Manhattan Plaza

Manhattan Plaza is a large federally subsidized residential complex of 46 floors and at 400 and 484 West 43rd Street in midtown Manhattan, New York City. Opened in 1977, it has 1,689 units and about 3,500 tenants. 70% of the tenants are from the performing arts, 15% are neighborhood residents, and 15% are elderly. It occupies the city block bounded north by 43rd Street, east by Ninth Avenue, south by 42nd Street, and west by Tenth Avenue. Developed by HRH Construction, since January 2004 it has been owned by The Related Companies.HistoryConstruction on this "superblock" development West of Manhattan's Times Square neighborhood was begun in 1974 by HRH Construction, a real estate construction and development firm led at the time by Richard Ravitch. The project consisted of two 45-story residential towers at opposite ends of the block designed for middle- and upper-middle class rental tenants, with townhouses, shops, a health club and parking facility in the mid-block, financed with a $95 million mortgage by the City of New York under the New York State Mitchell-Lama Housing Program for middle-income housing. However, during construction, New York City went into a steep recession, and faced with mounting financial difficulties, the city was able to fund only $65 million of its commitment. The financial crisis also affected the city's housing market, and it became apparent that there would be little to no market for the apartments as originally been planned. This was in part due to the location of the development in the heart of New York's then rough-and-tumble Clinton neighborhood—historically known as "Hell's Kitchen"—and the rapidly declining environment of the Times Square area, at that point the epicenter of New York's 'adult' and pornographic activities.