TF Cornerstone

A prominent New York City developer wants to convert a 32-story Billionaires' Row office tower into over 300 apartments, joining the city’s growing wave of office-to-residential conversions. As first reported by Commercial Observer, TF Cornerstone will convert Tower 57 at 135 East 57th Street into 350 apartments, 25 percent of which would be affordable to households earning 80 percent of the area median income. The project would take advantage of the state’s 467-m tax incentive program and new zoning tools included in Mayor Eric Adams’ City of Yes housing plan.
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244 apartments available at luxury Hunter’s Point rental, from $2,490/month

Image courtesy of the NYC Department of Housing Preservation and Development

January 23, 2025

244 apartments available at luxury Hunter’s Point rental, from $2,490/month

A housing lottery launched this week for 244 middle-income apartments at a new luxury waterfront rental in Long Island City. Located at 2-21 Malt Drive in Hunter's Point South, the 38-story building is part of the three-tower Malt Drive development, which will add more than 1,000 new homes to the neighborhood upon completion. New Yorkers earning 130 percent of the area median income can apply for the units, priced from $2,490/month for studios to $3,590/month for two bedrooms.
Find out if you qualify

Affordable Housing

Hunter’s Point waterfront rental opens lottery for 173 apartments, from $2,490/month

Renderings by Binyan unless otherwise noted.

October 29, 2024

Hunter’s Point waterfront rental opens lottery for 173 apartments, from $2,490/month

Applications are now being accepted for 173 middle-income apartments in a new luxury rental development on the Long Island City waterfront. Located at 2-20 Malt Drive in Hunter's Point South, the 34-story building is part of the three-tower Malt Drive development bringing over 1,000 new homes to the area. New Yorkers earning 130 percent of the area median income can apply for the units, priced from $2,490/month for studios to $3,590/month for two-bedrooms.
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Affordable Housing

Two-tower Prospect Heights rental with huge public park launches lottery, from $2,290/month

All images courtesy of TF Cornerstone

May 5, 2023

Two-tower Prospect Heights rental with huge public park launches lottery, from $2,290/month

A housing lottery opened this week for 240 middle-income units at 595 Dean Street, the latest building to open at the Prospect Heights mega-development, Pacific Park. The two-tower, mixed-use project has 798 total rentals, 30 percent of which are designated below market rate, and is anchored by roughly 60,000 square feet of public open space. New Yorkers earning 130 percent of the area median income, or between $78,515 annually for a single person and $187,330 for a household of five, can apply for the apartments, which range from $2,290/month studios to $3,360/month two-bedrooms.
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Affordable Housing

Lottery opens for 534 mixed-income units at Hunter’s Point South development, from $537/month

Rendering of 5203 Center Boulevard & 5241 Center Boulevard courtesy of TF Cornerstone

June 16, 2021

Lottery opens for 534 mixed-income units at Hunter’s Point South development, from $537/month

A housing lottery opened on Wednesday for 534 mixed-income apartments at a massive rental in Long Island City. As part of the latest phase of TF Cornerstone's redevelopment of Hunter's Point South, 5203 Center Boulevard is one of two buildings at the site designed by ODA, with SLCE as the architect of record. Qualifying New Yorkers earning 40, 50, 130, and 165 percent of the area median income can apply for the apartments, which range from $537/month studios to $3,065/month two-bedrooms. About 100 of the units will be set aside for senior New Yorkers aged 62 and older.
How to apply

Affordable Housing

First-ever flower festival will take over the Meatpacking District this weekend

Photo credit: Breakthrough Media for L.E.A.F and Meatpacking District

June 7, 2021

First-ever flower festival will take over the Meatpacking District this weekend

Over a million flowers will blossom across Manhattan this weekend as part of the city's first-ever festival of flowers. Hosted by L.E.A.F in collaboration with the Meatpacking Business Improvement District and TF Cornerstone, the annual festival kicks off on Saturday, June 12, and features a European-style flower market and a series of design installations from 100 different florists that will be displayed across the neighborhood.
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Public art and cultural events planned for elevated terraces at revamped Grand Hyatt

