Midtown East New Developments: What's Coming in 2026 and Beyond
Midtown East is in the middle of one of its biggest transformations in decades. Nearly 2,000 new rental apartments are under construction across five projects, mostly conversions of existing buildings, and two new office supertalls are planned on Park Avenue, according to New York YIMBY. Here's every major project, when it's expected to open, and what it means if you're buying, selling or renting in the neighborhood.
What new apartment buildings are coming to Midtown East?
Five rental projects with about 1,950 homes, led by the conversion of 750 Third Avenue. Four of the five are conversions of existing buildings, part of a citywide wave of office-to-residential conversions, according to New York YIMBY.
750 Third Avenue
SL Green Realty · Gensler
- Type: Office-to-residential
- Floors: 34
- Homes: 639 rentals
The biggest conversion in the neighborhood, an $805 million project turning a 34-story office tower on Third Avenue between East 46th and 47th Streets into 639 apartments with ground-floor retail and amenities.
1005 First Avenue
Vanbarton Group · CetraRuddy
- Type: Conversion and expansion
- Floors: 20 plus 6 new
- Homes: 420 rentals
- Completion: Summer 2027
A 20-story building between East 55th and 56th Streets near Sutton Place, gaining six new floors on top as it becomes 420 apartments.
845 Third Avenue
Rudin Management · CetraRuddy
- Type: Residential conversion
- Floors: 21
- Homes: 411 rentals
Between East 51st and 52nd Streets, with 9,100 square feet of ground-floor retail and amenities including a fitness center, spa, plunge pool, media room and coworking space.
Tower 57, 135 East 57th Street
TF Cornerstone
- Type: Office-to-residential
- Floors: 32
- Homes: 350 rentals
- Completion: April 2028
At the corner of East 57th Street and Lexington Avenue. A quarter of the apartments will be affordable at 80% of area median income.
Lucien, 303 East 44th Street
Bruklyn Builders · ODA Architects
- Type: New construction
- Floors: 35
- Homes: 131 rentals
A new tower between First and Second Avenues, near the United Nations, with 8,006 square feet of commercial space.
Thinking about buying near these new buildings? Contact Darrell Williams for a private consultation.
What office projects are planned in Midtown East?
Two supertalls on Park Avenue and a major modernization on Third Avenue. Together with the city's planned redesign of Park Avenue between East 46th and 57th Streets, which adds wider medians, seating, landscaping and a two-way protected bike lane, they'll reshape the neighborhood's skyline and street life.
350 Park Avenue
Vornado, Rudin and Ken Griffin · Foster + Partners
- Type: Office supertall
- Height: About 1,400 ft
- Floors: 66
A planned 1.9 million-square-foot office tower between East 51st and 52nd Streets, with Citadel as the anchor tenant. The developers recently closed on their agreement and construction loan.
175 Park Avenue
Planned supertall next to Grand Central
- Type: Office and hotel supertall
Permits have been filed for a supertall on the former Grand Hyatt site beside Grand Central, one of the largest projects planned in Midtown.
850 Third Avenue
NYC Economic Development Corporation
- Type: Office modernization
- Floors: 21
- Size: 592,000 sq ft
A modernization of a 1961 office building at East 51st Street, adding 13,500 square feet of amenities and 10,000 square feet of ground-floor retail.
What's the full list of Midtown East projects?
Here's every project in one place.
Address | Type | New homes | Status |
|---|---|---|---|
750 Third Avenue | Office-to-residential | 639 | Under construction |
1005 First Avenue | Conversion and expansion | 420 | Completion summer 2027 |
845 Third Avenue | Residential conversion | 411 | Under construction |
135 East 57th Street (Tower 57) | Office-to-residential | 350 | Completion April 2028 |
303 East 44th Street (Lucien) | New construction | 131 | Façade going up |
350 Park Avenue | Office supertall | – | Approved and financed |
175 Park Avenue | Office and hotel supertall | – | Permits filed |
850 Third Avenue | Office modernization | – | Underway |
Sources: New York YIMBY, New York YIMBY and New York YIMBY Midtown East coverage.
