A look at the latest crop of high-rises rising in NYC

After nearly half a decade of COVID stagnation, morale is set to soar as fresh, high-tech developments that will reshape the NYC skyline are closer to reality. They are adding much needed housing and trophy new commercial office space.

“The sense of stability by having a new president helps the market and it helps the next president, Donald Trump, be in real estate,” said Adelaide Polsinelli, a trading broker with Compass. “It has instilled a lot of confidence in what’s to come in 2025.”

Look out for 942 new apartments to be built inside 5 Times Square – many of which will have a bird’s-eye view of the Ball Drop Building and the tourist-filled Bow Tie.

It’s a complex project being undertaken by architect Dan Shannon’s MdeAS firm, which is also converting buildings like 140 W. 57th St. It will be converted from boutique offices to condominiums for the Feil Organization – something considered since Feil bought it in 2016.

“It’s a huge financial investment to convert in this market,” Shannon said. “We’ve probably easily seen the 15th and I don’t think there’s any owner who hasn’t. Some pencil, some not.”

After the artist studies before the office is made, construction of the project near Carnegie Hall will begin during the first quarter of this year with sales starting in the second half of 2026.

“There is a need to address buildings that are aging competitively, to repurpose them for other uses and to ensure that we have vibrancy in each of our CBD submarkets.”

RXR’s Scott Rechler

“We look forward to delivering 47 new residential units along the famous Billionaires Corridor,” said Brian Feil. “As the need for housing continues to grow, we are confident that residential is the best use for this building.”

In another potential conversion, embattled developer Charles Cohen wants to create 172 units within the upper 27 floors at 623 Fifth Ave., which rises above and connects to Saks Fifth Avenue. Cohen’s family-owned firm is also planning to demolish a nine-story office building at 3-15 E. 54th St. and are likely to be rebuilt as condominiums.

At 830 Third Ave., 188 residential apartments will replace office space, while Quantum has teamed up with Metro Loft Management to flip 767 Third. Rudin is also looking at a conversion for 845 Third. And finally, SL Green expects to spend $805 million on 750 Third to turn it into 639 apartments with 25% affordable units under the new 467-foot setback program.

“There is a need to address aging buildings competitively, repurpose them for other uses and ensure we have vibrancy in each of our CBD submarkets,” said Scott Rechler of RXR.

With the new “City of Yes” rezoning, investors and converters have concentrated on Midtown South, where many are vacant and no longer attract office users.

“I get calls every three days about office-to-residential conversions,” said Shaun Pappas, an attorney partner with Starr Associates. “It’s such a hot topic.”

There are other, even bigger projects on the horizon.

Sedesco is preparing to build a 1,100-foot-tall luxury skyscraper on Billionaire’s Row at 41 W. 57th St. with Related planning another, reaching 1,200 feet at 625 Madison. Work will begin on ramps for a redesigned Port Authority bus terminal on West 42nd Street that could be topped by two office towers in a decade.

The state has tapped Boston Properties (now BXP), along with BRP Cos., Moinian Group and Urbane Development to build a new $1.35 billion, 28-story Hilton convention center at 418 Eleventh Ave. across from the Javits Center that will include a 72-story building with 1,400 apartments, of which 404 will be affordable.

To also serve the convention center, Marx Development is already completing a 51-story, 379-room Marriott hotel at 450 Eleventh Ave. that will reflect the light from its facade like a Rubik’s Cube.

A city proposal to develop a 600-foot-tall, mixed-income apartment tower with space for the Whitney Museum expansion and offices for Friends of the High Line in the Meatpacking District. It will have sweeping views of the Hudson River, but it’s already getting backlash from NIMBYs in this YIMBY economy.

Further downtown, Brookfield and Silverstein Properties will also develop a new 5 World Trade Center mixed-use residential building. And if his prayers are answered, Larry Silverstein may break ground on the office building at 2 World Trade Center with American Express as its anchor tenant.

And, of course, there’s also a new soccer stadium and surrounding buildings coming to Queens courtesy of Related and Sterling Equities. Etihad Park is being built for the New York Football Club on a 23-acre site in Willets Point that will include a new 650-seat public school, 2,500 affordable housing units, a new hotel, retail and lots of green space. .

“Since the election we’ve all been feeling a blanket of confidence that’s been thrown over everyone — even the Democrats,” said housing broker Vickey Barron of Compass.