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.
Developer SL Green has again partnered with Michelin-starred chef Daniel Bolud on a dining concept in Manhattan. This time, the venture will launch a European-style marketplace and a steakhouse at One Madison Avenue, a new Class A office building currently under construction in Manhattan’s Flatiron District.
Tribeca Investment Group, Meadow Partners, and PGIM Real Estate have secured $150 million in construction financing to complete a commercial modernization project at 295 Fifth Avenue in Midtown, Manhattan. Construction recently completed on a penthouse addition, bringing the structure to 19 stories and 710,000 square feet.
Construction is complete on a new two-story penthouse space atop 295 Fifth Avenue, a 16-story commercial building in Midtown South, Manhattan. Designed by Studios Architecture and developed by Tribeca Investment Group, PGIM Real Estate, and Meadow Partners, the 34,000-square-foot space will contain modern light-filled workspaces and multiple wraparound terraces with sweeping views of the Midtown skyline.
Anchorage Digital and Life Science REIT are the first new tenants to join 470 Park Avenue South following a $15 million renovation of the Midtown commercial building. SJP Properties and PGIM Real Estate, the building’s current owners, retained Gensler and MKDA to complete the modernization project, which was unveiled in February.