Commercial

New Owners Plan Partial Office Conversion at Six-Story, 225,000-Square-Foot Industrial Property, 43-01 22nd Street, Long Island City

4:00 pm on August 3, 2016 By Reid Wilson

Back in May, Olmstead Properties and Newmark Holdings entered into contract to purchase the six-story, 225,000-square-foot manufacturing building at 43-01 22nd Street, located on the corners of 43rd and 44th avenues in the heart of Long Island City. The duo have now closed on the purchase for $61 million, Commercial Observer reported. They plan to convert the structure into office space, although roughly two-thirds of the property is currently leased to Reis Studios. The vacant portions are expected to be converted soon, but it’s not known when the currently leased space will get the conversion. Upgrades to the building will include a redesigned lobby, new windows and façade elements, and new mechanical infrastructure such as elevators.

Two-Story, 5,000-Square-Foot Office-Warehouse Coming to 147 11th Street, Gowanus

3:00 pm on August 2, 2016 By Reid Wilson

Brooklyn-based McMahon Construction has filed applications for a two-story, 5,000-square-foot commercial building at 147 11th Street, in southern Gowanus. The ground floor will host a warehouse, followed by office space on the second floor and an upper penthouse level. Scott Schnall’s Brooklyn-based consulting firm is the applicant of record. The 25-foot-wide, 2,500-square-foot property is currently occupied by a two-story, single-family house. Demolition permits were filed in December. The site is located three blocks from the Fourth Avenue/Ninth Street stop on the F, G, and R trains.

Four-Story, 60,000-Square-Foot Factory Converted Into Retail-Office Property at 47-16 Austell Place, Long island City

10:00 am on July 29, 2016 By Reid Wilson

The four-story, 60,000-square-foot industrial building at 47-16 Austell Place, in southern Long Island City, has recently been converted for a variety of commercial uses, according to Commercial Observer. It hosts 10,000 square feet of ground floor retail space, of which a food café has already leased a portion. The floors above, with floor plates of 16,000 square feet, are geared towards office tenants and community facility uses. Joffrey Ballet Center, a dance school, has leased the fourth floor. Upgrades made to the building include renovations to the interior, a new roof, a revitalized façade with new windows, and a redesigned lobby. A rooftop lounge with landscaping is also being built and is expected to be complete in early 2017. The Vanbarton Group, which purchased the property for $7.7 million in 2015, is the developer. Montroy Andersen DeMarco is the architect.

Rendering of renovated 59 Bleecker Street

Landmarks Approves Commercial Renovation at 59 Bleecker Street, NoHo

8:00 am on July 29, 2016 By Evan Bindelglass

A one-story commercial building in the NoHo Historic District will be getting a full-scale renovation. On Tuesday, the Landmarks Preservation Commission approved a proposal to update 59 Bleecker Street.

12-Story, Six-Unit Mixed-Use Building Tops Out at 239 Tenth Avenue, West Chelsea

4:00 pm on July 28, 2016 By Reid Wilson

By the end of June, the 12-story, six-unit mixed-use building under development at 239 Tenth Avenue, on the corner of West 24th Street in West Chelsea, was had been built up to the fourth floor. The project has since topped out, according to a Curbed NY report. The new 54,662-square-foot, 137-foot-tall building, dubbed The Getty, will include 13,437 square feet of commercial space on the cellar through second floors. There will be eight condominium units on the floors above. They should average 4,674 square feet apiece, and three of them will be duplexes. Amenities include private residential storage units and a fitness center. The penthouse apartment will feature a roof terrace. Victor Group and SHVO (headed by Michael Shvo) are the developers, and Peter Marino Architect is designing. Completion is expected in 2017.

New Look at Four-Story, 9,000-Square-Foot ABC No Rio Arts Facility, 156 Rivington Street, Lower East Side

6:00 am on July 28, 2016 By Reid Wilson

A schematic drawing of the long-planned, four-story, 9,000-square-foot commercial building at 156 Rivington Street, on the Lower East Side, has surfaced in a Bowery Boogie report. The structure, which will be built to Passive House standards, will contain a mix of community, performance, and office spaces across the cellar through the fourth floors. There will also be outdoor terraces on the second floor and rooftop level. Renderings of the building’s exterior were previously revealed in 2014. Paul A. Castrucci Architect is behind the design. ABC No Rio will operate the new property, although the art organization must first demolish their existing four-story building on the site. Demolition permits were recently filed and new building applications were approved in 2011. The project has been financed through private donations and city grants. A construction timeline hasn’t been released.

New Owners Plan Commercial-Office Renovation at Seven-Story Property, 24-02 49th Avenue, Long Island City

11:00 am on July 26, 2016 By Reid Wilson

Innovo Property Group and Westbrook Parters have acquired, for $195 million, the seven-story, 640,000-square-foot office-industrial building at 24-02 49th Avenue, in southern Long Island City. The purchase was financed with a $136 million mortgage, Commercial Observer reported. The building is nearly completely leased, with the New York City Housing Authority (NYCHA) occupying 480,000 square feet across five floors. The new owners plan to not renew NYCHA’s lease, which expires in 2020. The plan is to renovate the property to include modern and creative office space. The property is right across the street from the Hunters Point Avenue station on the 7 train and the Long Island Rail Road.

Five-Story, 76,000-Square-Foot Self-Storage Facility Filed at 163 6th Street, Gowanus

3:00 pm on July 25, 2016 By Reid Wilson

Following news that a 1,600-unit self-storage facility would be coming to 163 6th Street, in Gowanus, Storage Deluxe recently filed official applications for a five-story, 76,460-square-foot structure at the site. The facility, which will be operated by CubeSmart, will feature four loading berths, three off-street parking spaces, an accessory office component, and five floors of storage units. Virginia-based Butz • Wilbern, Ltd., is the applicant of record. The 125-foot-wide, 38,125-square-foot property is currently occupied by a metal salvage business. Demolition permits were filed to raze the business’s two-story office building and metal shed in May. The site is located five blocks from the Fourth Avenue/Ninth Street stop on the F, G, and R trains.

Two-Story, 38,000-Square-Foot Medical Research Building Planned at 59-25 Little Neck Parkway, Little Neck, Queens

11:00 am on July 25, 2016 By Reid Wilson

Northwell Health (formerly the North Shore-LIJ Health System) has filed applications for a two-story, 38,191-square-foot research building at 59-25 Little Neck Parkway, in Little Neck, Queens. The facility will feature a café and storage area/warehouse on the ground floor, followed by a business offices and laboratories on the second floor. Jeffrey Zutz’s NoMad-based Flad Architects is the architect of record. The 250-foot-wide, 56,000-square-foot property – bound by Little Neck Parkway, 59th Avenue, and 260th Street – is currently vacant. Until 2015, it was occupied by a two-story office building.

New York Islanders Look Into Building New Hockey Arena Next to Citi Field

6:30 am on July 25, 2016 By Reid Wilson

The owners of the New York Islanders – Scott Malkin and Jonathan Ledecky – have reportedly been in talks for the past few months with the owners of the New York Mets – Sterling Equities – to build a new hockey arena adjacent to Citi Field, in Willets Point, Queens. The New York Islanders aren’t fond of their current home at Barclays Center, in Brooklyn, after negotiations failed to address some issues with the venue, like poor ice quality and seats with obstructed views, Bloomberg reported. Oak View Group has been tasked with consulting duties. It’s unclear where the new hockey arena would go, but the likely location would be immeadiately to the west of Citi Field where a parking lot exists. The location would be easily accessible to the Mets-Willets Point Station on the 7 train and the Long Island Rail Road.

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