Singer Financial Corporation is finally moving forward with redeveloping the long-vacant former P.S. 64 facility at 350 East 10th Street, in the East Village, into a 225-unit student dormitory. The developer recently secured a $44 million loan for the project, dubbed University House, Commercial Observer reported. The 152,000-square-foot building, an individual landmark, will be able to accommodate 535 students for the Cooper Union and the Joffrey Ballet School. Amenities include a fitness center, outdoor terraces, storage for 113 bikes, laundry facilities, a student health center, a private study, a lounge, and a café. TriBeCa-based Curtis + Ginsberg Architects is the architect of record. Redevelopment of the property, acquired in 1999 for $3.15 million, has been in legal limbo for the past few years. Exterior alterations to the building were approved by the Landmarks Preservation Commission in June of 2013.
Benenson Capital Partners and Mack Real Estate Group have proposed a 12-story, 155-rental-unit mixed-use complex at the site of the former Peter Stuyvesant Post Office, at 432 East 14th Street in the East Village. The developers have applied for a variance with the Board of Standards and Appeals in attempt to build four stories higher than zoning allows, DNAinfo reported. The latest permits with the Buildings Department reflect the proposal. If the variance is granted, 9,131 square feet of retail space would be located on the ground and cellar levels. The residential units should average 743 square feet apiece, with 31 of them to rent at below-market rates. Amenities include bike storage space, private residential storage, a fitness center, laundry facilities, and multiple other “recreational rooms.” If the variance isn’t granted, YIMBY assumes the developer will move forward with previously filed plans, which call for an eight-story, 114-unit complex. SLCE Architects is the architect of record. Earlier this year, the first rendering was revealed of the eight-story project.
Foundation work is well underway at the site of Extell Development’s seven-story, 160-unit mixed-use development at 500 East 14th Street and 524 East 14th Street, in the East Village. Rebar can now be seen sprouting from the ground, as seen in photos in a EV Grieve update. Once complete, a seven-story, 106-unit building, encompassing 181,713 square feet, will be situated on the corner of Avenue A. A seven-story, 54-unit mixed-use building, measuring 71,719 square feet, will stand down the street at 524 East 14th Street. Across both, there will be 45,407 square feet of commercial-retail space on the ground and cellar levels. The apartments above should average 1,215 square feet apiece, which suggests condominiums are in the works.
Back in March, the six-story, 82-unit mixed-use building began to rise at the block-thru plot at 438 East 12th Street, in the East Village. The complex now appears to be topped out, according to photos by EV Grieve. Dubbed Steiner East Village, it is to encompass 151,943 square feet. That will include 8,376 square feet of ground-floor retail space and a 961-square-foot medical offices, also on the ground floor. Its 82 condominiums, averaging 1,315 square feet apiece, will come in one- to four-bedroom configurations. Amenities include a pool and spa, a gym, a library, a children’s playroom, a courtyard, and rooftop gardens. Douglas Steiner’s New Jersey-based Steiner Equities Group, doing business as their New York arm Steiner NYC, is the developer, while S9 Architecture is behind the design. Paris Forino is responsible for the interiors and Future Green Studio is the landscape designer. Completion can be expected in 2017.
This morning, we had hotel news for you. Now, we have more. In April, Lightstone Group acquired, for $127 million, a six-building, 181-unit residential portfolio for that comprises of 112-120 East 11th Street and 85 East 10th Street, in the East Village. The developer is currently planning to build a 85,000-square-foot, roughly 300-key boutique hotel at 112-120 East 11th Street, according to The Real Deal. Marriott International’s MOXY Hotels will be the operator. The five-story buildings at 112-120 East 11th Street currently contain 75 residential units across five buildings and are expected to be demolished. The other six-story, 106-unit building at 85 East 10th Street will remain and is expected to be sold off. The April acquisition was financed with an $85 million loan. The five apartment buildings at 112-120 East 11th Street represented $52.1 million, while the six story property at 85 East 10th Street traded for $75.4 million.