News Summary
Developer Aetna Realty has submitted plans for a new eight-story residential building at 404 West 50th Street in Hell’s Kitchen. Encompassing around 20,000 square feet, the project is set to include 18 residential units. Currently, the site is occupied by a four-story mixed-use building, which has not yet been demolished. Aetna Realty acquired the property in 2022 for $10 million. The prime location, close to the subway and amenities, is expected to attract prospective residents, adding to the ongoing transformation in Hell’s Kitchen.
New Residential Building Planned for Hell’s Kitchen
New York City – Developer Benjamin Braka of Aetna Realty has submitted plans for a new residential building at 404 West 50th Street in the Hell’s Kitchen neighborhood. The proposed project will encompass approximately 20,000 square feet of space and stand at eight stories tall, reaching a height of 75 feet. The development aims to include 18 residential units.
Current Site and Demolition Plans
The site is currently occupied by a four-story mixed-use building that was constructed in 1920 and covers roughly 8,400 square feet. As of now, demolition permits for the existing structure have not been filed, and reports indicate that none of the current residential units within the building are presently occupied. One of the unit rentals was listed at $2,750 per month in 2022, although there are now only two residential units in the building.
Aetna Realty’s Acquisition
Aetna Realty acquired the property at 404 West 50th Street in 2022 for $10 million, which also included adjacent properties located at 729 and 731 Ninth Avenue. No building or demolition plans have yet been submitted for these neighboring properties on Ninth Avenue.
Location and Transportation Access
The new residential building site is strategically located between Ninth and Tenth Avenues, approximately one block away from the 50th Street subway station, which serves the C and E trains. This prime location is expected to appeal to prospective residents seeking convenient access to public transportation and nearby amenities.
Aetna Realty’s Background
Aetna Realty has been active in the real estate market since 1896 and is headquartered near Herald Square. The company has an extensive portfolio that covers more than 10 million square feet across 12 states. In addition to the properties at 404 West 50th Street, Aetna Realty owns several other developments in New York City, including locations at 715 Ninth Avenue and 771 Ninth Avenue.
Architectural Details and Timeline
The architectural firm responsible for the new project is Bojidar Kadiev Architect. As of now, an estimated completion date for the new building has not been announced, leaving the timeline for development uncertain.
The plans filed by Aetna Realty indicate a significant development for the Hell’s Kitchen area, which has seen ongoing changes and growth in recent years. With the introduction of the new residential building, the neighborhood may experience further transformation in terms of residential offerings and density.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- New York YIMBY: Permits Filed for 404 West 50th Street in Hell’s Kitchen
- Crain’s New York: Aetna Realty Planning New Hell’s Kitchen Project
- Crain’s New York: 7G Group Purchases 40 Thompson St, Soho
- New York YIMBY: Housing Lottery Launches for 550 Tenth Avenue in Hell’s Kitchen
- Crain’s New York: Manhattan Rents Hit New Record in July 2025
- Wikipedia: Hell’s Kitchen, Manhattan
- Google Search: Real Estate Growth in New York City
- Google Scholar: New York City Residential Housing Market
- Encyclopedia Britannica: New York City
- Google News: New York Real Estate News
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
