145 West 118th Street [Harlem+Bespoke]: Developers are planning on razing a vacant five-story walk-up at 145 West 118th Street to make way for a six-story and seven-unit building; according to permits, demolition is imminent.
Jamaica to Boom with Rezoning [The Wall Street Journal]: Numerous development projects are set to take off in Jamaica, and the neighborhood’s renaissance is long overdue. In the near-term, construction is “set to begin [on] an apartment building with 500 units and a hotel with more than 200 rooms,” at 93-01 and 93-45 Sutphin Boulevard, respectfully.
25 West 35th Street [Commercial Observer]: A “first time Chinese buyer” has purchased two four-story low-rises in Midtown West that “are in a ‘state of disrepair.’” The lots — 23-25 West 35th Street — went for $19.2 million, and offer 40,000 square feet of building potential.
1681 3rd Street [The Real Deal]: Extell Development has filed demolition permits for low-rise buildings at 1681 and 1683 3rd Avenue in Yorkville. Extell also owns 1685-1689 3rd Avenue, and the area “allows for the highest density residential development in the city.”
Queens Hotel Boom [Crain’s New York]: Although the areas around JFK and La Guardia have hotel clusters of their own, Long Island City is experiencing a hotel building boom, where “23 properties with 2,008 rooms and another eight [are] under construction.”
329 Lincoln Road [Curbed]: The 22-unit, six-story low-rise building at 329 Lincoln Road in Prospect-Lefferts Gardens is nearing completion, with opening set for July. The all-affordable structure appears plastic-like, but should quickly blend into the rapidly developing neighborhood.
2215 3rd Avenue [The Real Deal]: HAP Investment Management has acquired a multi-parcel vacant site on the southeast corner of 3rd Avenue and East 121st Street for $13 million. The lots include 2211-2217 3rd Avenue and 214-216 East 121st Street. The investment service representing both sides of the transaction has stated “it will definitely be a residential development.”
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