Arts programming on 175 Park Avenue’s Graybar Terrace. Image credit: James Corner Field Operations. The artwork shown for illustrative purposes is “The Roses” by Will Ryman

June 2, 2021

Public art and cultural events planned for elevated terraces at revamped Grand Hyatt

The developers behind the huge tower that will replace the existing Grand Hyatt New York announced last week plans to open up its elevated terraces to the public for events. The Public Art Fund and Lord Cultural Resources will develop a cultural program that will bring art installations, community events, and other programs to 175 Park Avenue, the 83-story mixed-use building proposed by TF Cornerstone and RXR Realty.
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Leasing launches at Long Island City’s latest waterfront rental, from $2,900/month

All images courtesy of TF Cornerstone

April 28, 2021

Leasing launches at Long Island City’s latest waterfront rental, from $2,900/month

One of the latest residential towers to rise on the Long Island City waterfront has officially kicked off leasing for its 200 market-rate apartments. Developed by TF Cornerstone as part of the redevelopment of Hunter's Point South, 5241 Center Boulevard is one half of a two-building project designed by ODA, with SLCE as the architect of record. One- and two-bedroom apartments start at roughly $2,900/month and $3,525/month, respectively, with concessions included, according to current availability.
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Mixed-use proposal for Long Island City would have a residential village, a waterfront pool, and oyster beds

All renderings by CAZA

December 18, 2020

Mixed-use proposal for Long Island City would have a residential village, a waterfront pool, and oyster beds

By Dana Schulz

First spotted by CityRealty, this mixed-use proposal for the Long Island City waterfront is part futuristic, part industrial, and part sustainable. The architects at Brooklyn-based studio CAZA conceptualized a plan for a swath of land just north of the site that was almost home to Amazon. Called Long Island City Oyster, their development would include an office tower, residential tower, and low-scale residential village. More distinctly, it would also include year-round indoor and amenities such as a waterfront ice skating rink that converts into a pool, a restored oyster-bed wetland, a sandy beach, and a ferry landing.
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Architecture And Design

Lottery launches for 185 affordable apartments at Long Island City’s Hunter’s Point South

By Dana Schulz

A year-and-a-half ago, developer TF Cornerstone broke ground on their two-building, 1,194-unit project at Hunter's Point South, located along the East River in Long Island City. Anchored by a new half-acre public park, the pair of ODA-designed towers will be 60 percent affordable. Today, a lottery launched for 185 of these low- and middle-income units, available to those earning 50, 130, and 165 percent of the area median income. The available homes range from $698/month studios to $2,704/month two-bedrooms.
See if you qualify

Affordable Housing

New renderings show 72,600-square-foot public park coming to Brooklyn’s Pacific Park development

Renderings of park courtesy of MNLA

November 19, 2019

New renderings show 72,600-square-foot public park coming to Brooklyn’s Pacific Park development

By Alexandra Alexa

Developer TF Cornerstone this week released new renderings for two sites within Brooklyn's long-delayed Pacific Park development that have yet to break ground: 615 and 595 Dean Street. Their plans will bring 72,600 square feet of public open space with community amenities, 800 units of mixed-income housing, and retail to Pacific Park. In addition, Chelsea Piers is set to open a Field House that will offer a wide range of family and youth-focused programming when the site opens in 2023.
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New Developments

Development plans for ex-Amazon site in LIC move forward with emphasis on local community goals

Previous rendering of Anable Basin, courtesy of WXY architecture + urban design

September 19, 2019

Development plans for ex-Amazon site in LIC move forward with emphasis on local community goals

By Alexandra Alexa

Soon after Amazon canceled plans to build a new headquarters in Long Island City, the city began reviving earlier plans to bring a mix of residential and industrial spaces to the neighborhood. Developers and city officials are still in talks over how the 28-acre site—which includes land owned by both the city and plastics company Plaxall—will be used. As Politico recently reported, the vision is starting to come into sharper focus with property owners now engaging the neighborhood and community board to help determine the future of the waterfront site.
Here's what we know so far

