Those hoping a tower will sprout here will be disappointed.
https://www.multihousingnews.com/jv-lands-94m-for-manhattan-office-to-resi-conversion/
A joint venture between Namdar Realty Group and Empire Capital Holdings has secured a $93.5 million construction loan for the office-to-residential conversion of 830 Third Ave., in Midtown Manhattan. Deutsche Bank issued the financing in a transaction arranged by Institutional Property Advisors’ Capital Markets division.
The conversion will transform 139,980 rentable square feet of office space and 7,121 square feet of ground-floor retail space into 188 apartments. The unit mix will comprise 124 studios, 60 one-bedrooms and four two-bedrooms. The project will come online with the help of New York State’s 467-m affordable housing office-to-residential conversion tax incentive program.