Construction is nearly complete for the 62-story mixed-use tower named “ARO” at 242 West 53rd Street, in Midtown, Manhattan. A plethora of transit options are located near the site. The A, B, C, D, E, F, N, Q, R, W, and 1 trains can all be found within seven blocks distance. Algin Management is responsible for the development.
711 Montgomery Street in Jersey City has sold to Sequoia Development Group for an undisclosed amount. The sellers, Florida-based Rescore Montgomery LLC, had purchased the site in April 2015 for $4.5 million. Sequoia Development Group joined a partnership with Grid Real Estate to work on the development. The 16-story project is expected to yield 309 apartments, and today YIMBY has the first look at renderings.
Permits have been filed for a seven-story mixed-use building at 119 Second Avenue, in the East Village. The development will rise on the site of a tragic explosion from 2015, which claimed two fatalities. After the event, three buildings were demolished and cleared. The new project will fill one of the three addresses. Nexus Development is heading the project, partnering with Immobiliare Capital and Premier Equities. According to the Real Deal, Nexus purchased 119 and 121 Second Avenue in 2017 for $9.15 million. 123 Second Avenue was sold to Ezra Wibowo in 2016.
New information has been revealed about 80 Flatbush, in Downtown Brooklyn, by Alloy Development. The release brings new renderings, as well as a construction timeline and design revisions in response to a substantial voluntary review process. The proposal will begin the formal public review through ULURP, i.e. the Uniform Land Use Review Procedure, in early to mid-March. Architecture Research Office will be responsible for the design of the school, to be included in the base.
Demolition Permits have been filed for 517, 519, and 523 West 29 Street, in West Chelsea, Manhattan. The site is just blocks away from Hudson Yards. This comes over a year after reports broke that developer Six Sigma paid a pricey $800 per buildable foot for 4,900 square feet of air rights to add to the project. The $3.92 million purchase allows the developer to add another floor to the top of the structure, which can be expected to sell for quite a sum. Six Sigma purchased the actual property for $54.75 million.
