Posted Oct 8, 2025, 11:47 PM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,640
|
|
https://www.6sqft.com/midtown-south-office-tower-become-studio-apartments-under-rezoning/
Midtown office tower to become 107 studio apartments, first major conversion under rezoning
By Devin Gannon
October 8, 2025
Quote:
An underutilized Midtown office building is set to become over 100 studio apartments in its next life. Infinite Global Real Estate and Buttonwood Development, in partnership with 400 Capital Management, have acquired 29 West 35th Street, with plans to turn the 12-story tower into a rental building. The project marks the first major office-to-residential conversion in the neighborhood following the Midtown South rezoning, approved by the City Council this summer.
The developers plan to turn the century-old building into 107 studio apartments, with 27 designated affordable via the 467-m tax abatement program. The affordable apartments will be priced at $1,701/month, with market-rate units closer to $4,000/month, according to Bloomberg.
The units will measure between 400 and 575 square feet and include ceilings of 11 to 14 feet, designer kitchens, and in-unit washer/dryers. A majority of the units will include flexible spaces, like home offices, alcoves, or bonus rooms, to address “the evolving needs of remote work and modern living.”
Amenities will include a rooftop space with views of the Empire State Building, an outdoor movie screen, a doorman, a pet wash station, and storage.
|
Quote:
The project will repurpose the existing building, which has been mostly vacant. The bar Liberty NYC currently operates on the ground level. Colliers, led by Zach Redding, Dylan Kane, and Matt Mastrocola of the New York Capital Markets group, arranged the sale.
“New York City is home to some of the world’s most beautiful and iconic structures, many of which have outlived their original commercial purpose but possess incredible architectural character that deserves preservation,” Marty Burger, founder and CEO of Infinite Global Real Estate Partners, said.
“Rather than tearing these buildings down, we have an incredible opportunity to breathe new life into them as homes for New Yorkers.”
|
Quote:
“Work patterns have shifted, and proximity to the office is now a top priority for Manhattan residents,” Heiberger said. “They seek efficiency, the ability to walk to work, to enjoy amazing restaurants, and to live in thoughtfully designed spaces. We’re delivering on that vision with 29 West 35th Street, where true live-work lifestyle isn’t a luxury but a priority.”
In August, the City Council voted to approve the Midtown South Mixed-Use Plan (MSMX), which covers about 42 blocks between West 23rd Street and West 40th Street, and between 5th Avenue and 8th Avenue. Updating the zoning rules allows for new housing to be built in the area, which has largely been limited to commercial space. Officials estimate 9,500 new apartments could be built in the neighborhood.
|
__________________
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.
|