Concrete and rebar has risen at the 17th floor of Commune Hotel & Resort’s planned 20-story, 229-key Joie de Vivre hotel at 50 Bowery, in Chinatown. Bowery Boogie has the latest update, and glass installation is well underway; the structure was only 10 stories in height this past June. Peter Poon is designing the building, and completion is expected in the spring of 2016.
In October 2014, YIMBY reported on permits filed for a 16-story, 16-unit condominium building at 10 West 17th Street, in the Flatiron District, and then the LPC approved the plans the following December. Now Bhatia Development and Sherwood Equities have landed $48 million in financing from CIT, according to Commercial Observer. An existing three-story building must first be demolished, but construction is expected to begun early in 2016 for a mid-2017 completion. Beyer Blinder Belle is designing.
Marvel Architects is designing a 60,000 square-foot food court, with a number of retail storefronts, on the ground floor of Building 77, in the Brooklyn Navy Yard, according to Crain’s. The 16-story, one million-square-foot structure is being completely renovated to accommodate modern manufacturing/office tenants; Shiel Medical Laboratory is already expected to take 240,000 square feet. Opening is scheduled for the second half of 2016.
RedSky Capital recently acquired the three-story commercial building at 585 Fulton Street, in Downtown Brooklyn, for $13 million, and now owns the entire triangular block spanning 565-591 Fulton Street and 398 Flatbush Avenue Extension (excepting the four-story building at 571 Fulton Street). The assemblage currently has 280,000 square feet of development rights, but if No. 571 is acquired, that figure would increase to 330,000 square feet, according to The Real Deal.
Soho Properties, MHP Real Estate Services and Hampshire Hotels Group have closed on the purchase of 19,772 square feet of air rights for their planned 29-story, 384-foot mixed-use commercial building at 560 7th Avenue, in Midtown (at 40th Street), according to Commercial Observer. A 238-key Dream Hotel is planned, which will also feature retail space on the ground & second floor, and restaurants on the third floor and cellar level. Stonehill & Taylor Architects is designing, and demolition of the existing six-story building is expected to commence by the end of this year.
