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The $120 Million Secret Of 330 West 42nd Street: Inside The McGraw-Hill Building's Art Deco Transformation And Residential Overhaul

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The iconic McGraw-Hill Building at 330 West 42nd Street, a towering symbol of Art Deco brilliance in Midtown Manhattan, is currently undergoing one of the most significant and closely watched transformations in New York City real estate. As of late December 2025, the landmark skyscraper is shifting from its historic identity as a purely commercial hub into a modern, mixed-use complex, featuring a partial commercial-to-residential conversion that is actively under construction, signaling a bold new chapter for the Hell's Kitchen skyline. This monumental change follows a colossal $120 million renovation that has already revitalized the structure, positioning it at the forefront of the city's post-pandemic office market and its burgeoning trend of converting underutilized commercial properties into luxury housing. The building's transformation is not just a real estate story; it is a critical piece of New York’s architectural preservation and urban evolution, breathing new life into a nearly century-old masterpiece designed by the legendary Raymond Hood.

Biography of a Skyscraper: The McGraw-Hill Building Profile

The structure at 330 West 42nd Street, officially known as the McGraw-Hill Building, is an architectural and historical titan in New York City. Its profile is defined by its striking design, vibrant color palette, and pivotal role in the history of American publishing and comics.

  • Primary Name: McGraw-Hill Building
  • Alternate Names: GHI Building (historically)
  • Address: 330 West 42nd Street, New York, NY 10036
  • Location: Hell's Kitchen / Midtown West, Manhattan
  • Architects: Raymond Hood, with Godley & Fouilhoux
  • Architectural Style: Art Deco (specifically, a unique blend of International Style and Art Deco)
  • Construction Date: 1930–1931
  • Height: 485 feet (148 meters)
  • Stories: 33 stories (some sources cite 35 stories)
  • Landmark Status: Designated New York City Landmark
  • Original Tenants: McGraw-Hill Publishing Company, Marvel Comics (historical)
  • Current Owner (Since 1994): Deco Towers
  • Renovation Developer: Resolution Real Estate

The $120 Million Transformation: Modernizing an Art Deco Icon

The building's current relevance stems from a massive capital improvement project completed by Resolution Real Estate in 2021. This $120 million transformation was not merely a cosmetic upgrade; it was a comprehensive overhaul designed to make the 1930s structure competitive with modern, Class A office spaces.

The renovation was spearheaded by MdeAS Architects, a firm renowned for revitalizing landmark buildings. Their work focused on preserving the building’s historic exterior—including the distinctive blue-green terra cotta and the iconic green-capped roof—while completely modernizing the interior infrastructure and tenant experience.

Key components of the $120 million project included:

  • Lobby Redesign: A complete overhaul of the main entrance and lobby area to create a brighter, more contemporary welcome while respecting the Art Deco heritage.
  • Infrastructure Upgrade: Installation of new HVAC systems, elevators, and telecommunication infrastructure to meet modern technological demands.
  • Open Floor Plans: Conversion of traditional, segmented office layouts into flexible, open-plan spaces highly sought after by today's corporate tenants.
  • New Amenities: The addition of high-end facilities for office tenants, including state-of-the-art lounges, a dedicated wellness center, and conference facilities.

This extensive investment ensured that the McGraw-Hill Building retained its status as a premier Midtown West office destination, even as the real estate market began to shift dramatically.

The Residential Shift: Apartments Under Construction in a Commercial Landmark

The most compelling and current news surrounding 330 West 42nd Street is its partial commercial-to-residential conversion. Driven by the post-pandemic need to repurpose older office stock, Resolution Real Estate and Deco Towers announced plans to transform a portion of the building into luxury apartments, a trend expanding rapidly across Times Square and Midtown.

As of November 2025, the residential conversion project is officially under construction. This move is significant, as it places the building at the heart of New York City’s adaptive reuse movement, where office high-rises are finding new life as multi-housing properties.

The design team for the residential portion includes MdeAS Architects for the overall conversion and SLCE Architects, who are handling the interior design of the new residential spaces. While specific details on the number of units and exact completion timeline are closely guarded, the project is expected to deliver premium housing units, leveraging the building’s prime location near Times Square, the Theater District, and major transportation hubs.

This conversion faces the unique challenge of integrating modern residential living within a landmarked Art Deco shell, ensuring that the new interiors and infrastructure comply with historical preservation standards while providing a high-end experience for residents. The blend of historic architecture with contemporary residential amenities—like the planned lounges and wellness center—promises a truly unique living opportunity in the heart of Manhattan.

Architectural Legacy and Historical Significance

The McGraw-Hill Building's importance extends far beyond its current real estate value. It is a critical piece of architectural history, designed by Raymond Hood, who also contributed to the design of Rockefeller Center.

The building is often cited for its bold use of color, which was revolutionary for its time. The blue-green terra cotta and the striking green cap were deliberate choices to make the structure stand out against the grey stone of traditional Manhattan skyscrapers.

Historically, the building was created specifically for publishing magnates James McGraw and James Hill, serving as the headquarters for the McGraw-Hill Publishing Company for decades. Its tenants also included a brief but notable stint as the home of Marvel Comics, cementing its place in popular culture history.

The conversion and renovation projects serve to extend this legacy, ensuring that the landmark remains a vibrant, economically productive part of Midtown Manhattan for the next century. The ability of the structure to pivot from a purely commercial entity to a mixed-use residential and office tower highlights the enduring quality and adaptability of Art Deco design.

The $120 Million Secret of 330 West 42nd Street: Inside the McGraw-Hill Building's Art Deco Transformation and Residential Overhaul
330 west 42nd street
330 west 42nd street

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