The proposed zoning text amendment seeks to establish a new C5-3A Commercial District within Midtown Manhattan. This amendment aims to facilitate the redevelopment of older office buildings into residential uses, particularly in response to the changing office market and housing needs. The amendment introduces specific bulk, use, and urban design regulations tailored for this new district, balancing the preservation of the area's commercial character with the promotion of new housing. It allows for a higher residential Floor Area Ratio (FAR) compared to existing commercial FAR, with incentives for affordable housing contributions. The new district is intended to create a more vibrant, mixed-use environment in a prime area of New York City, supporting both commercial activity and residential growth.