After Chetrit Group landed a $60 million acquisition and pre-development loan for their development site spanning 541-545 West 37th Street, in Midtown West, the developer is planning to move forward with their plans, which YIMBY reported on nearly a year ago. The site boasts 373,000 square feet of building potential, and conceptualized as a 50-story mixed-use tower featuring 100 residential units and 350 hotel rooms. Two three-story buildings must first be demolished.
In March, YIMBY revealed renderings of the four-building, 223-unit condominium redevelopment of Cabrini Medical Center, in Gramercy. Now, developers Chetrit Group and Clipper Equity have closed on a $345.5 million loan for the project, according to Commercial Observer. Dubbed Gramercy Square, three medical buildings will be converted, and a fourth building will be constructed ground-up. Also planned is a 25,000 square-foot court yard, designed by M. Paul Friedberg and Partners; Woods Bagot is the project’s design architect. Completion is expected in 2016.
Earlier this year, Chetrit Group and Somerset Partners purchased two Bronx waterfront development sites at 2401 3rd Avenue and 101 Lincoln Avenue, in Port Morris, surrounding both sides of the Third Avenue Bridge, and now Curbed has the details for their project. The developers plan two 25-story towers totaling 1,600 residential units, across 1.3 million square feet, and retail space will span the first two floors. The site is currently occupied by warehouses.
Chetrit’s long-planned hotel-retail-apartment complex is finally taking shape at 500 Metropolitan Avenue in Williamsburg, and YIMBY has a look inside the gigantic site thanks to reader Sebastian Findlay.
Yesterday YIMBY revealed a major redevelopment for Mary Immaculate Hospital in Queens, and today we have the reveal for another hospital conversion project, this time for the old Cabrini Medical Center, which spans 224-228 East 20th…