The East River esplanade at Waterside Plaza in Kips Bay
Development Tracker — Murray Hill & Kips Bay

What's Being Built in Murray Hill & Kips Bay? The Empty Freedom Plaza Site, a Tower That Doubled on Paper & Holdouts on East 33rd Street

Hush Street tracks what's changing in Murray Hill and Kips Bay: the empty Freedom Plaza site after its casino bid failed, 567 Third Avenue's tower, The Morgan on East 35th Street, a tower stalled by holdout tenants and five new buildings finished in 2025 and 2026.
16
Projects Tracked
562
Apartments in Buildings Finished 2025-26
3
Stalled Sites
3
Under Construction
Oct. 2026
Updated
Watch → 1 Stop-Work Order Freedom Plaza Site Vacant
By Hush Street Editorial
What’s Changing
→
DOB issued foundation permits for Lalezarian's tower at 567 Third Avenue.Oct. 2026
→
Aurora Capital took over the 609 Second Avenue condo from Horizon and Leser.Oct. 2026
→
The City Council funded 40 more psychiatric beds at Bellevue.Sep. 2026
Money Moving →
The Morgan (38 E. 35th St.) Site purchase (Commercial Observer)$66M
567 Third Avenue Site purchase (YIMBY)$20.05M
See the towers →
PROJECTS FIRST AVENUE UNDER WAY & WAITING FINISHED

Hush Street is tracking what’s being built in Murray Hill and Kips Bay.

Murray Hill’s new housing mostly comes as mid-block towers on assembled walk-up lots. Five buildings with more than 550 apartments between them received certificates of occupancy in 2025 and 2026, and more are rising, including The Morgan on the former Community Church site and Lalezarian’s tower at 567 Third Avenue.

The biggest open question is the vacant former Con Ed site on First Avenue between 38th and 41st Streets. Its Freedom Plaza casino plan died in September 2025 and no new plan has surfaced. In Kips Bay, a tower on East 33rd Street has been stalled by rent-regulated tenants who will not leave, and the city is clearing Hunter College’s Brookdale campus for SPARC Kips Bay.

Where DOB records and press reports disagree on heights or unit counts, both are given. A permit is not treated as proof that construction has started.

Project Location Status
1The Freedom Plaza Site First Ave., E. 38th–41st Sts. Stalled
2East 34th Street Waterfront Open Space E. 34th St. at the FDR Drive Opening Unconfirmed
3Bellevue Inpatient Psychiatry Expansion First Ave. at E. 27th St. Funded
4567 Third Avenue Third Ave. at E. 37th St. Permitted
5The Morgan (38 East 35th Street) E. 35th St., Madison–Park Aves. Under Construction
6218 Madison Avenue Madison Ave. at E. 36th St. Under Construction
7260 Madison Avenue Madison Ave., E. 38th–39th Sts. Under Renovation
8339-345 East 33rd Street E. 33rd St., First–Second Aves. Stalled
912 East 37th Street E. 37th St., Fifth–Madison Aves. Stalled
10203-215 East 38th Street Third Ave. at E. 38th St. Demolished; No Plan Filed
119 East 36th Street E. 36th St., Fifth–Madison Aves. Demolition Approved
12The Dian (162 East 36th Street) E. 36th St. at Third Ave. Temporary CO Issued
13The Lotus (255 East 39th Street) E. 39th St., Second–Third Aves. Temporary CO Issued
14650 First Avenue First Ave. at E. 37th St. Completed
15The Willow (201 East 23rd Street) E. 23rd St. at Third Ave. Temporary CO Issued
16609 Second Avenue Second Ave. at E. 33rd St. Temporary CO Issued

The First Avenue Waterfront

An empty superblock, a parking lot turned public space and more psychiatric beds at Bellevue.

1

The Freedom Plaza Site

Google Maps of First Avenue and East 39th Street, New York, NY
The vacant former Con Ed site on First Avenue, via Google Maps. — Imagery: Google Maps
Address/Location666 First Avenue, the former Con Ed Waterside site
Developer/ApplicantSoloviev Group (PLUTO owner of record: 700 First Realty Company)
ProjectA vacant waterfront superblock of about 276,000 square feet (PLUTO). The Freedom Plaza proposal would have built a casino, two hotel towers and 1,325 apartments, 1,080 of them permanently affordable, designed by BIG (YIMBY).
StatusStalled
Latest UpdateA state Community Advisory Committee voted 4-2 against the casino bid on Sept. 22, 2025, ending its licensing path (YIMBY). No new plan, City Planning application or DOB filing has appeared since.

The Largest Empty Site in the Neighborhood

The casino plan went through the state gaming process rather than city land-use review. Any housing-only plan would start from scratch. The completed 685 First Avenue tower stands on the southern part of the old Con Ed land.

