Commercial

One Penn Plaza as seen from the southwest. Photo by Evan Bindelglass.

One Penn Plaza, Two Penn Plaza To Get Major Renovations, Interconnection, Midtown

10:00 am on February 18, 2016 By Reid Wilson

Following the state’s plan to upgrade and expand Pennsylvania Station, Vornado Realty Trust has announced plans to renovate and interconnect 57-story One Penn Plaza and 29-story Two Penn Plaza, completed in 1972 and 1968 respectively, into a massive 4.2-million-square-foot office complex. The two buildings are located directly adjacent to and above Penn Station, in Midtown, between West 31st and 34th streets and Seventh and Eighth avenues. According to The Real Deal, the renovation project would improve desirability and tenant mobility and allow for new retail and amenity opportunities. Two Penn Plaza would get a new floor-to-ceiling glass façade and One Penn Plaza would receive “a more conventional upgrade.” Start and completion dates have not been disclosed, and a designer has not yet been revealed.

430 Johnson Avenue

Four-Story Multi-Use Commercial Building Revealed At 430 Johnson Avenue, East Williamsburg

3:00 pm on February 17, 2016 By Reid Wilson

Developer Astral Weeks is planning to build a four-story, 15,143 square-foot multi-use commercial building at 430 Johnson Avenue, in East Williamsburg, located three blocks from the Morgan Avenue stop on the L train. According to Brownstoner, the new building will feature 2,822 square feet in the cellar for retail or a restaurant, ground-floor parking that can be turned into an event space, and office space on floors two through four. VAMOS Architects is behind the design. New buildings applications have not been filed with the Department of Buildings, but the 50-foot-wide lot is currently vacant. Completion is expected in the beginning of 2017.

Allen Street pedestrian mall

Former Allen Street Bathroom Facility Could Be Converted To Food Concession, Lower East Side

1:00 pm on February 17, 2016 By Reid Wilson

The city is expecting to launch a Request for Proposals (RFP) this March to redevelop the long-vacant Allen Street pedestrian mall (public bathroom), located at Delancey Street on the Lower East Side, into a food concession facility. The Low-Down reports the city’s Parks Department is hoping a restaurant operator will lead renovation on the single-story structure, although already $2 million has been raised for the project. Other considerations for the building include community facility space, a library, a visitor’s center, or a return to the facility’s original use of bathrooms. The Lower Manhattan Development Corp. is also invested in the project.

3052 West 21st Street

Childs Building Renovation, Amphitheater Construction Underway At 3052 West 21st Street, Coney Island

11:00 am on February 17, 2016 By Reid Wilson

In the summer of 2015, iStar Financial and Coney Island USA received the green light to begin renovation work on the dilapidated three-story, 56,300 square-foot Childs Building, an individual landmark, at 3052 West 21st Street, on Coney Island. The building will be anchored by a restaurant but will also have community space and a rooftop terrace. An interconnected 5,000-seat amphitheater is also planned on the adjacent lot. The New York Times now reports construction is finally underway on both the Childs Building and the performance venue, and the amphitheater’s metal framework can be seen taking shape. The complex is expected to be complete later this year. The developer are leasing the land from the city through a 10-year contract.

787 Eleventh Avenue

Two-Story Expansion Filed For 464,000 Square-Foot Commercial Building At 787 Eleventh Avenue, Hell’s Kitchen

10:00 am on February 17, 2016 By Reid Wilson

Last July, Georgetown Company and Bill Ackman closed on the eight-story, 464,000 square-foot commercial building at 787 Eleventh Avenue, between West 54th and 55th streets in Hell’s Kitchen, for roughly $250 million. Now the property’s new owners have filed applications to expand the building by two stories or an additional 19,784 square feet. The roof will be raised by 60 feet (to 160 feet) and the latest filings indicate there will be 400,144 square feet of designated commercial space. The ground floor will contain retail space and automobile dealerships, floors two through five will contain automobile shops and services, and floors six through 10 will be office space. Per Curbed, Ackman’s Pershing Square Capital Management will be occupying the office space. Rafael Viñoly Architects is designing the project.

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