Office

Renovation Work Continues on Morgan Stanley HQ at 1585 Broadway in Times Square, Manhattan

8:00 am on February 26, 2025 By Michael Young and Matt Pruznick

Renovation work is progressing on 1585 Broadway, a 42-story office skyscraper in Times Square, Manhattan. Designed by Gensler, the project involves the re-cladding of the 685-foot-tall structure’s podium and refurbishments to the tower’s 1.3 million square feet of office space. The building was completed in 1990 and serves as Morgan Stanley’s global headquarters. The property is located between West 47th and 48th Streets.

Loan Restructuring Completed for Prince Building at 568 Broadway in SoHo, Manhattan

7:30 am on February 26, 2025 By Max Gillespie

Walker & Dunlop has arranged a $200 million construction loan restructuring for the Prince Building, a 12-story commercial building at 568 Broadway in Soho, Manhattan. Originally completed in 1897, the structure offers a mix of office and retail space. The loan restructuring was secured on behalf of Aurora Capital Associates, working alongside Walker & Dunlop’s New York Capital Markets team. The property is located at the corner of Prince Street and Broadway.

Excavation Begins for 570 Fifth Avenue Skyscraper in Midtown, Manhattan

8:00 am on February 25, 2025 By Michael Young and Matt Pruznick

Excavation is underway at 570 Fifth Avenue, the site of a 29-story office skyscraper on the eastern edge of the Diamond District in Midtown, Manhattan. Designed by Kohn Pedersen Fox and developed by Extell Development, the 567-foot-tall structure will yield 637,312 square feet of Class A office space. The building will also contain retail space on floors one and two, an 80,000-square-foot flagship store for IKEA on the first two cellar levels, and a gym, swimming pool, basketball court, and juice bar on the third and fourth below-grade stories. The property is located between West 46th and 47th Streets.

Updated Renderings Showcase SOM’s $700 Million New York Climate Exchange on Governors Island

8:00 am on February 21, 2025 By Michael Young and Matt Pruznick

Updated renderings have been revealed for the New York Climate Exchange, an environmental research facility and climate solutions center planned for Governors Island in New York Harbor. Designed by Skidmore, Owings & Merrill in collaboration with MNLA, Buro Happold, and Langan Engineering, the $700 million project will consist of a 400,000-square-foot research and education hub anchored by Stony Brook University. The complex’s two all-electric buildings will be connected by a distinctive photovoltaic canopy and will use sustainable mass timber as their primary structural material. The development site is generally bound by Craig Road South along the waterfront, the Oval green lawn and West Way to the west, and several historical landmark buildings to the north above Division Road.

63-Story Skyscraper Revealed for Second Phase of Alloy Block in Downtown Brooklyn

8:00 am on February 19, 2025 By Michael Young and Matt Pruznick

Designer and developer Alloy Development has revealed new renderings for One Third Avenue, a 63-story skyscraper in the second phase of the Alloy Block complex in Downtown Brooklyn. The 725-foot-tall structure will rise to the northwest of the completed 44-story Alloy Block tower at 505 State Street and will secure the title of the tallest Passive House-engineered building in the world. The building will yield 583 market-rate and affordable housing units, retail space, and commercial office space. The Alloy Block is bound by Flatbush Avenue to the northeast, Third Avenue to the northwest, and State Street to the south.

RFEI to Be Issued For 44-36 Vernon Boulevard’s Redevelopment in Long Island City, Queens

7:30 am on February 16, 2025 By Michael Young and Matt Pruznick

The New York City Economic Development Corporation (NYCEDC) is planning to issue a Request For Expressions of Interests (RFEI) on behalf of the city for 44-36 Vernon Boulevard, a six-story commercial building in Long Island City, Queens. The RFEI is an appeal to the public for input on the redevelopment of the 672,000-square-foot structure, which currently serves as the central hub for New York City’s Department of Education. Based on the public feedback, the city will decide whether to embark on a full or partial transformation of the property into revamped commercial, light industrial, or community space. The redevelopment could also include the addition of waterfront access under the OneLIC Long Island City Neighborhood Plan initiative by the Department of City Planning (DCP). The property is located along Anable Basin at the intersection of Vernon Boulevard and 44th Drive.

Public Review Set for 1,600-Foot Supertall at 350 Park Avenue in Midtown East, Manhattan

8:00 am on February 7, 2025 By Michael Young and Matt Pruznick

The public review process is scheduled to begin next month for 350 Park Avenue, a nearly 1,600-foot-tall office skyscraper in Midtown East, Manhattan. Designed by Foster + Partners and developed by Vornado Realty Trust, Rudin, and Ken Griffin, the 62-story supertall will yield 1.8 million square feet of Class A office space with a capacity of 6,000 employees. Griffin’s companies Citadel and Citadel Securities will serve as anchor tenants, occupying at least 850,000 square feet. The property is located between East 51st and 52nd Streets.

Rendering of 10th Avenue entrance, via Wells Fargo

Re-cladding Nears Completion on 20 Hudson Yards in Hudson Yards, Manhattan

8:00 am on February 4, 2025 By Michael Young and Matt Pruznick

Re-cladding work is nearing completion at 20 Hudson Yards, a partial retail-to-office conversion in Hudson Yards, Manhattan. Designed by Kohn Pedersen Fox and developed by Related Companies, the project involves the repurposing of the top three levels of the Shops & Restaurants at Hudson Yards mall into a 445,000-square-foot office for Wells Fargo. The conversion will accommodate a capacity of 2,300 employees, allowing the financial institution to consolidate most of its New York workforce into one location, along with the nine stories it also occupies at 30 Hudson Yards. The property is located along Tenth Avenue by the intersection with West 31st Street.

Excavation, Pilings Progress at 37-18 138th Street in Flushing, Queens

8:00 am on January 26, 2025 By Michael Young and Matt Pruznick

Excavation and pilings are progressing at 37-18 138th Street, the site of a nine-story commercial building in Flushing, Queens. Designed by Akaia Architecture with Angelo Ng & Anthony Ng Architects Studio as the architect of record, and developed by New Age Developers LLC, the 120-foot-tall structure will yield 65,000 square feet of commercial space to be occupied by restaurants, retail, offices, and a rooftop bar, as well as 27,000 square feet of medical office space. The property is bound by 37th Avenue to the north, 38th Avenue to the south, and 138th Street to the east.

New 20-Year Lease Signed for 7 Times Square In Midtown, Manhattan

7:00 am on January 14, 2025 By Max Gillespie and Matt Pruznick

Apparel holding company KnitWell Group has signed a 20-year lease extension for 246,000 square feet at 7 Times Square, a 47-story office skyscraper in Times Square, Manhattan. The lease will expand the company’s existing 191,000-square-foot presence in the building by two additional full floors. Designed by SOM and developed by Boston Properties, the 724-foot-tall structure spans 1.25 million square feet and is located at West 42nd Street between Broadway and Seventh Avenue.

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