The Lightstone Group has acquired the six-story, 40-unit rental building at 40 East End Avenue, in Yorkville, for $34 million, and plans to demolish the building for a condominium project. According to Commercial Observer, the new building will stand 18 stories and have 30 condo units, although applications have yet to be filed with the DOB; Deborah Berke Partners is designing.
Prodigy Network has filed applications to convert and expand the existing 15-story, 104,500 square-foot commercial building at 17 John Street, in the Financial District, to a 23-story, 194-key extended-stay hotel; office and retail space is also planned. The expanded building will measure roughly 149,600 square feet, and Woods Bagot is designing, while Mancini Duffy is serving as the architect of record. The existing building was acquired for $85 million in 2014, according to The Real Deal.
Construction is underway to convert the vacant four-story, 7,175 square-foot building at 120 East 125th Street, in northern East Harlem, into a community facility. The Caribbean Center Cultural African Diaspora Institute is moving into the building and leading the $3.5 million conversion. According to Harlem+Bespoke, the interior has been gutted, and completion is expected later this year.
YIMBY noted construction beginning in January 2014 at 11 East 31st Street, in Midtown South, where Simone Development Group is developing a mid-rise boutique hotel, with partners KSNY and Geolo Capital. The building is near topping out and has begun to receive its façade, according to A Fine Blog. Dubbed the Tommie Hotel, the tower is now expected to stand 30 stories, accommodating 120 hotel units across 108,120 square feet. Gwathmey Siegel Kaufman Architects is designing, and completion is expected in 2016.
United Realty has proposed a 10-story, 45,413 square-foot mausoleum at the vacant lot 1532 Madison Avenue, in southern East Harlem. The developer is looking for investors to fund the acquisition of the property, which is on the market for $15 million. The entire project would cost roughly $60 million and would include at least 2,900 crypts and 5,200 niches, according to Investment News.
