Real Estate

Macy’s Herald Square Office Tower Needs City Approval | National Real Estate Investor

by nreionline.com posted 1year ago 104 views
The proposed 1.5-million-sq.-ft. office tower requires zoning changes that would have to be approved by the city. : (Bloomberg)—Macy’s Inc. faces a difficult road as it dives into New York City real estate development. The struggling retailer, trying to generate cash off prime real estate in midtown Manhattan, recently unveiled plans for a 1.5 million-square-foot building atop its iconic store in Manhattan’s Herald Square. But the proposed office tower requires zoning changes that have to be approved by the city, a potentially thorny political process that can delay, or even quash, the project.

In this article