Sources: New York YIMBY (Sept. 2025); Gaming America; NYC PLUTO, BBL 1009700001 (accessed Oct. 2026)

2

East 34th Street Waterfront Open Space

Google Maps of East 34th Street and FDR Drive, New York, NY
The east end of 34th Street at the FDR Drive, via Google Maps. — Imagery: Google Maps
Developer/ApplicantNYC Economic Development Corporation with NYC Parks
ProjectConversion of a city-owned parking lot into temporary public open space with accessible fitness equipment and seating, part of the SPARC Kips Bay public-space package (NYCEDC).
StatusOpening Unconfirmed
Latest UpdateNYCEDC, NYC Parks and Council Member Keith Powers announced the project in October 2025 with completion expected in spring 2026. Hush Street has not confirmed that it opened.

A Parking Lot Becomes a Park

The lot is near the East 34th Street ferry landing.

Sources: NYCEDC (Oct. 2025); Streetsblog NYC (Oct. 2025)

3

Bellevue Inpatient Psychiatry Expansion

Google Street View of NYC Health + Hospitals Bellevue, 462 First Avenue, New York, NY
Bellevue Inpatient Psychiatry Expansion, via Google Street View. — Imagery: Google Street View
Address/Location462 First Avenue
Developer/ApplicantNYC Health + Hospitals/Bellevue, funded by the City Council
Project$25.6 million to modernize Bellevue’s adult inpatient psychiatric units and add 40 beds, alongside a separate $40 million expansion of its psychiatric emergency program (NYC Health + Hospitals).
StatusFunded
Latest UpdateThe City Council and NYC Health + Hospitals announced the funding on Sept. 23, 2026. No construction schedule or DOB filing for the work has been published.

A Hospital at 98 Percent

Health + Hospitals said Bellevue’s psychiatric units run at 98 percent occupancy. Becker’s reported the money is split across the 2027 and 2028 fiscal years.

Sources: NYC Health + Hospitals (Sept. 2026); Becker's Behavioral Health

Under Way & Waiting

Towers rising between Madison and Third Avenues, and sites held up by holdouts, objections or no plan at all.

4

567 Third Avenue

Google Street View of 567 Third Avenue, New York, NY
567 Third Avenue, via Google Street View. — Imagery: Google Street View
Address/Location567 Third Avenue
Developer/ApplicantLalezarian Properties; SLCE Architects
ProjectA residential tower that the press has described as 34 stories, 352 feet and about 200 condos (YIMBY, CityRealty). The DOB filing for the same job now lists 54 stories, 590 feet and 204 units; no public account of the taller version has been found.
StatusPermitted
Latest UpdateDOB issued excavation-support and foundation permits on Oct. 15 and 16, 2026 and a fence permit on Oct. 20, though the main new-building application is still in objections. CityRealty estimates completion in 2029.

A Tower That Grew on Paper

Lalezarian bought the assemblage for $20.05 million, YIMBY reported in April 2025. Records from 2024 cite damage to a neighboring apartment during demolition.

Sources: New York YIMBY (Apr. 2025); CityRealty (Mar. 2026); NYC DOB NOW job M00749928-I1 (Oct. 2026)

5

The Morgan (38 East 35th Street)

Google Street View of 38 East 35th Street, New York, NY
The Morgan (38 East 35th Street), via Google Street View. — Imagery: Google Street View
Address/Location38 East 35th Street
Developer/ApplicantThe Continuum Company; INC Architecture and Design with SLCE Architects
ProjectAn 18-story condominium with 137 apartments on the former Community Church of New York site, near the Morgan Library (DOB, Field Condition).
StatusUnder Construction
Latest UpdateFaçade installation was under way in April 2026 (Field Condition), and DOB renewed the construction permit on Sept. 2. Completion is expected in 2027.

Built After a Fatal Demolition

Continuum bought the church property for $66 million, Commercial Observer reported in November 2024. A construction worker was killed at the demolition site in December 2024, Crain’s and the Daily News reported.

Sources: Field Condition (Apr. 2026); Commercial Observer (Nov. 2024); Crain's New York Business (Dec. 2024); NYC DOB NOW job M01062289-I1 (Sept. 2026)

6

218 Madison Avenue

Google Street View of 218 Madison Avenue, New York, NY
218 Madison Avenue, via Google Street View. — Imagery: Google Street View
Address/Location218 Madison Avenue
Developer/ApplicantRybak Development; IMC Architecture
ProjectA limestone condominium of 10 stories and 26 apartments (DOB); the offering plan and CityRealty describe 11 stories and 25 homes.
StatusUnder Construction
Latest UpdateDOB signed off the structural work in March 2026 and renewed the construction permit on Oct. 2. The condo offering plan was filed in August 2025.

