Portugal Colonial - New York building that buckled now 'stable,' says mayor

"There has been no additional movement of the structure since yesterday morning. This continues to be monitored as that emergency work is underway," he told a briefing.

Two load-bearing columns of a 37-story tower currently under construction, located near Grand Central Terminal, warped and several floors sagged on Tuesday. There were no reported injuries.

Nearby hotels, shops, and apartments were immediately evacuated and streets closed to traffic, amid fears that the building, formerly the headquarters of pharmaceutical giant Pfizer, might collapse.

Since then, emergency work has consisted of installing temporary shoring and reinforcement beams, the mayor explained.

"We have also reduced the number of evacuated buildings. That number is now four under a full vacate and one under a partial vacate (order) of the ground floor restaurant," Mamdani added.

The building is undergoing a conversion from office space to apartments.

According to its developers, this real estate project of nearly 1.3 million square feet, scheduled for completion in early 2027, is expected to bring around 1,600 rental apartments onto the market.

"I do continue to consider the conversion of office space into residential space as part of our answer to the housing crisis," the New York mayor said.

"I also consider that we have to do so safely and in a way that is fully accountable, he said, promising a thorough investigation.

O.Salvador--PC