Artist's rendition of Hiwin Group's proposed mixed-use tower.
Hiwin Group, a leading real estate firm, has announced its plans for a 30-story mixed-use tower in Midtown Manhattan, featuring 125 residential units and commercial spaces. The project will revitalize the area, providing modern living and retail opportunities. With a substantial footprint of 108,000 square feet, the development signals a commitment to enhancing the urban landscape, including recreational amenities for residents. As permits are filed, the expected transformation of the Midtown skyline is underway.
New York City – Hiwin Group, a prominent real estate firm based in Flushing, has unveiled plans for a substantial 30-story mixed-use tower located at 16 W. 45th Street in Midtown Manhattan. This ambitious project will introduce approximately 125 residential units and several commercial spaces to the area, marking a significant development for the city.
The proposed tower will feature a total square footage of around 108,000 square feet, with 101,777 square feet dedicated specifically to residential living. The ground floor is planned to accommodate 6,634 square feet of commercial retail space, aiming to enhance the vibrancy of the neighborhood. Additionally, the design includes both indoor and outdoor recreational areas located on the second floor, providing amenities for future residents.
Details regarding the distribution of the residential units indicate that between four and six units will be situated on each of the upper floors. However, it remains unconfirmed whether these units will be available for rent or as condominiums for sale.
Hiwin Group submitted the necessary permits for this development to the Department of Buildings this week, signaling an advance in the project’s timeline. The firm, led by Chairman Xiaogang Wang and co-CEOs Fanggang Wang and Anthony Hu, purchased the 9,239-square-foot lot for $38.5 million in March from prior owners Belvedere Management and Buchbinder & Warren.
In addition to the new tower, Hiwin Group is seeking to demolish two nearby properties located at 236 and 240 W. 54th Street. These sites previously housed a Mexican restaurant and a sports bar and have been acquired for $31.5 million last year with plans to replace them with residential projects, further contributing to the area’s development.
Hiwin Group is no stranger to the Manhattan real estate landscape, as they are currently engaged in constructing two luxury condo projects located at 250 W. 30th St. and 245 W. 34th St., both expected to reach completion by 2028. This ongoing activity emphasizes the firm’s commitment to expanding its presence within the bustling core of New York City.
The vacant lot at 16 W. 45th Street opened up its possibilities following the demolition of a previous office building, making way for this new vision of a mixed-use tower that aligns with contemporary urban trends. As the permits are in process and plans unfold, the project is positioned to significantly impact the Midtown Manhattan skyline and local community.
The development of this site, along with the adjacent proposed projects, highlights the continuing transformation and revitalization of Midtown Manhattan. With increased demand for both residential and commercial spaces in the area, Hiwin Group’s plans are expected to contribute to the growth and dynamism of this iconic part of New York City.
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