Brief

525 Broadway

100-Unit Mixed-Use Project Planned At 525 Broadway, Williamsburg

6:00 am on August 21, 2015 By Reid Wilson

Blesso Properties has acquired the former Lincoln Savings Bank building and the 13,000 square-foot parking lot at 525-545 Broadway, in southern Williamsburg, for $32.8 million; the site was placed on the market a year ago. According to Curbed, the assemblage includes 190,000 square feet of development rights, and a mixed-use building, with 100 rental units and a 15,000 square-foot roof deck is planned for the vacant lot. The existing 60,300 square-foot bank building will also be redeveloped, and the project is located right beneath the J and M trains’ Lorimer Street stop.

34 East 62nd Street

Developer Acquires Vacant Property At 34 East 62nd Street, Upper East Side

4:00 pm on August 20, 2015 By Reid Wilson

Rye, NY-based Woodbine Company has purchased the development site at 34 East 62nd Street, on the Upper East Side, for $11.9 million from Russian developer Janna Bullock. Back in 2007, she filed permits for a five-story townhouse, but plans stalled out. The vacant property has 8,000 square feet of development rights, but can be expanded by 6,000 square feet with the purchase of additional air rights. No new building applications have been filed.

16 Bay 25th Street

Six-Story, 10-Unit Mixed-Use Building Filed At 16 Bay 25th Street, Bath Beach

3:00 pm on August 20, 2015 By Reid Wilson

Tai W. Liu, head of an anonymous LLC, has filed applications for a six-story, 10-unit mixed-use building at 16 Bay 25th Street, in Bath Beach, right around the corner to the D train’s stop at 20th Avenue. The building will measure 16,376 square feet in total, and will feature 2,115 square feet of retail space on the basement level, in addition to 3,638 square feet for a day care on the first floor. Residential units above will average 1,062 square feet, and Chinatown-based H2 Consulting is the applicant of record. Demolition permits were filed for the existing two-story, two-unit building in July.

1346 46th Street

Four-Story, Six-Unit Residential Building Coming To 1346 46th Street, Borough Park

2:00 pm on August 20, 2015 By Reid Wilson

Nathan Lenchevsky has filed applications for a four-story, six-unit residential building at 1346 46th Street, in central Borough Park, four blocks from the D train’s stop at 50th Street. The building will measure 8,813 square feet, making for a specious average units of 1,470 square feet apiece. Rockland County-based Kenneth Thomas is the applicant of record, and an existing three-story home must first be demolished.

40 Rector Street

26-Story, 169-Unit Mixed-Use Project At 40 Rector Street Lands Financing, Newark

12:30 pm on August 20, 2015 By Reid Wilson

Following the approval of a 30-year tax abatement and a false ground-breaking in 2013, Boraie Development is now expecting to begin construction on a 26-story, 169-market-rate-unit mixed-use building at 40 Rector Street, in downtown Newark, a few blocks north of Penn Station. The existing six-story building will expand, and 8,500 square feet of retail will be located in the base. According to NJ Advance Media, Goldman Sachs is financing the majority of the project, dubbed One Riverview, and permits are currently be acquired to begin construction.

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