The Real Deal New York

Landmarked West 23rd Street Home Depot building could expand upward

March 02, 2012 02:00PM

The landlords of 28-46 West 23rd Street are considering adding floors to the top of the Midtown South office building and the home of Home Depot, between Fifth and Sixth avenues, the New York Observer reported.

The plan is still in the works, according to the paper, but the owners, including Colliers International President Michael Cohen, hope to utilize unclaimed air rights as the building lies in the submarket which boasts the nation’s lowest commercial vacancy rate. Since the building is landmarked, the changes will need to be approved and not significantly alter the building’s key original features. The plan is to add space and spruce up the top floors.

“We would be redeveloping the top of the building to make something very special,” Cohen told the Observer. [NYO]