Under Construction: 10 Game‑Changing NYC Developments to Watch in 2025

270 Park Ave: Rendering by Foster + Partners

By Colin O'Leary

New York City’s skyline is an ever‑evolving masterpiece—constantly reshaped by daring architecture, ambitious development, and the city’s unrelenting drive to reinvent itself. Right now, that transformation is happening in real time, with cranes rising across Manhattan and Queens as a new generation of residential towers, mixed‑use icons, and creative conversions takes shape. From supertalls redefining the Midtown silhouette to adaptive reuse projects breathing fresh life into the Financial District, these under‑construction developments tell the story of a city always building toward the future.

Here’s a closer look at ten of the biggest residential and commercial projects actively under construction across NYC in mid‑2025—projects that promise to change not just the skyline, but how New Yorker's live, work, and experience the city.

1. The Torch (740 Eighth Avenue) – Midtown Manhattan
Work is back in full swing on The Torch, a striking 52‑story, 1,067‑foot supertall hotel tower developed by Extell and designed by ODA. After pausing in late 2024, construction resumed in spring 2025, with cranes now active and steelwork rising steadily. The building’s defining feature is its dramatic spiraling glass “torch,” inspired by the Statue of Liberty, which will crown the structure and light up the skyline. Inside, the project will bring an observation deck, a thrilling drop‑tower ride, a sky lounge, pool deck, and over 800 hotel rooms. Completion is expected in 2027, and The Torch is set to become one of Midtown’s most iconic new landmarks.

2. 125 Greenwich Street – Financial District
This slender 912‑foot, 72‑story condominium tower, designed by the late Rafael Viñoly, has now topped out and is advancing through interior fit‑out and façade installation. Construction had slowed in recent years, but activity ramped up in early 2025 with crews focusing on luxury finishes and amenity spaces. The building is designed to deliver sweeping views of Lower Manhattan, the Hudson River, and New York Harbor, and its crown will house a wellness center with a pool, gym, and spa. With over 270 high‑end residences, 125 Greenwich Street is targeting a market launch and first closings by late 2025 or early 2026, reinforcing the Financial District’s evolution into a live‑work‑play neighborhood.

3. The Orchard – Long Island City, Queens
In Queens, The Orchard is rising quickly as it nears its final height of 823 feet across 69 stories. Developed by BLDG Management and designed by Perkins Eastman, this tower will become the tallest purely residential building in Queens once completed. The Orchard will include 824 rental apartments, with approximately 200 designated as affordable units, as well as retail at the base and over 50,000 square feet of resident amenities. Glass installation is well underway, and interior build‑out is progressing to meet the targeted delivery in late 2025. The project is central to Long Island City’s ongoing transformation into a dense, skyline‑defining residential hub.

4. 520 Fifth Avenue – Midtown Manhattan
This elegant 76‑story supertall tower, developed by Rabina and designed by Kohn Pedersen Fox, topped out at over 1,000 feet in late 2024 and has since moved into façade work and interior construction. Combining luxury condominiums, state‑of‑the‑art office space, and street‑level retail, the project’s design includes signature spiral terraces and a limestone and glass exterior that reinterprets Fifth Avenue’s classic architecture for the modern era. With leasing interest reported to be strong, the tower is on track to open in late 2025, adding a sophisticated mixed‑use anchor to one of Manhattan’s busiest corridors.

5. 50 West 66th Street – Upper West Side
This 52‑story, 775‑foot condominium tower by Extell and Snøhetta is now structurally complete, with façade installation and interior fit‑out advancing toward a 2025 opening. Its bronze‑framed glass and limestone façade blends the elegance of historic Upper West Side architecture with a contemporary profile. Planned amenities include indoor and outdoor swimming pools, communal terraces, and resident lounges. Once finished, it will be the tallest building north of 59th Street, offering residents sweeping views of Central Park and the Hudson River, while carefully respecting the surrounding neighborhood’s architectural heritage.

6. 270 Park Avenue – Midtown Manhattan
JPMorgan Chase’s new global headquarters is rising fast above Midtown as crews complete steelwork, glazing, and interior construction on what will be a 70‑story, roughly 1,388‑foot tower designed by Foster + Partners. This project will provide about 2.5 million square feet of next‑generation office space, advanced ventilation systems, outdoor terraces, and a public plaza and retail at street level. Construction remains on schedule for completion in 2025, and when finished, it will become one of the tallest office buildings in New York City, redefining the Park Avenue skyline.

7. 2 World Trade Center – Financial District
After years of delays, construction on 2 World Trade Center resumed in mid‑2025, and the steel superstructure is now rising steadily above street level. Designed by Bjarke Ingels Group, this tower will eventually climb to around 1,300 feet and contain roughly 2.8 million square feet of office space tailored for creative, media, and technology tenants. The design’s signature stacked‑box form will add sky gardens and terraces, blending workspaces with green public spaces. Targeted opening is currently projected for 2026, and completion of this tower will mark a major milestone in finishing the World Trade Center campus.

8. 989 Sixth Avenue – Herald Square / Garment District
This 68‑story, 785‑foot mixed‑use tower is rising quickly, with its steel frame about halfway complete by mid‑2025. Once finished, it will bring roughly 300 new condominium residences to the area, along with around 86,000 square feet of commercial space. The project’s modern design aims to complement the historic Garment District streetscape while adding new residential options to the bustling Herald Square corridor. Construction is scheduled to continue into 2026, contributing to the steady transformation of Midtown’s west side.

9. 55 Broad Street – Financial District
An important example of office‑to‑residential conversion, the transformation of this former 36‑story office building into 571 rental apartments is moving forward with interior demolition complete and residential fit‑out underway. Led by Metro Loft and Silverstein Properties, the project also includes plans for a rooftop pool, co‑working areas, fitness center, and other amenities tailored to today’s urban renters. Scheduled for completion in late 2025, 55 Broad Street illustrates Lower Manhattan’s shift from a strictly commercial district to a vibrant mixed‑use neighborhood.

10. 80 Pine Street – Financial District
Another large‑scale office‑to‑residential conversion, 80 Pine Street is being redeveloped by Bushburg Properties into approximately 500 residential units, along with ground‑floor retail and retained office space. Construction crews are actively transforming interiors and retrofitting systems to meet residential codes, aiming to deliver modern apartments eligible for long‑term tax incentives under New York’s latest housing legislation. Expected completion is in late 2025 or early 2026, adding critical housing stock and reenergizing this corner of the Financial District.


Together, these ten projects capture the spirit of New York City’s real estate today: an ever‑evolving blend of visionary design, new housing supply, workplace reinvention, and neighborhood transformation. If you'd like to learn more about any of these developments—or explore what they might mean for buyers, renters, investors, or local communities—reach out to The Big City Team. We're here to help you navigate NYC’s next chapter.