YIMBY Today: HFZ Purchases Chelsea Site for $800+ Million, Commercial Hub for New Dorp Beach, More

The BoulevardThe Boulevard, rendering via Kimco Realty

The Boulevard [DNAinfo New York]: Kimco Realty has revealed plans to construct a “multi-level retail hub” comprised of “nine new buildings and two existing ones” at 2600 Hylan Boulevard, in New Dorp Beach. Dubbed The Boulevard, the site is currently occupied by surface parking, and a groundbreaking date has not yet been determined.

27-07 43rd Avenue

Old rendering for 27-07 43rd Avenue, which has apparently switched to hotel

27-07 43rd Avenue [The Court Square Blog]: Foundation work has begun, with rebar now protruding above street level at 27-07 43rd Avenue, in Long Island City. Plans for the site include a nine-story residential or hotel building, and completion is expected in the Spring of 2016.

287 East Houston Street [Bowery Boogie]: The development site spanning 287-291 East Houston Street — on the Lower East Side — has reportedly been scooped up for “roughly the $15 million asking price.” About 36,000 square feet of development potential exists, including the inclusionary housing bonus, and an existing single-story structure must first be demolished.

The Lowline, rendering by James Ramsey

The Lowline, rendering by James Ramsey

The Lowline [Crain’s New York]: Founder Dan Barasch, partnered with designer James Ramsey, are planning to convert the underground abandoned trolley terminal — located in the Lower East Side — into public space, dubbed The Lowline. The project is expecting to cost “about $60 million in mostly private funds, plus some government money,” and completion is set for 2018.

501 West 17th Street [Wall Street Journal]: HFZ Capital Group has purchased the vacant block-encompassing, 76,425 square-foot development site — located at 501 West 17th Street, in West Chelsea — for “more than $800 million.” The site holds more than 760,000 square feet in building potential, and the developer is planning “to develop an architecturally significant project.”

456 Greenwich Street, rendering via Gene Kaufman

456 Greenwich Street, rendering via Gene Kaufman

456 Greenwich Street [Curbed]: The Landmarks Preservation Commission has approved Gene Kaufman’s single-story warehouse conversion at 456 Greenwich Street, in Tribeca. The structure is to be converted into a restaurant and the façade will be made of “red masonry”.

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