Times Square Office Tower Will Be Converted Into 1,250 Apartments

Times Square Office Tower Will Be Converted Into 1,250 Apartments

State Approves 5 Times Square Conversion, Will Get 1,250 Apartments - New York City, NY - The project at 5 Times Square​​ will also include 313 permanently affordable homes for New Yorkers, officials said.

Times Square office tower to become 1,250 apartments

A largely vacant office tower in Times Square is set to become a mixed-use development with 1,250 new homes. The Empire State Development (ESD) on Thursday voted to approve the conversion of 5 Times Square, a 38-story building on 7th Avenue between 41st and 42nd Streets. About 313 apartments will be permanently affordable to New Yorkers earning up to 80 percent of the area median income in exchange for a tax exemption under a new office-to-housi…

5 Times Square Gets Green Light For 1,250-Unit Conversion

Apollo Global Management, SL Green and RXR plan to convert the 1.1M SF office tower into 1,250 rental units, 313 of which would be permanently affordable.