NAI Resolution Handles $100 Million Makeover of Manhattan’s Landmark McGraw-Hill Building
In big news for New York commercial real estate, the iconic McGraw-Hill building is about to get a USD100 million makeover courtesy of NAI Resolution Real Estate.
Located in the heart of Midtown Manhattan at 330 W. 42nd St., the stunning Art Deco/International style tower has been a Manhattan office landmark since it was first built in 1931.
With the renovations, the tower will be reimagined as a combination of high-end office space and cutting-edge luxury residential development.
Room for a view
NAI Resolution’s development plans include converting floors 12 through 32 into one- and two-bedroom elegant, loft-style apartments. The apartments will feature 12-15 foot ceilings and large windows to take advantage of the spectacular city-scape views from the building. Floors 33 and 34 will be converted to amenity space for residents.
Gerald Nocera, Managing Partner at NAI Resolution states: “The McGraw-Hill building is perfectly suited for this type of conversion, with its incredible ceiling heights, access to natural light and open interior floor plans — not to mention a truly iconic presence on the city skyline.”
The redevelopment adds some much-needed inventory to the NY market, right in the beating heart of Manhattan, in close proximity to the Theatre District, Times Square, and the bustling retail hub at Hudson Yards.
Meanwhile, floors 2-11 are set to remain office space, but will be similarly updated into a design that emphasizes light and flow. NAI Resolution notes that the new office space will incorporate 7.5-12-foot windows, and a modernized lobby area that connects the lower level, ground, and second floor with a 35-foot atrium designed as an “urban oasis.”
Additional facilities for office tenants will include lounges, a wellness center, and multiple landscaped outdoor terraces.
Along with these changes, the building name is set for a ‘soft refresh’ to 330W42ndSt, replacing the McGraw-Hill branding, but not the iconic art-deco style that’s characterized the façade since its inception.
Ready in 2024
NAI Resolution’s development plans build on a USD120 million upgrade undertaken in 2021 when a new HVAC system and other modernizations were installed.
The current updates are slated to deliver in Q2 of 2024, with office leasing discussions kicking off in spring next year.
Interested in learning more about office space at the new 330W42ndSt building? Keep track of the latest developments here.