What does all this new development mean for buyers and sellers?
For buyers, more choice right now. In October 2026, Midtown East had 20% of Manhattan's homes for sale but only 14% of its signed contracts, according to the Compass Manhattan Market Insights report. That's the biggest gap between supply and demand of any area in the report.
The new buildings are rentals, so if you want to own in Midtown East, resale condos and co-ops are where the opportunity is today. For sellers, the new projects add residents, retail and amenities to the neighborhood, but they also add rental competition, so pricing and presentation matter.
What's near the new Midtown East buildings?
Grand Central is the center of it all, with the 4, 5, 6, 7 and S trains, Metro-North and the LIRR at Grand Central Madison. The E, M and 6 stop at Lexington Avenue and 53rd and 51st Streets, and Turtle Bay, Sutton Place and the East River are a few avenues east.
- Grand Central TerminalEast 42nd St and Park Ave
Grand Central Market, the Oyster Bar and The Campbell cocktail bar - Le PavillonOne Vanderbilt
Daniel Boulud's restaurant overlooking Grand Central - Smith & Wollensky797 Third Ave at 49th St
The classic Midtown East steakhouse - Greenacre Park217 East 51st St
A pocket park with a 25-foot waterfall - Japan Society333 East 47th St
Exhibitions, films and performances - Sutton Place ParkEast 57th St at the East River
A small park overlooking the river - Bloomingdale's1000 Third Ave at 59th St
The flagship department store - United NationsFirst Ave and East 46th St
Public tours of the headquarters
Want to know what your Midtown East home is worth as the neighborhood changes? Contact Darrell Williams for a pricing analysis.
Frequently asked questions
What new buildings are coming to Midtown East?
Nearly 2,000 new rental apartments are underway across five projects: 750 Third Avenue (639 homes), 1005 First Avenue (420), 845 Third Avenue (411), Tower 57 at 135 East 57th Street (350) and Lucien at 303 East 44th Street (131). Two office supertalls are also planned at 350 Park Avenue and 175 Park Avenue.
Why are so many offices in Midtown East becoming apartments?
Older office buildings on Third Avenue and Lexington are being converted as demand shifts to newer towers, and city programs now encourage office-to-residential conversions.
When will the new Midtown East apartments be ready?
1005 First Avenue is expected to finish in summer 2027 and Tower 57 at 135 East 57th Street in April 2028. 750 Third Avenue, 845 Third Avenue and Lucien are under construction, with completion dates not yet announced.
Are the new Midtown East buildings condos or rentals?
The new projects underway are rentals. If you want to buy in Midtown East, resale condos and co-ops are where the inventory is today, and buyers currently have more choice there than in most of Manhattan.
Is Midtown East a buyer's market right now?
It leans that way. In October 2026, Midtown East had 20% of Manhattan's listings but only 14% of its signed contracts, according to Compass, the biggest gap of any area in the report, so buyers have more choice and room to negotiate.
Will new development raise home values in Midtown East?
More residents, new retail and a redesigned Park Avenue can make a neighborhood more attractive over time, but values depend on many factors. Owners thinking about selling should watch how the new rentals lease up and what nearby resales are trading for.
What subway lines serve Midtown East?
The 4, 5, 6, 7 and S at Grand Central–42nd Street, the E, M and 6 at Lexington Avenue–53rd and 51st Streets, and the 4, 5, 6, N, R and W at Lexington Avenue–59th Street. The LIRR also stops at Grand Central Madison.
How do I find a home in Midtown East?
Start with your budget and whether you want a condo, co-op or rental, then compare buildings block by block. Contact Darrell Williams for a private consultation and a list of homes that match.
Looking to buy, sell or rent in Midtown East? Contact Darrell Williams for a private consultation, or view my Compass profile and listings.