Uncategorized

Pacific Park construction accelerates with groundbreaking at tallest tower

Rendering courtesy of Greenland Forest City Partners

April 23, 2019

Pacific Park construction accelerates with groundbreaking at tallest tower

By Alexandra Alexa

Long in the works, construction at the Pacific Park complex in Brooklyn is set to ramp up after Greenland Forest City Partners announced a partnership with the Brodsky Organization to develop 18 Sixth Avenue. Designed by Perkins Eastman, the building will exceed 500 feet and become the tallest in Pacific Park. As 6sqft previously reported, Brodsky was also tapped for another apartment building in the complex at 664 Pacific Street, which will also include public space and a school. Groundbreaking at both sites is set to take place within the next two weeks.
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1,200-unit Hunters Point development breaks ground and reveals new looks

New rendering by ODA Architects for TF Cornerstone

April 5, 2019

1,200-unit Hunters Point development breaks ground and reveals new looks

Developer TF Cornerstone officially broke ground Friday on its mixed-use, affordable housing development in Long Island City, a plan that began nearly six years prior. The project, which consists of 1,194 new apartments across two buildings on Center Boulevard, falls under the city's redevelopment of Hunter's Point South, a proposal with the goal of bringing 5,000 units of new housing to the area first backed by former Mayor Michael Bloomberg. In addition to the residences, the project includes construction of a community center, local retail, a new public park designed by Mathews Nielsen Landscape Architects, and a K-8 school. A pair of new renderings highlights the open space planned between the new towers.
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Grand Hyatt, Trump’s first major Manhattan real estate coup, to be torn down for new office tower

Image: Jennifer Rotner via Flickr.

February 8, 2019

Grand Hyatt, Trump’s first major Manhattan real estate coup, to be torn down for new office tower

Developer TF Cornerstone and investment firm MSD Partners have announced plans to purchase and tear down the Grand Hyatt building adjacent to Grand Central Terminal, the Wall Street Journal reports. The hotel brand will eventually return to the site in a form different from the smoked glass-clad building that was Donald Trump’s first major Manhattan development. In its place will rise a mixed-use project that includes 2 million square feet of high-octane office space. The planned development is one of four new towers in the works as a result of a 2017 Midtown East rezoning aimed at encouraging new office buildings as well as infrastructure improvements in the east side business district.
The times they are a-changin' in East Midtown

New Developments

Amazon looking at proposed Anable Basin mixed-use site for new home in Long Island City

Rendering courtesy of WXY architecture + urban design

November 7, 2018

Amazon looking at proposed Anable Basin mixed-use site for new home in Long Island City

With Amazon nearing a deal to make Long Island City home to its second headquarters, a big question remains: Where in the Queens neighborhood will the tech-giant house its 25,000 employees? One possible location sits within a waterfront area known as Anable Basin, named for a 150-year-old inlet, sources familiar with the plan told Politico New York. As 6sqft reported last November, the family-owned plastics company Plaxall, who owns the site, proposed a massive rezoning of the area that would allow for 335,000 square feet for industrial spaces, nearly 5,000 housing units, and a new public school.
More here

New details for Brooklyn’s Pacific Park and a first look at its tallest tower

A new rendering of B4, the development’s tallest tower planned

September 26, 2018

New details for Brooklyn’s Pacific Park and a first look at its tallest tower

The development of Pacific Park, a 22-acre mixed-use complex near the Barclays Center, has entered its next phase Greenland Forest City Partners announced Wednesday. The developer is bringing on TF Cornerstone and the Brodsky Organization as development partners for the project. The duo will develop three parcels at the site, which include three rental buildings, a new public school, and new open space. Greenland also announced construction is set to begin in the spring for the park's tallest tower, a more than 500-foot tall tower designed by Perkins Eastman.
More details here

Public waterfront space to be part of massive Long Island City Innovation Center project

Image: TF Cornerstone

September 12, 2018

Public waterfront space to be part of massive Long Island City Innovation Center project

