“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Not much change. I really want to see what's working with this one.
MARCH 28, 2026
__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
I hope that this site is combined with the Vornado/LeFrak site. I suspect that Soloviev’s site will be empty for decades, as will the Jeffries-Morris site. Further, if Sedesco's site is not combined with the Vornado/LeFrak site, the latter also will sit vacant for several extra decades.
First Subway Elevators Fully Funded by Developer to Open in Midtown
The pair of lifts were created in a program where companies pick up the tab for accessibility upgrades in exchange for permission to construct larger buildings.
BY JOSE MARTINEZ
JUNE 30, 2026
Quote:
Even before another “Billionaires’ Row” tower pierces the Manhattan skyline, the developer of the planned skyscraper is leaving a mark underground.
Two new subway elevators at the 57th Street stop beneath Sixth Avenue are fully funded by the real estate firm Sedesco, which plans to build a high-rise at 41 W. 57th St., a long-empty plot between Fifth and Sixth avenues. The project is part of an initiative in which companies pick up the tab for Americans with Disabilities Act transit improvements while being granted permission by the city to construct larger buildings.
Quote:
The station along the M line is the first to become fully accessible on a developer’s dollars under Zoning for Accessibility, a city and MTA program which provides real estate companies with bonuses to pay for the construction and maintenance of elevators in or near the transit system.
Zoning for Accessibility is a way of us accelerating this tremendous commitment that we’ve made to making as many of our stations accessible as possible as quickly as possible,” Jamie Torres-Springer, president of MTA Construction & Development, told The City Reporter. “And in a city as frenetic and real-estate driven as New York, a great opportunity for us to do that is to leverage the power of public-private partnership.”
Approved by the City Council in 2021, the initiative is seen by the transportation authority as a way to help fast-track its federal court-mandated goal of making 95% of the nearly 500 subway and Staten Island Railway stations accessible to people with disabilities by 2055.
Quote:
The MTA last week announced that the 50th Street station along the No. 1 line will get elevators and other improvements through a deal with the real estate giant Extell, which will build a more than 1,000-foot Manhattan tower at 871 Seventh Ave.
Quote:
Sedesco was the first company to sign on with the 2021 zoning-law change in exchange for upgrades to the station closest to its planned hotel-and-residential development. The development firm received a 20% bonus of buildable space on its project. It will be built on the stretch where luxury high-rises labeled “supertalls” have altered the skyline along what’s known as Billionaires’ Row.
“We’ve been working on completing this work on the [57th Street] station before we’ve even put a shovel in the ground on our development,” said Derek Gilchrist, partner and general counsel at the firm.
The development at one point was projected to be a 63-story, 1,100-foot-high tower, according to city records, though those plans are still in flux.
Meanwhile, the work continued underground.
In addition to the two new elevators, Sedesco paid for other ADA upgrades such as new fare gates and eight nearby curb cuts at street level.
The deal calls for the company to cover the costs of eventually replacing both elevators. One links the street level with the station mezzanine, while the other moves riders between the platform and mezzanine.
Quote:
The MTA has hopes of expanding Zoning for Accessibility and has additionally secured eight easements — a legal right of way through private space — at developments where elevators connecting to the transit system could eventually be paid for by companies erecting buildings near or on top of the transit system.
__________________ NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
This is the only project on 57th Street between 5th and 6th Avenues that I have any faith in. Soloviev is sitting on a goldmine, yet I suspect that it will pull a Vornado (i.e., Alexanders, Rizzoli, Hotel Penn....) and that its site will be empty for many years.
Prev
Linear Mode