Across From the Morgan Library

CityRealty gives completion as late 2026 in one place and 2027 in another.

Sources: New York YIMBY (Apr. 2025); NYC DOB NOW job M01042409-I1 (Oct. 2026)

7

260 Madison Avenue

Google Street View of 260 Madison Avenue, New York, NY
260 Madison Avenue, via Google Street View. — Imagery: Google Street View
Address/Location260 Madison Avenue
Developer/ApplicantAmTrustRE; MdeAS Architects
ProjectA renovation of a 22-story, 570,000-square-foot office tower with a double-height glass entrance, a 7,000-square-foot amenity floor and new ground-floor retail (YIMBY).
StatusUnder Renovation
Latest UpdateYIMBY published renderings on Oct. 24, 2026 and reported work under way, with completion expected in 2027. DOB issued interior and HVAC permits on Oct. 22 and 23.

Upgrading Offices, Not Converting Them

It is one of several Midtown office buildings being upgraded to compete for tenants; others are on the Midtown East tracker.

Sources: New York YIMBY (Oct. 2026); NYC DOB NOW jobs M01428014-I1 and M01428061-I1 (Oct. 2026)

8

339-345 East 33rd Street

Google Street View of 339 East 33rd Street, New York, NY
339-345 East 33rd Street, via Google Street View. — Imagery: Google Street View
Address/Location339 East 33rd Street
Developer/ApplicantExcel Development Group; GF55 Architects
ProjectA 23-story tower with 133 apartments (DOB) on four walk-up buildings, rezoned by the City Council in 2018. The City Reporter described up to 160 apartments, a quarter of them affordable.
StatusStalled
Latest UpdateDOB issued a stop-all-work order on July 23, 2025 after the applicant of record withdrew. The City Reporter reported in August 2026 that six rent-regulated tenants remain and the developer is considering a design that wraps around one holdout’s building.

Six Tenants Who Won't Leave

A state application to end the regulated leases for demolition has been pending since 2023, The City Reporter reported, and the developer could lose a tax benefit if the building is not finished in time.

Sources: The City Reporter (Aug. 2026); Crain's New York Business; NYC DOB BIS job 121205686 and violation 25-01727 (July 2025)

9

12 East 37th Street

Google Street View of 12 East 37th Street, New York, NY
12 East 37th Street, via Google Street View. — Imagery: Google Street View
Address/Location12 East 37th Street
Developer/ApplicantOcean Avenue 2010 LLC; Gerner Kronick + Valcarcel Architects
ProjectA 33-story, 323-foot tower with 121 apartments (DOB), first reported by YIMBY in 2021.
StatusStalled
Latest UpdateThe new-building application has been in DOB objections since Nov. 20, 2024, and no demolition or foundation permits have been issued.

Filed Five Years Ago

No public plan or timeline has been announced.

Sources: New York YIMBY (Mar. 2021); NYC DOB NOW job M00665956-I1 (accessed Oct. 2026)

10

203-215 East 38th Street

Google Street View of 205 East 38th Street, New York, NY
203-215 East 38th Street, via Google Street View. — Imagery: Google Street View
Address/Location205 East 38th Street, with 581-583 Third Avenue
Developer/ApplicantBLDG Management
ProjectA cleared assemblage at the northeast corner of Third Avenue and East 38th Street, next to the Queens-Midtown Tunnel exit. CityRealty estimates it could hold about 180,000 square feet.
StatusDemolished; No Plan Filed
Latest UpdateDOB signed off the demolition of the five-story parking garage on the site in June 2026. No new-building application has been filed.

A Corner Waiting for a Building

CityRealty reported that an earlier idea for a consulate tower is no longer moving forward.

Sources: CityRealty (Mar. 2026); NYC DOB NOW job M00843309-I1 (June 2026)

11

9 East 36th Street

Google Street View of 9 East 36th Street, New York, NY
9 East 36th Street, via Google Street View. — Imagery: Google Street View
Address/Location9 East 36th Street
Developer/ApplicantThe Chetrit Group
ProjectDemolition of a five-story building with 16 apartments (DOB). No replacement plan has been filed.
StatusDemolition Approved
Latest UpdateDOB approved the full-demolition application on July 10, 2026, but has not issued the permit. The Real Deal listed the filing in March.

A Walk-Up Slated to Come Down

A violation issued in April 2026 suggests the building was still occupied at the time.

Sources: The Real Deal (Mar. 2026); NYC DOB NOW job M01348273-I1 (July 2026)

Finished in 2025 & 2026

Five buildings with more than 550 apartments between them, from a converted office building to a condo tower whose unsold units changed hands.

