CSC files plans for 77 apartments in Murray Hill office tower
300 East 42nd Street (Credit - Google)
Alberto Smeke of CSC Real Estate submitted a major alteration application for the conversion of six floors of a commercial office (COM) building at 300 East 42nd Street in Murray Hill, Manhattan, to 77 residential units. The plan was filed with the New York City Department of Buildings on August 10, 2025 under job number M01254875. It calls for a renovation of a portion of the 17-story building. The project is described in the filing as: residential conversion of floors 6 to 9, 14, 15 of existing office and retail building.
Ten31 reported in April 2025 that CSC would develop 135 rental units in the building. Other developers have added residential units in a piecemeal fashion to office buildings, such as Albert Srour, as PincusCo has reported.
The Smeke family’s CSC Real Estate partnered with David Werner Real Estate Investments to buy the building in a short sale, valued at $52 million, from Meadow Partners and Somerset Partners . As part of that sale transaction, David Werner retained control of the ground floor and basement retail through a 99-year lease, and CSC Real Estate controls the upper portion of the building.
The DOB plans call for retail in a below-ground space, and “eating and drinking establishment including limited musical entertainment” on first floor and mezzanine. They call for offices on floors two through five, and 16 through 18, then apartments on floors six through nine, and floors 14 and 15. Floors 10, 11, 12 and penthouse floors 18 and 19 do not have a proposed use in this filing.
300 East 42nd Street
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Cellar | ACCESSORY RESIDENTIAL SPACES AND AMENITIES INCLUDING WELLNESS ROOM, CO-WORKING LOUNGE, GOLF & TV ROOM, PET SPA, BATHROOMS, BICYCLE STORAGE, LOCKER ROOM, BREAK ROOM | Apartment | 45 | Residential | ||
| 2 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Cellar | MECHANICAL EQUIPMENT AND OFFICES | Business and Service | 55 | Business | ||
| 3 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Cellar | RETAIL SPACE | Retail Sale | 46 | Mercantile | ||
| 4 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Ground Floor | EATING AND DRINKING ESTABLISHMENT INCLUDING LIMITED MUSICAL ENTERTAINMENT | Restaurant | 100 | Assembly | ||
| 5 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Ground Floor | RESIDENTIAL LOBBY, MAIL ROOM, PACKAGE ROOM, BICYCLE STORAGE. | Apartment | 2 | Residential | ||
| 6 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Ground Floor | COMMERCIAL LOBBY, STORES, OFFICES, TRUCKING BAY. | Retail Sale | 60 | Mercantile | ||
| 7 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Mezzanine - 1 | EATING AND DRINKING ESTABLISHMENT IN CONJUNCTION WITH FIRST FLOOR RESTAURANT, INCLUDING LIMITED MUSICAL ENTERTAINMENT. | Restaurant | 74 | Assembly | ||
| 8 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 2 | OFFICES | Business and Service | 92 | Business | ||
| 9 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 3 | OFFICES | Business and Service | 92 | Business | ||
| 10 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 4 | OFFICES | Business and Service | 92 | Business | ||
| 11 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 5 | OFFICES | Business and Service | 92 | Business | ||
| 12 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 6 | (14) CLASS 'A' APARTMENTS | Apartment | 0 | Residential | 14 | |
| 13 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 7 | (14) CLASS 'A' APARTMENTS | Apartment | 0 | Residential | 14 | |
| 14 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 8 | (14) CLASS 'A' APARTMENTS | Apartment | 0 | Residential | 14 | |
| 15 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 9 | (14) CLASS 'A' APARTMENTS | Apartment | 0 | Residential | 14 | |
| 16 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 10 | ||||||
| 17 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 11 | ||||||
| 18 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 12 | ||||||
| 19 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 13 | (14) CLASS 'A' APARTMENTS. (MARKETING NAME OF THIS FLOOR IS "14TH FLOOR") | Apartment | 70 | Residential | 14 | |
| 20 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 14 | (7) CLASS 'A' APARTMENTS. (MARKETING NAME OF THIS FLOOR IS "15TH FLOOR") | Apartment | 60 | Residential | 7 | |
| 21 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 15 | OFFICES (MARKETING NAME OF THIS FLOOR IS "16TH FLOOR") | Business and Service | 60 | Business | ||
| 22 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 16 | OFFICES (MARKETING NAME OF THIS FLOOR IS "17TH FLOOR") | Business and Service | 60 | Business | ||
| 23 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | 17 | OFFICES (MARKETING NAME OF THIS FLOOR IS "18TH FLOOR") | Business and Service | 60 | Business | ||
| 24 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Penthouse - 18 | ||||||
| 25 | acris | 08/12/2025 05:15 AM | acris | 08/12/2025 05:15 AM | Penthouse - 19 |
The property
The office building in Murray Hill has 207,887 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 197 feet and is 70 feet deep with a total lot size of 13,800 square feet. The lot is irregular. The zoning is C5-2 which allows for up to 10 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $65 million. The most recent loan totaled $45 million and was provided by Northwind Group on April 23, 2025.
Prior sales and revenue
This property was sold by Meadow Partners|Somerset Partners for $52 million to CSC Real Estate|David Werner Real Estate Investments on April 23, 2025.
The 207,887-square-foot property generated revenue of $11.9 million or $57 per square foot, according to the most recent income and expense figures.
Violations and lawsuits
According to city public data, the property has received $1,050 in OATH penalties in the last year.
There were no lawsuits or bankruptcies filed against the property for the past 24 months.
The neighborhood
In Murray Hill, The majority, or 54 percent of the 11 million square feet of commercial built space are elevator buildings, with office buildings next occupying 22 percent of the space. In sales, Murray Hill has near average sales volume among other neighborhoods with $82.2 million in sales volume in the last two years and is the 39th highest in Manhattan. For development, Murray Hill has near average amount of major developments among other neighborhoods and is the 15th highest in Manhattan. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 22 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of one of the two commercial properties representing 207,887 square feet of the 349,645 square feet. The identified owner is David Werner Real Estate Investments. There are no active new building construction projects on this tax block.
The surrounding
Within a 400-foot radius of 782 2 Avenue, PincusCo identified four commercial real estate items of interests occurred over the past 24 months. Of those four items, two were sales above $5 million totaling $185 million. The most recent of the two was David Werner Real Estate Investments and Metro Loft Management which bought the 672,462-square-foot, one-unit office building (O4) on 235 East 42nd Street for $140 million from Kayden family on February 19, 2025. Of those four items, two were loans above $5 million totaling $640 million. The most recent of the two was Metro Loft Management and David Werner Real Estate Investments in which borrowed $540 million from Madison Realty Capital secured by the 672,462-square-foot, one-unit office building (O4) on 235 East 42nd Street and one other property on May 29, 2025.
Direct link to the property’s ACRIS page and link to DOB NOW portal.