The partial residential conversion of the McGraw-Hill Building was fast tracked

Steve Cuozzo

a job

by Steve Cuozzo

March 12, 2023 | 1:47 p.m

The partial residential conversion of the historic McGraw Hill building at 330 W. 42nd Street has jumped onto the fast lane.

“Since I first reported to my colleague Louis Weiss that Resolution Real Estate was exploring the option in October 2022,” Gerard Nocera, managing partner at Resolution, said, “we’ve crossed all hurdles.”

The conversion of floors 12 through 34, which Nocera has estimated will cost $100 million, will begin this summer.

224 apartments are expected to be completed in the second quarter of 2024.

The remodeling of the Art Deco masterpiece includes the creation of a foyer and a second entrance and the reinstallation of the McGraw-Hill name above the residential entrance. Resolution works with SLCE Architects on apartment designs.

No one who read my January 16 column could be surprised that Gov. Kathy Hochul dropped a proposal for the state to fund Penn Station improvements with money raised from office towers that will mostly be built by Vornado.

You will now “change gears” and pursue a “Plan B” to pay for a new station.

But I noted in January that she did not mention her pet plan for a redeveloped Pennsylvania area in her state of the state address even though it was a priority for her administration and predecessor Andrew Cuomo.