5 Times Square
1,100,000 SF
Partners: UAG
Accurise Consulting worked with the construction manager to create the baseline schedule, perform the monthly schedule updates, and perform various schedule analyses for 5 Times Square, the conversion of a 38-story Midtown office tower into one of the largest office-to-residential redevelopments in New York City.
Originally built between 1999 and 2002 as a commercial keystone in Times Square, the tower sat nearly 80% vacant after its anchor tenant relocated in 2022. The conversion, led by a development team headed by RXR, will deliver 1,250 apartments with approximately 37,000 square feet of ground-floor retail. One quarter of the residential units are designated as affordable housing.
The project is one of the largest to advance under New York State's 2024 housing measures, which introduced a new tax incentive for office-to-residential conversions and removed long-standing density restrictions in Manhattan. 5 Times Square is part of a broader transformation reshaping post-pandemic Midtown, where former office buildings are being repurposed to help address the city's deepening housing shortage.
The diamond that accents the i in the Accurise logo is the milestone symbol used in project scheduling and represents all of the significant and major project related milestones that exist in the course of a project. At Accurise, every milestone is important to us. The milestone represents the promises we make to our clients to plan and schedule their projects in a manner that keeps their project on track and them in control, with clarity, confidence, and trust.