The Frick Collection Returns After $330M Upgrade
The Frick Collection will reopen this Thursday, April 17, following a $330 million multi-year renovation — the institution’s most extensive upgrade since it opened in 1935. Located at 1 East 70th Street, the renovation added 27,000 square feet to the original 60,000-square-foot building, bringing the total complex to 196,000 square feet.
Key additions include restored first-floor galleries, 10 new gallery rooms on the second floor, the Frick’s first education rooms, and a 218-seat auditorium named for Stephen A. Schwarzman. A new café and marble staircase enhance visitor flow and accessibility. The 70th Street Garden has also been restored and is now visible from multiple interior vantage points. The Frick Art Research Library reopens with refurbished reading rooms. Upon reopening, visitors can view Vladimir Kanevsky’s “Porcelain Garden,” on display through October 6.
Hudson Yards West Development Clears Major Hurdle
The $13 billion Hudson Yards West proposal from Related, Oxford Properties, and Wynn Resorts received approval from the NYC Planning Commission. Now in the final ULURP stage, the project aims to bring a resort, casino, 1,500 housing units (including 324 affordable), a 5.6-acre public park, and a new K-8 school to Manhattan’s West Side Rail Yard.
The development is projected to generate $2.7 billion in MTA revenue and contribute $197 million in community reinvestment. Related CEO Jeff Blau called it “a critical milestone” that brings the project closer to delivering “thousands of union jobs” and “nearly $200 million of community benefits.”
Environmental Review Delays Jeopardize Manhattan Casino Bids
Three Manhattan casino projects — SL Green’s Times Square, Silverstein’s near Hudson Yards, and Soloviev Group’s by the UN — risk disqualification due to the Gaming Commission’s delayed environmental review process. Unlike projects with local zoning approvals, these three rely solely on SEQRA.
A September 30 deadline looms for resolving land-use issues. The Gaming Commission insists it has a review timeline, but bidders remain skeptical. Applications are due June 27.
Quotes from stakeholders reflect tension. One project attorney called it “a complete failure by the Gaming Commission to do anything.” SL Green maintains confidence: “We’re confident the state can meet the deadline. Any further delay would be unwarranted.”
Cuomo’s Housing Plan Falls Flat With Critics
Andrew Cuomo’s proposed housing plan, which calls for “building or preserving” 500,000 units, has been criticized for its lack of ambition. The plan avoids zoning changes in low-density neighborhoods, excludes measures to reduce labor or construction costs, and offers only modest funding.
Critics compare it unfavorably to competing proposals like Zellnor Myrie’s plan to build 700,000 units and preserve another 300,000. The Cuomo blueprint includes provisions for faith-based development and city-state matched funding ($2.5B each over five years) but lacks bold new ideas to increase supply.
Office Leasing Momentum in Midtown
Amalgamated Bank signed a 15-year, 94,045-square-foot lease at 99 Park Avenue, relocating from Chelsea. The building is now 98% leased following a $30 million upgrade including a new façade and amenities like a golf simulator. The lease begins in spring 2026.
Apollo Global Management will consolidate operations with a 100,000-square-foot lease at 590 Madison Avenue, occupying floors 10 through 13. The move brings staff closer to Apollo’s HQ at 9 West 57th Street. The building, owned by STRS Ohio, was recently listed for $1.1B.
Ferrari signed a 10-year lease at 425 Park Avenue for a 7,629-square-foot showroom, moving from 410 Park. The deal caps L&L Holding’s full lease-up of the 47-story Norman Foster-designed tower.