YIMBY reported on the initial applications filed in January of 2014 for a 33-story mixed-use building at 12-20 West 40th Street, on Bryant Park, and the project’s latest renderings surfaced last spring after multiple redesigns. Now, The New York Times has more details, stating the 33-story structure will contain roughly 230 hotel rooms from floors two through 15, and 57 condos beginning on the 16th floor. Retail space and a restaurant will operate on the ground floor. HFZ Capital Group is developing, while British architect David Chipperfield is designing, and sales are expected to begin this October, with completion scheduled for early 2017.
HFZ Capital Group
On the southern end of Williamsburg’s waterfront, a three-story commercial property at 484 Kent Avenue is about to hit the market as a development site, boasting 500,000 square feet of residential air rights. In 2011, the property was granted a zoning change to allow for three towers totaling 800 residential units, 30% of which would be affordable. Per Crain’s Business, HFZ Capital Group is interested in the property; the site is suspected to be valued north of $250 million.
Details are filtering in for HFZ Capital Group’s planned mixed-use development at 501 West 17th Street — aka 76 11th Avenue — in West Chelsea. Crain’s Business reports the developer plans 300 condominiums within the two 28- and 38-story towers, which will also integrate a new park space into the High Line. Bjarke Ingels Group is designing the 850,000-square foot project, which is expected to be delivered in 2018.
After obtaining $1 billion in financing, HFZ Capital Group has closed on the development site at 76 11th Avenue, or 518 West 18th Street, in West Chelsea. The lot comes remediated and vacant, and it’s one of the most expensive acquisitions in New York’s history, according to The Real Deal, clocking in at $1,100 per square-foot.