Articles by Reid Wilson

Tishman Speyer Planning 1.3-Million Square-Foot Office Tower At 444 Eleventh Avenue, Hudson Yards

6:30 am on March 10, 2016 By Reid Wilson

Last summer, news broke that Tishman Speyer was in contract to buy the development assemblage at 434-444 Eleventh Avenue and 550 West 37th Street, located between West 36th and 37th streets, in the Hudson Yards District. Real Estate Weekly reports the developer has closed on the purchase of 434-444 Eleventh for $163.5 million. 550 West 37th Street sold in a different transaction at an undisclosed price. Plans for the site call for a 1.3-million square-foot office tower. The exact height of the building is probably still being hammered out and the design architect is currently unknown. Ultimately, the site could accommodate up to 1.7 million square feet of development if the maximum number of air rights are purchased. The site is vacant, with the exception of a single-story commercial property at 550 West 37th Street. The two single-story buildings at 446-552 Eleventh Avenue are not (yet) part of Speyer’s assemblage.

First Phase Of Hudson Lights Mixed-Use Project Wraps Up Construction, Fort Lee

6:00 am on March 10, 2016 By Reid Wilson

Back in November of 2013, YIMBY revealed renderings of Hudson Lights, a multi-building mixed-use development, in downtown Fort Lee, New Jersey. The three-block project is bound by Main Street, Lemoine Avenue, Bruce Reynolds Boulevard, and Park Avenue (formerly Martha Washington Way). Its first phase, which includes 140,000 square feet of commercial-retail and 276 rental apartments in the form of 12- and three-story buildings, is now wrapping up construction. NorthJersey.com reports 75 percent of the retail space is now leased. CycleBar, SeeSaw, Linwood Wine & Liquor, CVS, a Capital One bank, a Coldwell Banker office, multiple restaurants, and an eight-screen iPic movie theater have all leased space. Opening is expected this summer. The approved second phase of the project will include two taller buildings with an additional 201 residential units, a 175-key hotel, and 50,000 square feet of retail space. Illinois-based Tucker Development Corp. is the developer.

Two-Story, 5,500-Square-Foot Commercial Project Coming To 100-08 103rd Avenue, Ozone Park

4:00 pm on March 9, 2016 By Reid Wilson

Long Island-based property owner Gurwinder Singh has filed applications for a two-story, 5,512-square-foot multi-use commercial building at 100-08 103rd Avenue, in Ozone Park, located two blocks from the 104th Street stop on the A train. There will be 1,807 square feet of retail space on the ground floor and an equal amount of medical office space on the second floor. Jamaica-based Gerald Caliendo is the architect of record. The 60-foot-wide zoning lot is partially occupied by a two-story building at 100-10 – 100-12 103rd Avenue, although the vacant 20-foot-wide section to the east of the structure will be the site of the new building.

Three-Story, Three-Unit Residential Building Planned At 1605 Taylor Avenue, Van Nest

3:00 pm on March 9, 2016 By Reid Wilson

Connecticut-based property owner Gjin Gjini has filed applications for a three-story, three-unit residential building at 1605 Taylor Avenue, in the Van Nest section of the Bronx, located five blocks from the East 180th Street stop on the 2 and 5 trains. The project will measure just 3,740 square feet and would rise on a vacant 25-foot-wide lot. There will be 2,805 square feet of residential space, so the full-floor residential units should average 935 square feet apiece. That means relatively spacious rental units are probably in the works. Long Island-based Shahriar Afshari is the applicant of record.

Request For Proposals Launched For Pier 40’s Design Phase, Hudson Square

2:00 pm on March 9, 2016 By Reid Wilson

Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.

Norah Jones Converting Two-Story, Two-Family Building Into Single-Family House At 172 Pacific Street, Cobble Hill

1:00 pm on March 9, 2016 By Reid Wilson

Musician and property owner Norah Jones is moving forward with converting the two-story, two-family residential building at 172 Pacific Street, in Cobble Hill, into a single-family townhouse. Brownstoner reports all of the needed approvals are in place to do the conversion, which includes partially demolishing the rear of the property and replacing it with a new rear extension that will include a sliding glass door on the ground floor and French doors and Juliette balconies on the second floor. In all, the structure will see its residential space go from 3,552 square feet to 3,085 square feet. Baxt Ingui Architects is designing the renovations. As the property sits within the Cobble Hill Historic District, the Landmarks Preservation Commission had to approve of the project, which it did in November of 2015. The house was purchased for $6.25 million in 2015.

15,000 Square Feet Of Retail Space Planned At 40-09 29th Street, Long Island City

11:00 am on March 9, 2016 By Reid Wilson

Forest Hills-based property owner Kyong I. Park has filed applications for two two-story commercial-retail buildings at 40-09 – 40-11 29th Street, in the Queens Plaza section of Long Island City, located three blocks north of the elevated tracks for the E/M/R/7 subway lines. The northern building at 40-09 29th Street will measure 10,012 square feet and the other building will measure 9,212 square feet. There will be 14,907 square feet of commercial space across both buildings, and the Schedule A notes both will be used as retail space. Iljoong Kim’s Flushing-based Chio Design Consulting is the applicant of record. A two-story house at 40-09 29th Street and the Korean Philippo Church at 40-11 29th Street must first be demolished. Permits have not yet been filed to do so.

Plans For 452-Unit Rental Conversion Of 26-Story Office Building At 2 Rector Street Abandoned, Financial District

10:00 am on March 9, 2016 By Reid Wilson

During the summer of 2015, Kushner Companies and CIM Group filed plans with the Department of City Planning to convert the 26-story, 466,000-square-foot office building at 2 Rector Street, in the Financial District, into 452 rental apartments. The developers are now abandoning those plans and are in contract to sell the office building to Cove Property Group for roughly $225 million, according to the New York Post. The sale comes three years after Kushner and CIM acquired the property for $140 million. The new owners plan to continue leasing the property to commercial tenants. It was 84 percent occupied in 2015, by multiple tenants.

Reveal For 32-Story Turkish Consulate-General Building At 821 United Nations Plaza, Midtown East

6:00 am on March 9, 2016 By Reid Wilson

The Republic of Turkey is moving forward with a new consulate-general building, dubbed the Turkevi Center, at 821 United Nations Plaza, located on the corner of East 46th Street in Midtown East. Curbed NY has renderings of the Perkins Eastman-designed 32-story, 200,000-square-foot mixed-use complex, which will contain office space and residential units. The residential units are being built to accommodate staff and visitors, and the facility will have passport and visa offices. Amenities will include conference rooms, a prayer room, a gym, an auditorium, and an underground parking garage. The new building would replace Turkey’s existing 12-story facility as well as the vacant lot at 344 East 46th Street. Neither new building applications nor demolition permits have yet been filed.

Excavation Begins For Six-Story, Eight-Unit Mixed-Use Project At 42-43 27th Street, Long Island City

4:00 pm on March 8, 2016 By Reid Wilson

In December of 2014, YIMBY reported on filings for a six-story, eight-unit mixed-use building at 42-43 27th Street, in the Queens Plaza section of Long Island City. Then in the spring of 2015, the single-story occupant was demolished. Now, The Court Square Blog reports that excavation work is underway and a schematic drawing of the new building is posted on-site. Chang Hwa Tang’s Flushing-based Tan Architect is responsible for the design of the 9,372-square-foot project. There will be 1,450 square feet of ground-floor retail space and the residential units should average a rental-sized 694 square feet apiece. Xi Zhao, doing business as a Rego Park-based LLC, is the developer. Completion is expected in the summer of 2017.

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Articles by Reid Wilson

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