Commercial

Two-Story, 7,500-Square-Foot Multi-Use Commercial Building Filed at 13-19 37th Avenue, Long Island City

2:00 pm on June 7, 2016 By Reid Wilson

Property owner Pushpinder Verma has filed applications for a two-story, 7,500-square-foot multi-use commercial building at 13-19 37th Avenue, in the Ravenswood section of Long Island City. The project will feature retail on the ground floor and medical offices on the second floor. There will be 5,000 square feet of commercial space, which means each component of the building should average 2,500 square feet. Rajendra Parikh’s Hudson Square-based Metropolitan Building Consulting Group is the applicant of record. The 25-foot-wide, 2,500-square-foot lot, located on the corner of 14th Street, is currently vacant. The site’s last occupant, a single-story commercial structure was demolished back in 2005.

445-Key Hard Rock Hotel Under Development at 159 West 48th Street, Midtown

6:00 am on June 7, 2016 By Reid Wilson

Over the weekend, it was revealed, by the New York Post, that Extell Development is partnering with Hard Rock International to build a Hard Rock Hotel at 151-159 West 48th Street, located mid-block between Sixth and Seventh avenues, near Times Square in Midtown. Now, a rendering and additional details have been released in a Curbed NY report. The hotel tower will boast 445 rooms, a lobby lounge, a restaurant and bar, a rooftop lounge, and an underground speakeasy-style establishment. The hotel will also feature iconic music memorabilia, like many Hard Rock locations do. The 13,153-square-foot site is currently occupied by a seven-story parking garage and a five-story tenement building. Permits were filed to demolish the garage in February. The assemblage can accommodate 180,336 square feet of commercial development as-of-right. Additional air rights can be acquired elsewhere on the block and from around the district, as the site sits within the special Times Square zoning district.

Four-Story, 623,000-Square-Foot Commercial Complex Revealed, 280 Richards Street, Red Hook

11:00 am on June 3, 2016 By Reid Wilson

Back in 2005, Thor Equities acquired, for $40 million, the 7.7-acre Revere Sugar Refinery site at 280 Richards Street, located south of Beard Street in Red Hook. The developer later demolished the refinery (the last photos of it can be found here), and has since been floating the idea of building a massive mixed-use project with residential units and commercial space. The developer is now moving forward with plans for a four-story, 623,000-square-foot commercial complex, Bloomberg reported. It will include 600,000 square feet of office space and will boast 100,000-square-foot floor plates. The project will also feature 23,000 square feet of retail and restaurant space, presumably on the ground floor, along with a central courtyard, rooftop terraces, and a public waterfront esplanade. Norman Foster’s London-based Foster + Partners is designing. The site is located 12 blocks from the Smith-9th Streets stop on the F/G trains.

Development Team Closes on Deal with Port Authority to Rebuild LaGuardia Airport

6:30 am on June 3, 2016 By Reid Wilson

Back in March, the Port Authority of New York & New Jersey (PANYNJ) officially approved plans to rebuild LaGuardia Airport, in East Elmhurst, in addition to incorporating a 24-hour ferry service and an AirTrain to help transport travelers. Now, LaGuardia Gateway Partners – comprised of Vantage Airport Group, Skanska, and Meridiam – has closed on a deal with the Port Authority to actually construct the project, and to operate the new 1.3-million-square-foot airport through 2050, according to Crain’s. Demolition is expected to begin within the next few months on the five-story parking garage in front of the Central Terminal building. The Central Terminal will be the first portion to be redeveloped and is expected to be complete by 2021, followed by Terminals C and D. The development team, which is putting up $1.8 billion of its own money, has already secured $2.5 billion in financing. The Port Authority is responsible for an additional $2.2 billion that will go towards infrastructure work.

Jamestown Converting Basement of Chelsea Market Into Retail Corridor, Chelsea

2:00 pm on May 31, 2016 By Reid Wilson

Jamestown is planning to convert the basement level of Chelsea Market – a 1.2-million-square-foot, multi-use commercial complex located on the block bound by Ninth and Tenth avenues and West 15^th and 16^th streets, at 75 Ninth Avenue in southern Chelsea – into retail space. The conversion of the basement would double the retail space of the property to 80,000 square feet, according to Crain’s. The basement would be made into a single corridor similar to how the ground floor is currently configured with retailers. The project is expected to take five years. After the retail expansion, and pending an anchor tenant, the owners plan to vertically expand the complex’s office space by roughly 300,000 square feet. The office plans passed the city’s Uniform Land Use Review Procedure (ULURP) in 2012.

