New York City Mayor Eric Adams, New York Gov. Kathy Hochul, and the United Nations Development Corporation (UNDC) announced a $500-million development plan for One and Two United Nations Plaza. Covering approximately 900,000 square feet, the project will include building-wide renovations by UNDC, along with renovations by the tenants of their leased office space. As part of the agreement, the United Nations (UN) has committed to long-term leases of space at UN Plaza.

Construction is expected to begin in the second quarter of 2025. The architect for the project is Spacesmith; the mechanical, electrical, and plumbing engineer is Cosentini Associates; and the construction manager is Turner Construction Company. CBRE acted as advisor to UNDC and Newmark acted as advisor to the UN for the project. Cushman & Wakefield manages UN Plaza and is spearheading construction management of the renovation project through its Project & Development Services team.

“The United Nations and New York City have a partnership that goes back nearly 80 years, and this announcement of a comprehensive repositioning of the buildings combined with new long-term leases continues that partnership for years to come,” said George Klein, chairman, UNDC.

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