515 West 29th Street [Commercial Observer]: The Bauhouse Group has received funding to finance its 43,000 square-foot project at 515 West 29th Street in Chelsea. The developer previously acquired additional air rights in March, and construction is scheduled to wrap-up in late 2015.
51-25 Queens Boulevard [Brownstoner]: A “Queens-based buyer” has purchased the two-story building at 51-25 Queens Boulevard in Sunnyside for $2.9 million. Although plans for the site remain unknown, the building potential is significant — residential or commercial space can be constructed with an FAR of 5.
6 West 37th Street [The Real Deal]: Nevada-based hotel developer Sushil Patel has acquired two six-story properties at 4-6 West 37th Street in the Garment District. The developer “plans to raze the structures and construct a hotel on site,” though details have yet to be revealed.
800 Union Street [NY Daily News]: The six-story parking garage at 798-804 Union Street in Park Slope will be converted into 28 units of luxury rentals, and the first floor will have 7,000 square feet of retail.
79 Nassau Street [Crain’s New York]: Lexin Capital has purchased three contiguous low-rise buildings — at 75-81 Nassau Street in the Financial District — for nearly $42 million. The chief executive of the firm has stated they “would continue to operate the property as-is,” but prospects of redeveloping have also sparked interest; the site would “permit up to about 72,000 square-feet of residential space and about 36,000 square-feet of commercial.”
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