SEDESCO Announces Completion of First-of-its-Kind Transit Improvements at Midtown Subway Stop

NEW YORK, NY (06/30/2026) (readMedia)-- Today, the Metropolitan Transportation Authority (MTA) and SEDESCO announced the completion of major transit improvements at the 57th Street subway station in Manhattan that will serve the surrounding neighborhood and benefit all straphangers. The improvements, which include two recently installed elevators and other station upgrades, were financed by SEDESCO through the city's Zoning for Accessibility (ZFA) program, which allows developers to improve access to public transit in exchange for increases to a building site's density.

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Watch a recording of the announcement here.

"SEDESCO is proud to deliver these transit upgrades and improve the rider experience for local residents, the thousands of riders who commute to-and-from 57th Street every day, and the millions who cross through the neighborhood each year," said Derek Gilchrist, General Counsel at SEDESCO. "SEDESCO builds and invests in New York because we believe in the future of this great city. That is why we also believe that every project we undertake should improve the community it is in. We are thankful to the MTA for their partnership throughout this process, and to the other government agencies, advocates and unions who helped to make this first-of-its-kind project possible."

"57th Street is the first station to be made fully accessible under Zoning for Accessibility, and I want to thank the team at SEFESDCO for that investment. They've been great partners... [and] this is a good deal for everybody. The public gets accessibility, and the developer builds a little more housing, which is also good for the City of New York," said Janno Lieber, MTA Chair and CEO.

"What makes this special is that it's this public-private partnership. Not a dime of public money has gone into this project, and we saved over $40 million in construction and maintenance costs through the partnership that made this station accessible. [Zoning for Accessibility] is a clear sign that developers like our partners at SEDESCO are embracing the model, which is a win-win for the neighborhood and for public infrastructure." said Jamie Torres-Springer, President, MTA Construction & Development.

"Congratulations to [SEDESCO] for engaging in this important partnership. This is a model for future projects across the five broughs... When the public and private combine their forces, you get great projects like this, and it's going to help older New Yorkers, folks with disabilities, and parents with strollers," said Brad Hoylman-Sigal, Manhattan Borough President.

"These elevators are a great example of what smart planning can deliver for New Yorkers. Through Zoning for Accessibility, new developments receive a bit more density and in exchange they fund and maintain critical accessibility upgrades at nearby subway stations. It's a great way for the City to leverage private development for public good," said Sideya Sherman, Director of the Department of City Planning.

SEDESCO financed and built the elevators through the ZFA program and delivered them on-time and on-budget. Because the work was privately funded, the upgrades came at no cost to taxpayers - the first time a private builder has improved transit access this way in New York City.

The elevators at the 57th Street subway station, which are owned and operated by the MTA, will now make the station accessible for the first time and allow thousands of residents, commuters and tourists to use the station more easily. In exchange for funding and constructing these improvements, SEDESCO has secured a zoning bonus of 53,029 square feet for its future development at its West 57th?Street property. With the improvements complete, SEDESCO will continue to advance development of its West 57th Street property as it looks forward to delivering a world-class, mixed-use property befitting of the neighborhood.