12

The Dian (162 East 36th Street)

Google Street View of 162 East 36th Street, New York, NY
The Dian (162 East 36th Street), via Google Street View. — Imagery: Google Street View
Address/Location162 East 36th Street
Developer/ApplicantGilar Realty and Ranco Capital; Ismael Leyva Architects
ProjectA 22-story rental building with 160 apartments (DOB, YIMBY).
StatusTemporary CO Issued
Latest UpdateDOB has issued temporary certificates of occupancy since April 2026, most recently on Oct. 14. YIMBY described the building as nearing completion on Oct. 13.

Finishing After Long Pauses

City inspection records show long stretches with no activity on the site in 2025 and early 2026.

Sources: New York YIMBY (Oct. 2026); NYC DOB BIS job 121207942 and CO records (Oct. 2026)

13

The Lotus (255 East 39th Street)

Google Street View of 255 East 39th Street, New York, NY
The Lotus (255 East 39th Street), via Google Street View. — Imagery: Google Street View
Address/Location255 East 39th Street
Developer/ApplicantBrause Realty with Lonicera Partners and AECOM Tishman; CetraRuddy
ProjectA 20-story rental building with 157 apartments (DOB).
StatusTemporary CO Issued
Latest UpdateDOB issued temporary certificates of occupancy from Feb. 25, 2026, most recently on Aug. 13. CityRealty reported apartments coming online in late March.

Leasing Near the Tunnel

It topped out in September 2024, YIMBY reported.

Sources: CityRealty (Mar. 2026); New York YIMBY (Sept. 2024); NYC DOB NOW job M00672872-I1 and CO records (Aug. 2026)

14

650 First Avenue

Google Street View of 650 First Avenue, New York, NY
650 First Avenue, via Google Street View. — Imagery: Google Street View
Address/Location650 First Avenue
Developer/ApplicantLalezarian Properties; Ismael Leyva Architects
ProjectConversion of an eight-story office building into 111 apartments, with three stories added (DOB). 28 apartments were offered through the affordable lottery (YIMBY).
StatusCompleted
Latest UpdateDOB issued a certificate of occupancy on Dec. 10, 2025, renewed through September 2026. The lottery opened in December 2025.

An Office Conversion on First Avenue

6sqft described the building as a former brewery.

Sources: New York YIMBY (Dec. 2025); 6sqft; NYC DOB NOW job M08030325-I1 and CO records (Sept. 2026)

15

The Willow (201 East 23rd Street)

Google Street View of 201 East 23rd Street, New York, NY
The Willow (201 East 23rd Street), via Google Street View. — Imagery: Google Street View
Address/Location201 East 23rd Street
Developer/ApplicantNaftali Group; COOKFOX Architects
ProjectA 19-story brick condominium with 69 apartments (DOB) where Kips Bay meets Gramercy.
StatusTemporary CO Issued
Latest UpdateDOB issued temporary certificates of occupancy from April 22, 2026, most recently on Oct. 19, and units are listed for sale.

Brick at 23rd Street

YIMBY reported the brick façade taking shape in September 2025.

Sources: New York YIMBY (Sept. 2025); Naftali Group; NYC DOB NOW job M00992159-I1 and CO records (Oct. 2026)

16

609 Second Avenue

Google Street View of 609 Second Avenue, New York, NY
609 Second Avenue, via Google Street View. — Imagery: Google Street View
Address/Location609 Second Avenue
Developer/ApplicantHorizon Group and Leser Group
ProjectAn 18-story condominium with 65 apartments (DOB).
StatusTemporary CO Issued
Latest UpdateThe Real Deal reported on Oct. 9, 2026 that Aurora Capital took over the building from Horizon and Leser. DOB signed off the new-building job in March 2026 after temporary certificates of occupancy from June 2025.

A Slow-Selling Condo Changes Hands

Terms of the takeover were not disclosed.

Sources: The Real Deal (Oct. 2026); NYC DOB BIS job 123756015 and CO records (Mar. 2026)

What We're Watching Next

Any new plan for the Freedom Plaza site, construction at 567 Third Avenue and which height it is built to, a decision on the East 33rd Street holdouts, new-building filings for the BLDG and Chetrit sites, and whether the East 34th Street open space has opened are next.

Hush Street also tracks Flatiron, NoMad & Gramercy, including SPARC Kips Bay and 567 Second Avenue, and Midtown East north of 40th Street, where 383 Madison Avenue is one of several office towers being reworked.

Header photo: the East River esplanade at Waterside Plaza, Kips Bay, 2025, by Transpoman, via Wikimedia Commons, CC BY-SA 4.0.

By Updated Built from city filings and published reporting. About Hush Street

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