,800 permanently affordable units. The initiative is the city’s largest residential rezoning in two decades. Developed as part of the city’s broader housing strategy, the plan introduces Mandatory Inclusionary Housing to Midtown South for the first time and includes a $488 million package of community and infrastructure investments.
Tribeca Investment Group, PGIM Real Estate, and Meadow Partners have announced a lease agreement with global litigation firm Quinn Emanuel Urquhart & Sullivan, LLP for a 132,000-square-foot space at the fully renovated 295 Fifth Avenue in Midtown South, Manhattan. This relocation marks one of the largest relocations of 2023 in the surrounding area and reflects a trend of traditional industries filling the leasing gap left by technology firms in the neighborhood. CBRE helped facilitate the transaction on behalf of ownership and represented Quinn in the leasing agreement.
The Landmarks Preservation Commission (LPC) has approved a major renovation project at the historic Martinique New York Hotel at 1260 Broadway in the Koreatown section of Midtown, Manhattan. Led by Building Studio Architects and Burnett Equities, current owner of the hotel, the scope of work includes the installation of marquee signage, modern light fixtures, restoration of the building’s existing windows to historic conditions, and new entryways for retail tenants.
Mayor Eric Adams has ushered in the next phase of the Midtown South Neighborhood Action Plan, a community development plan aimed at facilitating the conversion of office properties into multifamily residential buildings. Over time, the plan will update existing zoning rules and administrative hurdles that slow down the process for developers.