Hush Street is tracking what’s being built in Manhattan’s Midtown East.
Two very different booms are happening at once. Around Grand Central and Park Avenue, the 2017 Greater East Midtown rezoning is producing a new generation of office towers, led by a Citadel-anchored supertall at 350 Park Avenue that bought air rights from St. Patrick’s Cathedral and St. Bartholomew’s Church. A few blocks east, older office buildings on Third, Lexington and First Avenues are being converted into apartments: the 11 conversions on this page add up to more than 5,000 homes in Department of Buildings filings.
The conversion wave has also produced the neighborhood’s most alarming story of 2026. In July, two columns buckled inside the former Pfizer headquarters on East 42nd Street, halting the largest conversion here, and weeks later DOB briefly stopped steel work at 750 Third Avenue.
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 |
|---|---|---|
| 1Former Pfizer Headquarters (219-235 East 42nd Street) | 235 E. 42nd St. | Halted After Column Failure |
| 2750 Third Avenue | 750 Third Ave. | Under Construction |
| 36 East 43rd Street | 6 E. 43rd St. | Under Construction |
| 4675 Third Avenue | 675 Third Ave. | Under Construction |
| 51011 First Avenue | First Ave. at E. 55th St. | Under Construction |
| 6Tower 57 (135 East 57th Street) | 135 E. 57th St. | Under Construction |
| 7845 Third Avenue | 845 Third Ave. | Under Construction |
| 8767 Third Avenue | Third Ave. at E. 48th St. | Permitted |
| 9355 Lexington Avenue | Lexington Ave. at E. 40th St. | Permitted |
| 10830 Third Avenue | Third Ave. at E. 50th St. | Permitted |
| 11300 East 42nd Street | 300 E. 42nd St. | Under Construction |
| 12350 Park Avenue (Citadel Headquarters) | Park Ave. at E. 51st St. | Demolition Permitted |
| 13343 Madison Avenue | Madison Ave. at E. 45th St. | Under Construction |
| 14346 Madison Avenue | Madison Ave. at E. 44th St. | Demolition Permitted |
| 15415 Madison Avenue | Madison Ave. at E. 48th St. | Approved; Site Cleared |
| 16Beekman (401 East 51st Street) | First Ave. at E. 51st St. | Topped Out |
| 17250 East 56th Street | Second Ave. at E. 56th St. | Demolition Permitted |
| 18New Providence (225 East 45th Street) | 225 E. 45th St. | Completed (2026) |
Office Buildings Becoming Apartments
Eleven conversions on and around Third Avenue, from the stalled Pfizer complex to a former Archdiocese headquarters on First Avenue.
1
Former Pfizer Headquarters (219-235 East 42nd Street)
The Conversion That Shook the Boom
No one was hurt when the columns buckled, ENR reported, but the failure froze the surrounding area for nearly three weeks, and later reporting by The New York Times found that eight more columns needed repair and that steel reinforcing plates were missing. The city had not announced a cause as of the reporting Hush Street reviewed.
The same developers are converting 675 Third Avenue on the same block, which has no stop-work order in DOB records.
Sources: NYC DOB NOW jobs M01075133-I1 and M01075131-I1; DOB violations for BIN 1037552 (accessed Oct. 2026); ENR (July 2026); The New York Times, via GV Wire (Aug. 2026); The New York Times (Oct. 2026)
2
750 Third Avenue
Paused for Two Days
DOB halted structural steel work on the ninth floor and above on July 28 over welding that did not match the filed plans, then lifted the order after a re-inspection, The Real Deal reported. YIMBY reported in August that demolition began in October 2025 and steel work was underway, with a total project cost of $805 million. The Real Deal also reported that SL Green has been marketing a 65% stake in the project.
Sources: NYC DOB NOW job M01197450-I1; ECB violation, BIN 1036207 (accessed Oct. 2026); The Real Deal (July 2026); New York YIMBY (Aug. 2026)
3
6 East 43rd Street
A $300 Million Brookfield Loan
Vanbarton bought the building for $135 million and closed a $300 million loan from Brookfield, according to YIMBY and the developer. It is one of two Vanbarton conversions on this page, along with 1011 First Avenue, and the company is also converting 77 Water Street in the Financial District.
