[JayPro]

This post *is* on topic; and you'll see why:
Yes, Manhattan is essentially built out, but mostly vis a vis residential and mixed use.
There's enough construction coming in the pipeline anyway. The new MidTown East zone is ready to roll. The West side is gonna go crazy starting really soon. The 57th Street corridor will be almost unrecognizeable 5 years from now. Downtown there're two more towers awaiting the green light at the WTC, plus a 1,000+ at the Seaport, 56 Leonard, 99 Church (still the addy for this tower?) etc.

The relevance to what I just said to this post is this. The built-out aspect of Manhattan is primarily ultra-prime residential-based; and the fact that choice parcels along the above-mentioned 57th St. are selling like mad proves it. Park and Madison are almost just as much in demand...with 432P leading the pack. 8th Ave and 10th Ave aren't poorly repreesented either btw.
Here's the relevant point: It makes sense that an entire swath of land from Long Island City to Downtown Brooklyn is ready to meet the affordability demand by the lower classes that Manhattan cannot provide anymore.
Everyone who's a fan of going vertical in this Town should be dancing whirlyjigs till they fall down and see God. While they'll never admit it, the NIMBY's and pea-brained civic associations who basically have no clue what's good for them will be forced to enter into the reality that once outward expansion is no longer feasible, there's only one way to go.
Up. And in some parts of this city, way up.
For a part of Queens already booming, this project is a great way to see the foregoing theory realized.