New York City Real Estate Developments and Launches in 2025

The Riverie in Greenpoint, Brooklyn

Greenpoint is set to host New York State's largest all-geothermal-powered apartment complex, The Riverie, at 1 Java Street. Developed by Lendlease, this project comprises two towers housing 834 units, utilizing a closed-loop geoexchange system for heating and cooling. This sustainable approach aims to reduce utility costs and reliance on fossil fuels. The development also includes an 18,000-square-foot park and a waterfront esplanade, enhancing community amenities.

Conversion of 25 Water Street

In the Financial District, the former office building at 25 Water Street is undergoing a significant transformation into a residential complex. This conversion will create approximately 1,300 apartments, making it one of the largest office-to-residential projects in the country. Leasing began in January 2025, with a housing lottery for affordable units opening in March. The development reflects a broader trend of repurposing underutilized office spaces to address housing needs.

50 West 66th Street on the Upper West Side

The Upper West Side's skyline is being redefined by 50 West 66th Street, a 69-story residential tower reaching 775 feet. Designed by Snøhetta Architects and developed by Extell Development Company, this project offers 127 luxury condominiums. The building's design features a limestone base with bronze-framed windows and a glass façade with bronze accents. Amenities include indoor and outdoor pools, sports facilities, and expansive terraces, providing residents with luxury living spaces.

520 Fifth Avenue in Midtown Manhattan

Construction is underway for 520 Fifth Avenue, a mixed-use supertall building designed by Kohn Pedersen Fox. Upon completion, the 1,001-foot tower will feature 76 stories, combining residential units, office spaces, and retail areas. The design draws inspiration from nearby architectural landmarks, incorporating arched windows and asymmetrical setbacks that create terraces in a spiraling pattern. The project is expected to be completed in 2025, adding a significant architectural presence to Midtown Manhattan.

350 Park Avenue

Plans are progressing for 350 Park Avenue, a proposed 62-story office tower designed by Foster + Partners. Developed by Vornado Realty Trust and Rudin Management, with Citadel LLC as the anchor tenant, the building is set to rise approximately 1,585 feet, offering 1.8 million square feet of commercial office space. The design features a series of glass flutes with curved windows and column-free corners, maximizing natural light and views. The project includes a 12,500-square-foot public concourse along Park Avenue, contributing to the public realm. The development is currently undergoing the city's public review process, with an estimated completion date of 2032.

Bushwick's Cultural Renaissance

Bushwick, Brooklyn, continues to experience a cultural renaissance amidst gentrification and rising rents. The neighborhood maintains a unique blend of cultures, evident in its vibrant street life and strong community ties. Venues like Bossa Nova Civic Club foster inclusive spaces for music and dance, reflecting Bushwick's DIY roots. Despite underlying tensions over the neighborhood's evolving identity, Bushwick remains one of the most exciting neighborhoods in the U.S., attracting a diverse population and fostering a thriving nightlife scene.

Williamsburg Wharf Development

In Williamsburg, Brooklyn, the Williamsburg Wharf residential complex on the East River waterfront has secured its first significant retail tenant. Renowned chef Eyal Shani's Good People Group will open a new 4,000-square-foot restaurant on Kent Avenue later this year. This addition reflects the neighborhood's growing appeal and the development's commitment to offering diverse culinary experiences to residents and visitors.

New York City's real estate market in 2025 showcases a blend of innovation, sustainability, and cultural preservation. From eco-friendly residential towers to transformative commercial projects, these developments reflect the city's resilience and adaptability. As New York continues to evolve, these projects play a crucial role in shaping its future urban landscape, balancing modern demands with the city's rich historical context.