Sources: NYC DOB NOW job M01297210-I1 (accessed Oct. 2026); New York YIMBY (Nov. 2025); Vanbarton Group
4
675 Third Avenue
Next Door to the Pfizer Site
675 Third Avenue shares a block and a development team with the halted former Pfizer headquarters. The project took a $90 million acquisition and predevelopment loan from Northwind in 2025, The Real Deal reported. DOB records reviewed by Hush Street show no stop-work order here.
Sources: NYC DOB NOW job M01259040-I1 (accessed Oct. 2026); The Real Deal (Sept. 2025); New York YIMBY (June 2026)
5
1011 First Avenue
The Archdiocese's Former Home
The building served as the Archdiocese’s headquarters from 1973. Vanbarton closed a $250 million loan from Eldridge for the conversion, which also includes about 8,000 square feet of retail.
Sources: NYC DOB NOW job M01216837-I1 (accessed Oct. 2026); Vanbarton Group; New York YIMBY (May 2026)
6
Tower 57 (135 East 57th Street)
A Conversion on 57th Street
The 467-m tax incentive that several of these projects use requires a quarter of the apartments to be affordable at an average of 80% of area median income, according to 6sqft. Tower 57 was filed under a newer DOB category for buildings rebuilt around existing elements, which is one reason it is easy to miss in permit searches.
Sources: NYC DOB NOW job M01304547-I1 (accessed Oct. 2026); 6sqft (Aug. 2025); New York YIMBY (May 2026)
7
845 Third Avenue
A Change of Control
The Real Deal reported an $88 million bridge loan from Bank Hapoalim to Quantum Pacific and Metro Loft in March and said Rudin appears to be moving away from ownership. That shift has not yet shown up in a public property record, so both are named here.
Sources: NYC DOB NOW job M01277486-I1 (accessed Oct. 2026); The Real Deal (Mar. 2026); New York YIMBY (May 2026)
8
767 Third Avenue
The Tallest Conversion on Third Avenue
At 40 stories, this is the tallest building in the Third Avenue conversion group. A Metro Loft document mentions a $220 million construction loan, which Hush Street has not reconciled with the $169.5 million reported by Commercial Observer.
Sources: NYC DOB NOW job M01237433-I1 (accessed Oct. 2026); Commercial Observer (Aug. 2025); Commercial Observer (June 2026)
9
355 Lexington Avenue
Rudin's Lexington Avenue Conversion
The financing combines a $139 million building loan with about $35.8 million more, according to Crain’s. YIMBY’s last site visit predates the main permits, so Hush Street lists this as permitted rather than under construction.
Sources: NYC DOB NOW job M01277491-I1 (accessed Oct. 2026); Crain's New York Business (Sept. 2026); Rudin
10
830 Third Avenue
A Studio-Heavy Conversion
According to Yield Pro, 124 of the 188 apartments will be studios and 60 one-bedrooms, a much smaller unit mix than most of the conversions here.
Sources: NYC DOB NOW job M01109601-I1 (accessed Oct. 2026); Multi-Housing News; Yield Pro (Jan. 2026)
11
300 East 42nd Street
A Partial Conversion
CSC bought the office portion of the building in 2025 and took a $45 million loan for the work, according to YIMBY.
Sources: NYC DOB NOW job M01254875-I1 (accessed Oct. 2026); Multi-Housing News (Apr. 2025); New York YIMBY (June 2026)
New Towers, a Supertall & a New Shelter
Office towers rising on Park and Madison under the 2017 rezoning, two new condo and rental towers farther east, and a completed shelter with supportive housing.
12
350 Park Avenue (Citadel Headquarters)
The Rezoning's Biggest Test
The project won its Greater East Midtown approvals in September 2025 (ZAP 2024M0321), buying unused development rights from St. Patrick’s Cathedral and St. Bartholomew’s Church. The Post reported that the deal includes $150 million for landmark maintenance and more than $35 million for the East Midtown Public Realm Improvement Fund.
