February 23, 2024
Thesis Driven

MaryAnne Gilmartin on the Future of NYC, Placemaking, and Her Latest Big Project – Episode Three of the Thesis Driven Leader Series

Visit the website for the video interview – https://www.thesisdriven.com/p/maryanne-gilmartin

In this episode, I speak with one of the preeminent real estate developers of our generation, MaryAnne Gilmartin. She’s known for building Brooklyn’s Barclays Center, Atlantic Yards, and the New York Times building, to name a few. And she’s now expanding beyond New York City to develop the Baltimore Peninsula—a 177 acre project which includes 14 million square feet of new development and 40 acres of publicly accessible open space. You can listen here on Substack or:

In this interview, you’ll hear the exciting details of her emerging new development in Baltimore as well as why this project is an excellent model for urban spaces—from the details of the master plan to the urban geography to the role of placemaking to the motivations of each stakeholder. 

MaryAnne and Brad also discuss the current development environment in New York City. MaryAnne shares her thoughts about the policies and politics that have added headwinds to new housing construction and what the city and state need to do to dig out of the housing crisis. She also shares why she’s optimistic about the city and many New York politicians and why, ultimately, she’d still bet on NYC over any other city in the world.

This interview will be inspiring to any lovers of great real estate projects and development. MaryAnne has a wealth of insights on what it takes to thrive (and survive) as a developer and what key elements make a project valuable and promising. She has a palpable passion for cities and creativity and vision for the future of the built world.

—Brad Hargreaves

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February 1, 2024
New York YIMBY

Foundations Underway At 300 East 50th Street In Midtown East, Manhattan

Foundations are underway at 300 East 50th Street, the site of a 23-story residential building in the Turtle Bay section of Midtown East, Manhattan. Designed by BKSK Architects and developed by MAG Partners in collaboration with Global Holdings, KRW Realty Advisors, Krown Point, and Safanad, the 275-foot-tall structure will span 170,000 square feet and yield 194 units, with 30 percent allocated to affordable housing, as well as ground-floor retail space, a cellar level, and a 30-foot-long side yard. 300 East 50th Street Owner LLC is listed as the owner and Urban Atelier Group is the general contractor for the property, which is located at the intersection of Second Avenue and East 50th Street.

Recent photographs show the reinforced concrete foundations in progress with the slab and perimeter walls already formed, and numerous bundles of rebar protruding throughout the plot at the locations of the core and columns. Based on the pace of work, construction could reach street level by the spring.

The below Google Street View image details the low-rise building that occupied the property prior to its demolition.

The rendering in the main photo depicts the northern corner of 300 East 50th Street showing a light gray brick envelope surrounding a grid of floor-to-ceiling windows. The structure rises uniformly to the first setback on the 16th floor, which is topped with landscaped terraces. Additional setbacks are located on the 18th floor, after which the building continues to the parapet and mechanical bulkhead lined with metal grilles. The property features 100 feet of ground-floor retail frontage on the northern and western elevations, with large bay windows framed by bronze-colored paneling.

King Contracting Group will be in charge of installing the CMU blocks, brick cladding, and EIFS panels.

The building is planned to house ten to 12 apartments per floor on levels two through 15, and five to seven apartments per floor on levels 16 through 23. Amenities include a shared rooftop deck, bicycle parking, a lounge, a fitness center, and an inner courtyard.

The nearest subways from the property are the E and F trains at the Lexington Avenue-53rd Street station, which provides a connection to the 6 train at the 51st Street station.

300 East 50th Street’s anticipated completion date is slated for the fourth quarter of 2025, as noted on site.

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