Commercial Conversion Planned at Three-Story, 67,000-Square-Foot Industrial Building, 1519 Decatur Street, Ridgewood

1:00 pm on May 26, 2016 By Reid Wilson

Hornig Capital Partners and The Brickman Group have acquired, for $10 million, the three-story, 67,236-square-foot industrial building at 1519 Decatur Street (a.k.a. 1085 Irving Avenue), in Ridgewood, located four blocks from the Halsey Street stop on the L train. The new owners plan to convert the property into modern commercial space, according to Real Estate Weekly. It’s not known what specific commercial tenants the building will be geared to, but the space will be flexibly divisible. The gut-renovation will cost roughly $6 million and financing has already been secured. The structure was built in 1929 and contains large floor plates.

City Revokes Building Permits for 32-Story, 521-Foot-Tall Condo Tower Under Construction at 180 East 88th Street, Upper East Side

6:30 am on May 26, 2016 By Reid Wilson

It was in September of 2015 when YIMBY last brought you news of the 32-story, 48-unit mixed-use tower under development at 180 East 88th Street, on the Upper East Side. At the time, we showed you what the view would be like from one of the upper-floor residential units. Since March, foundation work has been underway at the site, but the New York City Buildings Department recently issued a stop-work-order for the project due to a zoning controversy that allegedly allowed the developers to build a taller tower than normal, the New York Times reported. The Buildings Department says a four-foot-wide lot was created on East 88th Street to avoid streetwall and setback requirements, which allowed for the creation of a taller building. As a result, the department revoked the previously approved building permits and is requiring that DDG Partners submit new plans. The condominium tower was expected to be the tallest building above 72nd Street, at 521 feet in height. HTO Architect was the architect of record, although DDG designs their projects in-house.

Office Portion of 20-Story 685 Fifth Avenue Getting 90-Key Boutique Hotel Conversion & Expansion, Midtown

10:00 am on May 25, 2016 By Reid Wilson

In April, news broke that Istanbul-based Gulaylar Group entered into contract to acquire the entire 90,000-square-foot office portion of the 20-story, 115,000-square-foot multi-use commercial building at 685 Fifth Avenue, on the corner of East 54th Street in Midtown. The deal includes the development rights to vertically expand the building by five stories. Those air rights were made available after property owners General Growth Properties and Thor Equities repositioned the building’s three stories of retail space, which now measures 23,400 square feet and is being made into Coach’s flagship store. Now, Gulaylar has disclosed plans to convert the office portion they are buying, along with the future expansion, into a 90-key boutique hotel, The Real Deal Reports. Five hotel chains, including Oetker Collection, AccorHotels, and LVMH’s Cheval Blanc, are currently in negotiations with the developer. The building’s remaining office tenant is moving out in August. Walter Marin’s Midtown-based Marin Architects is the architect of record for the expansion.

City Launches Request for Proposals Seeking All-Affordable Mixed-Use Project at 1691 Madison Avenue, East Harlem

1:00 pm on May 24, 2016 By Reid Wilson

Mayor Bill de Blasio’s administration and the New York City Department of Housing Preservation and Development (HDP) have launched a Request for Proposals (RFP) for a 400-unit-plus, mixed-use development on the block bound by Park and Madison avenues and East 111th and 112th streets, in East Harlem. The request mandates the development to be entirely below market-rate and to have at least 400 rental apartments. In addition, all proposals must be of Passive House standards, according to Politico New York. The project will also include commercial and community facility components, and likely a public park space. The 76,500-square-foot development site currently consists of East Harlem Little League’s baseball field and four community gardens. It takes up the entire block, with the exception of the vacant lot at 91 East 111th Street and the four-story building at 1679 Madison Avenue. The baseball field and two of the community gardens will be relocated within the neighborhood. Since the project will be built on city-owned land, the selected proposal would have to be approved through the city’s ULURP process.

Developer Planning Two-Story Amusement Arcade Building at 825 Surf Avenue, Coney Island

4:00 pm on May 23, 2016 By Reid Wilson

Coney Island-based PYE Properties has filed applications for a two-story, 14,517-square-foot commercial building at 825 Surf Avenue, located on the corner of West 8th Street on Coney Island. According to the Schedule A, the 27-foot-tall building will house an amusement arcade, which will help to revitalize the disinvested and still Hurricane Sandy-damaged amusement park. Frank Martarella III’s Staten Island-based thinkDESIGN Architecture is the architect of record. The 15,369-square-foot lot has 213 feet of street frontage and is positioned right below the West 8th Street-New York Aquarium stop on the F/Q trains. PYE Properties acquired the vacant lot in 2015, according to Amusing The Zillion.

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