The new-building application is still in DOB plan review. Citadel’s planned headquarters is a block from JPMorgan Chase’s new 270 Park Avenue, which Hush Street tracks separately, as it does 245 Park Avenue.
Sources: NYC DOB NOW jobs M01297618-I1 and M01297566-I1 (accessed Oct. 2026); NYC Planning ZAP 2024M0321; New York Post (Oct. 2026); ENR (Feb. 2026)
13
343 Madison Avenue
Half Leased Before It Tops Out
Starr and the law firm McDermott Will & Schulte have leased about half the building, according to the Post, and BXP secured a $1.2 billion construction loan in July. Turner Construction holds the foundation, structural and general construction permits.
Sources: NYC DOB NOW job M00615380-I1 (accessed Oct. 2026); New York Post (Oct. 2026); BXP (Business Wire) (July 2026); NYC Planning ZAP 2026M0218
14
346 Madison Avenue
Across the Street From 343 Madison
SL Green and Japan’s Mori Building formed a joint venture for the tower, which will face BXP’s 343 Madison across the avenue. Demolition of the second building, 11 East 44th Street, is approved but not yet permitted.
Sources: NYC DOB NOW jobs M01451684-I1 and M01412252-I1 (accessed Oct. 2026); SL Green; New York Post (May 2026)
15
415 Madison Avenue
Approved, Cleared and Waiting
Demolition of the old building finished in April 2023, YIMBY reported. More than three years later the tower has not started, and Rudin is renewing the special permits it won in 2022, a sign the project is still waiting for the right moment rather than moving into construction.
Sources: NYC Planning ZAP 2026M0275; NYC DOB NOW job M00759520-I1 (accessed Oct. 2026); Rudin; New York YIMBY (Apr. 2023)
16
Beekman (401 East 51st Street)
A New Condo at the Edge of Beekman Place
One of the few ground-up condo towers in the neighborhood, Beekman sits at First Avenue at the gateway to Turtle Bay and Beekman Place. CityRealty also lists completion for fall 2027.
Sources: NYC DOB NOW job M00951363-I1 (accessed Oct. 2026); New York YIMBY (May 2026); CityRealty
17
250 East 56th Street
Clearing a Second Avenue Corner
The new building’s application does not yet list a height; Marketproof’s summary of the filing puts it at 406 feet. CityRealty lists the project as a condominium, which neither the developer nor a primary record has confirmed.
Sources: NYC DOB NOW jobs M01370073-I1 and M01301215-I1 (accessed Oct. 2026); NYC Planning ZAP 2025M0473; Marketproof
18
New Providence (225 East 45th Street)
Supportive Housing in Midtown
New Providence went through the city’s land-use review in 2022 (ZAP 2021M0234) as a disposition of city land, and it is one of the few new homes for lower-income New Yorkers in this part of Manhattan. DOB records list 131 dwelling units on the new-building job and 149 on the certificate of occupancy; the developers describe 130 supportive and affordable apartments plus the shelter.
Sources: NYC DOB certificate of occupancy, job 121253785 (Aug. 2026); NYC Planning ZAP 2021M0234; Project Renewal; New York Housing Conference
What We're Watching Next
The cause of the column failure at the former Pfizer headquarters, and whether it changes how DOB oversees conversions, is the story to watch, along with when 350 Park Avenue’s new building clears plan review. Sites without plans yet include Extell’s 110 East 55th Street assemblage, where a demolition application was filed in August, and Vornado’s 3 East 54th Street, bought for $141 million in January.
Hush Street also tracks individual Midtown East projects, including 383 Madison Avenue, 625 Madison Avenue and the LVMH Tower at 19 East 57th Street. Downtown, the Financial District is going through its own office-to-apartment wave.
Header photo: Grand Central Terminal and East 40th Street, November 2025, by Kidfly182, via Wikimedia Commons, CC BY 4.0, resized.
By Hush Street Editorial Updated Built from city filings and published reporting. About Hush Street
