New renderings have been exclusively revealed to YIMBY for the transformation of 165 Mercer Street, in SoHo. The historic building was constructed between 1870 and 1871 under design by Henry Fernbach, and faithfully served the city as a parking garage since 1921. However, as we reported in September of 2016, the Landmarks Preservation Commission approved changes for the site to undergo a conversion to office and retail use, which will be accompanied by a new penthouse level, as well.
Financing has been secured for a new eleven-story conversion at 25-11 49th Avenue, in Long Island City, Queens. The site was sold to Normandy Real Estate Partners and Keystone Equities in September 2016 for $39.1 million, at over $200 per buildable square foot. The rendering reveals their plan is to refurbish the existing two-story facility, build up eight stories along half the extant area, while using the other half of the roof for green space.
YIMBY has noticed all kinds of interesting conversions in the industrial area between Morgan Avenue and Jefferson Avenue in Buswhick, where restrictive zoning and rising rents have led landlords to consider transforming old warehouses into night clubs and artist studios. But today we spotted unusual plans for a theater conversion at 383 Troutman Street, in the part of the neighborhood defined by its colorful street art and a growing stretch of bars and restaurants.
Last fall, Chinese developer Cheerland Investments paid a whopping $129 million for the United Charities office building at 287 Park Avenue South, a nine-story Renaissance Revival structure built in 1892. An insider told the Wall Street Journal that it would be converted to condos, and earlier this week, permits were filed for a residential conversion that would add nine stories to the top.
A condo conversion and a new 12-story rental building are slowly taking shape at two former Jehovah’s Witnesses properties in Dumbo. Two years ago, Landmarks approved plans to convert an old Brillo factory at 200 Water Street into 15 condos, which will include two-, three- and four-bedrooms with terraces.