Commercial

Commercial Conversion Possible for Six-Story, 84,650-Square-Foot Industrial Building at 780 East 135th Street, Port Morris

6:00 am on April 22, 2016 By Reid Wilson

Bluestone Group, Altmark Capital, and Princeton Holdings have acquired, for $14.1 million, the six-story, 84,650-square-foot industrial building at 780 East 135th Street, in Port Morris, located five blocks from the Cypress Avenue stop on the 6 train. The previous owner was using the building as a storage facility, although the property is being delivered vacant. The new owners are considering converting it into creative office space or artists’ lofts, according to Commercial Observer. The exact plans for the structure have not yet been finalized or official disclosed.

Fmr. Landmark Catering Hall to Become Self-Storage, Retail, Gas Station at 33 Route 17 South, East Rutherford

10:00 am on April 14, 2016 By Reid Wilson

Morristown, N.J.-based Hampshire Real Estate Companies has acquired the 3.2-acre property at 33 Route 17 South, in East Rutherford, located just west of the Meadowlands. The site is currently occupied by the former Landmark, a 225,000-square-foot, three-room catering facility that closed its doors 2013, and a 55,000-square-foot industrial building. Hampshire Cos. plans to redevelop the property into a 100,000-square-foot self-storage facility, a retail store, and a gas station, according to NorthJersey.com. It’s not known if the existing structures are going to be demolished, although it’s possible that they could be converted to fit the new program.

Renovations Underway on Two-Story, 22,000-Square-Foot Commercial Building at 44-16 23rd Street, Long Island City

2:00 pm on April 13, 2016 By Reid Wilson

In February, news broke that the two-story, 22,254-square-foot commercial building at 44-16 23rd Street, in the Court Square section of Long Island City, was going to be transformed into retail space. The Hakimian Organization, which is ground-leasing the property for 99 years from its property owner, is now conducting gut-renovations on it, The Court Square Blog reported. Plywood fencing currently surrounds the structure, which is will receive both interior and exterior upgrades. The windows on both the ground and second floors will be restored to their original sizes, after they were reduced in size following a previous alteration. JRT Realty, who is the leasing agent, is considering securing a restaurant, retailer, gym, an office tenant, or a mix of the those. Woodside-based Topos Design is the architect of record. Completion can probably be expected later this year.

Six-Story, 70-Unit Residential Conversion Continues at 160 Imlay Street, Red Hook

2:00 pm on April 11, 2016 By Reid Wilson

In September of 2014, renderings were revealed of the six-story, 70-unit residential conversion of the warehouse at 160 Imlay Street, in Red Hook. Construction has been underway since 2014 on the 224,809-square-foot structure, and now the Daily Brooklyn Eagle has the latest update on the progress. The 70-foot-tall structure has yet to receive its windows, but it appears installation may be imminent. The condos should average a spacious 2,648 square feet apiece, and will come in one-, two-, and three-bedroom layouts. Roughly 39,500 square feet of commercial space will be located on the ground and second floors, along with amenities like bike storage, private storage space, a fitness center, and a small parking garage. Est4te Four is the developer, AA Studio is the design architect, and Jeffrey Cole Architects is the architect of record. Completion is expected in the spring of 2017.

Amenities Revealed for Three-Story Office Conversion Planned at 30-02 48th Avenue, Long Island City

11:00 am on April 11, 2016 By Reid Wilson

Back in July of 2015, news broke that Brickman Real Estate and Daniel Loeb were planning to convert the three-story, 160,000-square-foot warehouse at 30-02 48th Avenue, in the Dutch Kills of Long Island City, into office space. DNAinfo now has updated details on the conversion. The building, which will retain its name as The Bindery, will get a 4,000-square-foot lobby featuring space for four food vendors and a communal work area, in addition to amenities like bike storage, a fitness center, a food court, an art exhibit, a cocktail bar, and a roof deck. Filings indicate 69,167 square feet of factory space, spread across all three floors, will remain in the building, while 72,269 square feet will be designated as commercial space. Gut-renovations are expected to begin within the next few weeks. Fogarty Finger is the architect of record.

