Kushner Companies and CIM Group plan to convert the 26-story, 470,000 square-foot office building at 2 Rector Street, in the Financial District, into 452 rental units. The property is currently 84 percent occupied, with the building’s largest lease running until 2022. The team acquired the building for $140 million in 2013.
Only placed on the market earlier this month, Kuafu Properties is in contract to acquire the development assemblage spanning 143-161 East 60th Street, on the northern edge of Midtown East, for more than $300 million. A 280,000 square-foot residential building with a retail portion could be accommodated at the site, and rumor has it that condominiums are likely planned. Six low-rise buildings — the largest being 11 stories — currently occupy the site.
Exclusive Homes New York, LLC, has filed applications for a six-story, six-unit residential building at the vacant lot at 13 East 128th Street, in northern East Harlem, between 5th and Madison avenues. The building will measure 6,555 square feet, which works out to units measuring an average of nearly 1,100 square feet. Per Schedule A, each residence will have their own floor, and condos appear likely. Issac & Stern Architects is designing.
Cushman & Wakefield is marketing the three-story, 13,040 square-foot building at 217-219 West 21st Street, in Chelsea, between Seventh and Eighth Avenues. The property has 6,710 square feet of unused air rights, according to Commercial Observer, but a developer could also demolish the existing structure for a new building. Leases currently occupy parts of the building, but expire at the end of 2017.
Friedland Properties has landed a $182 million mortgage to finance their planned 14-story, 239-unit mixed-use building at 7 West 21st Street, a vacant, thru-block property in the Flatiron District. A number of units will be affordable, and 8,210 square feet of retail is planned on the ground floor. Morris Adjmi Architects is designing, and the project was approved by the LPC in 2013.
