In March, YIMBY revealed renderings of the four-building, 223-unit condominium redevelopment of Cabrini Medical Center, in Gramercy. Now, developers Chetrit Group and Clipper Equity have closed on a $345.5 million loan for the project, according to Commercial Observer. Dubbed Gramercy Square, three medical buildings will be converted, and a fourth building will be constructed ground-up. Also planned is a 25,000 square-foot court yard, designed by M. Paul Friedberg and Partners; Woods Bagot is the project’s design architect. Completion is expected in 2016.
Apex Real Estate Investments recently purchased the properties spanning 257-259 3rd Avenue, in Gramercy, expanding an assemblage that now includes 253-261 3rd Avenue. Now Alfa Development is in contract to acquire the development site for $69.6 million. Condominiums are most likely planned for the site, which boasts roughly 90,000 square feet of building potential. Demolition permits were filed in 2014 for the three-story building at Nos. 253-255, although none are on file for the three- and five-story buildings at Nos. 257-261.
Last Summer, Apex Real Estate Investments acquired the three-story buildings spanning 253-255 3rd Avenue, in the Gramercy, and now the firm has purchased the buildings at 257-259 3rd Avenue for $15.7 million. According to Commercial Observer, initial plans were to build a 25-unit residential building with affordable units at Nos. 253-255, but it seems the site has been expanded. Bonus air rights are also available with the inclusionary housing bonus, but the rights will apparently be transferred elsewhere.
Back in July of 2014, YIMBY reported on the first filings for a new development coming to 150 East 23rd Street, between Lexington and Third Avenues, in Gramercy. The 19-story project is being designed by ODA Architecture, and we now have the reveal for the building, which is being developed by Kent Chang of LKH 23rd LLC.
The Naftali Group’s 20-story luxury condominium project at 234 East 23rd Street, in Gramercy, has risen quickly since construction began last year. The new building consists of 57 units, and now YIMBY has fresh renderings of the penthouse.
SMA Equities has acquired the three low-rise properties spanning 295-299 3rd Avenue, in Gramercy, which amount to 13,000 square feet of mixed-use space, for $27.8 million. Per The Real Deal, the assemblage boasts 46,000 square feet of building potential, and development plans have yet to be disclosed.
In December, YIMBY revealed plans and possible renderings for a 51-story tower at 281 Fifth Avenue, and now permits have been filed for the high-rise condo development at the corner of 30th Street.
The 1911 Beaux Arts office building at 300 Park Avenue South is getting a swanky new roof deck in time for next spring, according to reps from owner Rockrose Development. Murdock Solon Architects is designing…
Whatever you want to call them — NoMad, Gramercy, or Flatiron — the neighborhoods surrounding Madison Square Park are some of the hottest in the city right now. And despite the fact that the city’s hotel market appears to be headed for…
Yesterday YIMBY revealed a major redevelopment for Mary Immaculate Hospital in Queens, and today we have the reveal for another hospital conversion project, this time for the old Cabrini Medical Center, which spans 224-228 East 20th…