The most important proposed undertaking of 2025 was not an condo constructing or workplace tower. It was a on line casino.
Steve Cohen’s plan for a 3.8 million-square-foot gaming facility close to Citi Discipline was the most important new growth for which allows had been filed with town’s Division of Buildings this 12 months.
Two metropolis jails, a hospital and a warehouse had been additionally among the many 10 largest initiatives proposed in 2025, an evaluation of allow purposes by The Actual Deal exhibits.
4 of the highest developments had been residential, although one was a dormitory for school college students. After the approval of the property tax break 485x, builders have more and more favored condo initiatives with 99 or fewer items, to keep away from development wage necessities that kick in at 100 items, and steeper charges at 150 items. That will clarify why extra residential initiatives didn’t high TRD’s checklist.
Just one workplace constructing made the reduce: Vornado Realty Belief and Rudin Administration’s extremely anticipated 350 Park Avenue. The undertaking is a testomony to the continued demand for sophistication A, trophy workplace towers — and the significance of lining up an anchor tenant to get such a undertaking off the bottom.
Listed below are the most important initiatives filed with DOB:
121-09 Roosevelt Avenue, Queens
The competitors for as much as three state on line casino licenses in New York got here to an finish this month, with state officers selecting three winners: Steve Cohen’s Metropolitan Park, a facility deliberate close to Citi Discipline; the advanced at Bally’s Golf Hyperlinks at Ferry Level; and Resorts World’s enlargement of the Queens Aqueduct.
Solely Cohen’s $8 billion plan made the checklist of the most important undertaking filings of 2025 (the opposite groups haven’t filed purposes as of the tip of November). The event, which can rise on 50 acres of parking heaps subsequent to Citi Discipline, is predicted to incorporate a 1,000-room Arduous Rock resort and a 5,650-person dwell music venue.
350 Park Avenue, Manhattan
Three years in the past, Vornado and Rudin introduced that that they had reached a take care of Ken Griffin’s Citadel that may enable the builders to construct an enormous workplace tower in Midtown East.
Since then, the builders have rezoned the location and purchased a whole bunch of 1000’s of sq. ft of air rights from St. Patrick’s Cathedral and St. Bartholomew’s Church. In November of this 12 months, they filed a allow utility for a greater than 2 million-square-foot constructing that may rise 62 tales.
Griffin agreed in late 2022 to grasp lease the location, with Citadel and Citadel Securities set to occupy 850,000 sq. ft of the brand new tower. As a part of the deal, Griffin has till June 2030 to both purchase a majority stake within the three way partnership creating the property (with Vornado and Rudin respectively taking a 36 and 4 % curiosity) or to purchase the location outright for $1.4 billion.
357 Southern Boulevard/ 745 East 141st Avenue, Bronx
In October, town’s Division of Design and Building filed plans for a brand new jail on the website of the previous Lincoln Hospital and NYPD compound.
The power is predicted to span 1.1 million gross sq. ft, together with 1,040 beds, 120 parking areas and 40,000 sq. ft of economic house.
Final 12 months, town awarded a $2.9 billion design-build contract to an entity led by the Candy Group to construct the ability.
45 West Avenue and 15 Oak Avenue, Brooklyn
TF Cornerstone plans to construct 1,060 residential items throughout two buildings on this Greenpoint waterfront website. The bigger of the 2, at 45 West Avenue, is predicted to span 808,000 sq. ft and embrace 792 items.
The opposite is predicted to have 268 items throughout 249,000 sq. ft.
125 White Avenue, Manhattan
The town’s DDC filed plans for the Manhattan jail in October. DOB filings point out that the ability, which shall be constructed on the location of a present detention middle, will span greater than 1 million sq. ft. It’s anticipated to have 1,040 beds, 125 parking spots and 20,000 sq. ft of economic house.
The town awarded a $3.8 billion contract to a three way partnership led by Tutor Perini to construct the ability.
61-06 Junction Boulevard, Queens
United Building and Improvement Group filed plans in August for a two-tower residential undertaking in Corona.
Updates filings name for 706 items throughout the 2 buildings, which can respectively rise 23 and 29 tales. Collectively, the initiatives are anticipated to span greater than 960,000 sq. ft.
431 East 66th Avenue, Manhattan
A allow utility filed for the Kenneth C. Griffin Pavilion at Memorial Sloan Kettering Most cancers in November describes a 730,000-square-foot constructing on York Avenue between East 66th and East 67th streets. The hospital’s new most cancers middle will rise greater than 480 ft and have 28 working rooms and greater than 200 affected person beds.
The most cancers middle will finally be linked with the present hospital by a two-story skybridge.
376 Schermerhorn Avenue, Brooklyn
Alloy Improvement says its planned 730-foot tower on Schermerhorn Avenue, often known as One Third Avenue, would be the world’s tallest passive home. The constructing is predicted to span practically 640,000 sq. ft and 583 residential items, of which 143 shall be reasonably priced.
The builders are not planning to use for the property tax break 485x, however will as an alternative make funds in lieu of taxes, or PILOTs.
The tower is an element of a bigger growth, dubbed the Alloy Block, which can finally embrace greater than 1,000 houses, with 200 put aside as completely reasonably priced.
2768 Webster Avenue, Bronx
Developer Mark Stagg filed plans for a 545,000-square-foot dormitory for Fordham College college students in November. The constructing is predicted to incorporate 510 dorms and is a part of a broader growth that may even characteristic 485 items of reasonably priced housing.
The Stagg Group and Maddd Equities bought two heaps at 2740 and 2768 Webster Avenue for $40 million in April.
12-18 thirty eighth Avenue, Lengthy Island Metropolis
San Francisco-based actual property funding belief Prologis filed plans for a 500,000-square-foot warehouse in Lengthy Island Metropolis in April.
The proposal got here because the Adams administration started advancing a zoning textual content modification that may require builders of last-mile amenities 50,000 sq. ft or bigger to first safe a particular allow. On the time, Prologis stated the timing was a coincidence.
The Adams administration didn’t start the evaluation course of for the textual content modification, which means it will likely be as much as the following administration to choose up on the trouble.
Learn extra
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