Foundation Work Underway At 28-Story, 236-Unit Residential Tower, 1501 Voorhies Avenue, Sheepshead Bay

10:00 am on April 8, 2016 By Reid Wilson

Back in September of 2014, YIMBY reported on applications for a 28-story, 236-unit residential building at 1501 Voorhies Avenue, in southern Sheepshead Bay, located directly adjacent to the Sheepshead Bay stop on the B/Q trains. Now, Sheepshead Bites reports foundation work is well underway on what permits say will eventually be a 275,892-square-foot building. The residential units, which will be a mix of condominiums and rental apartments, should average a relatively spacious 1,169 square feet apiece. The tower’s lower portions will host 13,530 square feet of commercial space, and amenities include 124 parking spaces, many located in an underground garage, storage for 118 bikes, a fitness center, a pool and spa, and and common outdoor spaces. AvalonBay and Muss Development are the developers, and Perkins Eastman Architects is behind the design. Completion is expected in 2018.

First Look at Macy’s Five-Floor Renovation Planned at 422 Fulton Street, Downtown Brooklyn

6:30 am on April 8, 2016 By Reid Wilson

In August of 2015, news broke that Tishman Speyer was acquiring five stories of Macy’s nine-story commercial building at 422 Fulton Street, along with the parking garage at 11 Hoyt Street/217 Livingston Street, in Downtown Brooklyn, for $170 million. Macy’s is expected to consolidate their retail space into 278,000 square feet on the lower half of the building (basement through fourth floors). Speyer would then expand and convert the upper portion into 10 stories of office space. The Wall Street Journal now has the first glimpse of the renovations, which Speyer has agreed to fund (as part of the deal), that will go into Macy’s portion of the building. Macy’s and FRCH Design Worldwide are designing their space. Work is expected to begin imminently, and the renovation is expected to be complete in 2019. It was recently reported that Speyer would be utilizing the EB-5 program to raise roughly $60 million in financing.

Flank Acquires Mixed-Use Development Assemblage at 41-53 South 3rd Street, Williamsburg

1:00 pm on April 6, 2016 By Reid Wilson

Chelsea-based development and design firm Flank has closed on the purchase of the development assemblage at 41-53 South 3rd Street and 60 South 2nd Street, in Williamsburg, located two blocks in from the East River, for $36.2 million. The assemblage consists of a mix of single-story commercial-retail properties and vacant lots, according to The Real Deal. The plot could accommodate nearly 80,000 square feet of mixed-use development if the existing buildings are demolished. The developer is currently considering building a project with residential units, although plans won’t move forward until the existing tenants finish their respective leases, which expire between 2018 and 2023.

Reveal For Three-Story, 120,000-Square-Foot Retail Complex At 34-30 Steinway Street, Astoria

10:00 am on April 4, 2016 By Reid Wilson

An anonymous Financial District-based LLC has plans to redevelop an assemblage of single-story commercial buildings – located at 34-30 – 34-46 Steinway Street and 34-35 38th Street, in southern Astoria – into a three-story, 120,000-square-foot retail complex. Winick Realty Group is leasing the commercial space from the developer and is currently in negotiations with multiple potential tenants, including food markets, restaurants, and big-box stores,DNAinfo reported. The building will feature four levels of retail space and an underground parking garage. In November, the developer submitted pre-filings for a five-story, 29-unit mixed-use building that would have including retail, community facility space, and residential units. Those plans appear to have been replaced with the latest retail project, although filings have yet to be amended to resemble the current design. Completion of the redevelopment is expected in 2018.

Commercial-Office Conversion Complete on Three-Story Building At 160 Van Brunt Street, Red Hook

6:00 am on April 4, 2016 By Reid Wilson

Back in April of 2015, renderings were revealed of the planned commercial conversion of the Golten Marine building, a three-story, 98,650-square-foot former industrial property at 160 Van Brunt Street, in northern Red Hook. Since then, construction has been largely completed on the project and Tesla Motors was announced as the anchor tenant, as reported by Curbed NY earlier this year. Tesla is leasing 40,000-square feet on the ground floor, which it will use for dealership showrooms, offices, and a service center. The Brooklyn Paper also recently reported Tesla will install a reconstructed illuminating “Red Hook” sign on the ground floor. The building opened in March and contains additional yet-to-be-leased office space on the upper levels. LIVWRK is the developer and acquired the property for $21.5 million in 2014. New Jersey-based John Saracco Architects is the architect of record.

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