Commercial

425 Hoyt Street

Three-Story, 17,301-Square-Foot Commercial Conversion Planned At 425 Hoyt Street, Gowanus

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

Developer Peter Moore has recently filed applications to turn the former two-story, 15,342-square-foot industrial building at 425 Hoyt Street, in Gowanus, into a three-story, multi-use commercial building. Filings indicate the structure will be expanded by 3,956 square feet and will eventually boast 17,301 square feet of commercial space. DNAinfo reports the ground floor will most likely be leased as office space, although the Schedule A says it could also be retail space. The second and third floors would host private art galleries to showcase and/or store artwork. The developer is banking on plans to clean up and build a park along the Gowanus Canal that would hopefully make the area more attractive. Chinatown-based Jung Wor Chin is the architect of record.

Chappaqua Crossings

Developers Break Ground On Chappaqua Crossing Mixed-Use Development In Northern Westchester

3:00 pm on March 3, 2016 By Reid Wilson

Following 11 years in the planning and approval process, Summit Development and Greenfield Partners broke ground earlier this week on the retail portion of Chappaqua Crossing. The project is an expansive mixed-use development located on the former Reader’s Digest office campus at 480 Bedford Road, in Chappaqua, a northern Westchester County hamlet in the Town of New Castle. The retail portion includes the build-out of 120,000 square feet of commercial space, including a 40,000 square-foot Whole Foods, a Life Time gym, and other shops and restaurants. The Grossman Companies is partnered in the retail portion and the supermarket is expected to open in 2017.

Times Square Theater, 2014. Via Google Maps.

Event Planner Leases Long-Vacant Times Square Theater At 217 West 42nd Street, Midtown

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

The long-vacant Times Square Theater, located at 217 West 42nd Street, between Seventh and Eighth avenues in Midtown, may have another chance to be used, according to the New York Post. Singapore-based Oracle Projects International, which produces and designs events, has reportedly leased the property. The former theater is overseen by the state’s Historic Preservation Committee as well as New 42nd St, a nonprofit that leases the theater (and five others) in a 99-year lease. In recent years, the building was leased twice with different reuse projects in mind, but both failed to come to fruition. The latest plan would likely include, at the very least, minor alterations to, or a restoration of, the existing building. The building’s interior and exterior were on the Landmarks Preservation Commission’s backlog, but were removed from the calendar without prejudice last month.

Two Gotham Center

Tishman Speyer Planning Two Office Towers At 28-10 Queens Plaza South, Long Island City

11:00 am on March 2, 2016 By Reid Wilson

Tishman Speyer is now working to develop two more office towers on the same block as Two Gotham Center, the 22-story office building the developer built in 2011 at 42-09 28th Street, in Long Island City’s Queens Plaza section. According to The Real Deal, one of the buildings, dubbed One Gotham Center, will be a 29-story, 583,000-square-foot property with 20,000 square feet of retail space. It will include 200 parking spaces. Last year, WeWork signed a lease for 200,000 square feet of space in it. The second building, dubbed Three Gotham Center, will be a 30-story, 515,000-square-foot property with 11,000 square feet of retail space. WeWork has already leased 258,000 square feet of space in Three Gotham Center, according to EB-5 documents. The developer hopes to accumulate $145 million in financing from the EB-5 program. A targeted completion date has not given.

Fetching more...