After entering into contract nearly a year ago, Extell Development has closed on the purchase of the single-story, 128,250-square-foot Gristedes grocery store at 350 East 86th Street, on the Upper East Side, for $93 million. The acquisition was funded with a $55 million mortgage, Commercial Observer reported. The developer also owns the neighboring four- and five-story tenement buildings at 1645-1651 First Avenue. Combined with the new acquisition, the 20,650-square-foot assemblage now supports 206,500 square feet of new mixed-use development up to 210 feet above street level. The developer is apparently planning a 20-story, 200-plus-unit condominium project at the site, although there aren’t many details on it. Demolition permits haven’t been filed for any of the Extell-owned properties, but Gristedes is expected to vacate the premises later this year.
There are only a few locations outside of Midtown and the Financial District that support supertall (or near supertall) development. The newest such location is the far Lower East Side, where Extell’s 252 South Street, also known as One Manhattan Square, is now rising. While several renderings of the project have been revealed, YIMBY now has a full video of the soon-to-be skyscraper and its impact on the Manhattan skyline, posted on the YIMBY Forums and also on Curbed.
YIMBY has chronicled the evolution of 217 West 57th Street, aka Nordstrom Tower and officially dubbed Central Park Tower, since it was clearing hurdles for the approval of its cantilever. Now that the building has begun rising, renderings from Extell have finally started leaking online, this time courtesy of EB-5 materials that surfaced on the YIMBY forums. The images show the tower is identical to renderings created in-house by YIMBY previously, and while they confirm the supertall has lost its spire, it will still become the tallest building by roof height on the continent, reaching 1,550 feet tall, and having a marketing floor count of 131.
Foundation work is well underway at the site of Extell Development’s seven-story, 160-unit mixed-use development at 500 East 14th Street and 524 East 14th Street, in the East Village. Rebar can now be seen sprouting from the ground, as seen in photos in a EV Grieve update. Once complete, a seven-story, 106-unit building, encompassing 181,713 square feet, will be situated on the corner of Avenue A. A seven-story, 54-unit mixed-use building, measuring 71,719 square feet, will stand down the street at 524 East 14th Street. Across both, there will be 45,407 square feet of commercial-retail space on the ground and cellar levels. The apartments above should average 1,215 square feet apiece, which suggests condominiums are in the works.
YIMBY last brought you an update on the 30-story, 83-unit mixed-use building under development at 200 East 95th Street, at the corner of Third Avenue on the Upper East Side, when rebar was rising from the foundation in March. Now, the structure is four stories above street level and quickly rising, as seen in a photo by Tectonic via the YIMBY Forums. The 317,664-square-foot tower, dubbed The Kent, will eventually stand 367 feet above street level. It will feature 13,225 square feet of retail space on the ground and cellar levels. The apartments, which will be condominiums ranging from two- to five-bedrooms, should average roughly 3,000 square feet apiece. A list of residential amenities can be found in our last report. Extell Development is the developer, while Beyer Blinder Belle is behind the design. Completion is expected sometime in 2017.