Developer TF Cornerstone has released new details about public open space slated to be part of the proposed project spanning over 1.5 million square feet at 44th Drive on city-owned land along the Long Island City waterfront, LICpost reports. Known as the Long Island City Innovation Center, the proposed massive city-led development, which will need zoning changes in order to move forward, includes office, retail, and manufacturing space and two high-rise residential towers with over 1,000 units, 25 percent of which would be affordable. The latest news concerns the acre of publicly accessible open space that is also part of the controversial development. According to TF Cornerstone, this open space will become a waterfront park with a focus on resiliency and sustainability.
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March 9, 2018

Waiting list opens for 840 more affordable units in Hudson Yards rental complex

Adding to yesterday's announcement of the waitlist launch for affordable apartments at TF Cornerstone's 455 West 37th Street, a waiting list is now open for 840 more units in the Hudson Yards/Midtown West development just across the avenue at 505 West 37th Street. Similarly, the affordable units are available for households earning 40 percent of the area median income or between $22,903 and $38,160, and range from $613/month studios to $801/month two-bedrooms. Residents can enjoy amenities like a 24-hour attended lobby, an on-site resident manager, a sun terrace, a fitness center, party rooms and a laundry room (additional fees may apply in some cases).
Find out whether you qualify

Affordable Housing

March 8, 2018

Waitlist opens for affordable units at Hudson Yards district rental, from $613/month

The lottery is now open for a waitlist for affordable rental apartments at TF Cornerstone's 455 West 37th Street in the Hudson Yards district in West Midtown. The units are available for households earning 40 percent of the area median income or between $22,903 and $38,160, and range from $613/month studios to $801/month two-bedrooms. Amenities at the 23-story building include a 24-hour attended lobby, an on-site resident manager, a sun terrace, a fitness center, party rooms and a laundry room (additional fees may apply in some cases).
Find out whether you qualify

Affordable Housing

February 6, 2018

Lottery launches for 258 rentals at TF Cornerstone’s West 57th tower, from $613/month

The lottery for TF Cornerstone's massive building at 606 West 57th Street officially launched on Tuesday, offering 258 mixed-income rentals in the brand new 42-story tower. Designed by Arquitectonica, the rental, dubbed 606W57, boasts a unique, boxy design and will hold over 1,000 apartments. It sits near other West Side architectural standouts like the pyramid-shaped, Bjarke Ingels-designed Via57 West, as well as the Helena. Qualifying New Yorkers earning 40, 60 and 120 percent of the area median income can apply for units ranging from a $613/month studio to a $2,902/month three-bedroom.
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Second phase of Hunters Point South development moves forward with 960 affordable unit proposal

Rendering of Hunters Point South courtesy of Handel Architects

November 17, 2017

Second phase of Hunters Point South development moves forward with 960 affordable unit proposal

Plans to redevelop Hunters Point South, a project first proposed by former Mayor Michael Bloomberg, is finally making some headway. The city’s Department of Housing Preservation and Development and the Housing Development Corp. on Thursday selected a proposal that will bring a 1,120-unit apartment complex, with 80 percent of them permanently affordable, to the southern tip of the Long Island City neighborhood. According to the Wall Street Journal, the $500 million, two-tower project is being developed by Gotham and RiseBoro Community Partnership Inc.
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Fully skinned, TF Cornerstone’s mammoth Midtown tower on West 57th tops out

Construction progress as of mid-October, via CityRealty

November 3, 2017

Fully skinned, TF Cornerstone’s mammoth Midtown tower on West 57th tops out

In May 2012, TF Cornerstone (TFC) entered a 99-year ground lease for the building's site that spans nearly a full city block and measures 63,000 square feet. Now topped out and fully skinned, the massive rental at 606 West 57th Street has a less flashy appearance than renderings previously hinted, but still features an impressively imposing, boxy design, as CityRealty reported. Designed by Arquitectonica, the 42-story, 1.2 million-square-foot building will contain a whopping 1,028 apartments. It joins other West Side gems like the Helena and the pyramid-shaped, Bjarke Ingels-designed Via57 West.
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After four years, TF Cornerstone files plans for 1,200-unit building at Hunters Point South

Updated rendering of parcel c for Hunters Point South, courtesy of ODA Architecture

October 20, 2017

After four years, TF Cornerstone files plans for 1,200-unit building at Hunters Point South