Back in October of 2014, developers of the planned six-story, multi-use commercial building at 19 East Houston Street, in SoHo, met with city and community officials and agreed to limit the project’s retail space to under 10,000 square feet, as well as widen the sidewalk. That was after the City Planning Commission already approved the proposal with more retail in August of 2014. Last week, Madison Capital and Vornado Realty Trust closed on the purchase of the triangular, 6,174-square-foot development site for $25.8 million from the New York City Economic Development Corporation (NYCEDC), the Wall Street Journal reports. The latest building permits indicate a 98-foot-tall, 41,267-square-foot building is planned. The commercial space will be broken up between 11,500 square feet of retail space on the cellar through second levels, and 22,751 square feet of boutique office space on the third through sixth floors.
Madison Capital Realty
In December of 2014, YIMBY reported on applications for an eight-story, 141-unit mixed-use building at 504 Myrtle Avenue, in northern Clinton Hill, and then renderings were revealed of the project in 2015. Now, construction is underway on the second floor of the structure, according to the Myrtle Avenue Brooklyn Partnership. The new building will measure 113,898 square feet, of which 20,023 square feet of space on the ground floor will be used for retail. Twenty-eight of the apartments will rent at below-market rates through the housing lottery, and building’s amenities include a 95-car parking garage in the cellar, a fitness center, and an outdoor terrace on the second floor. Silverstone Property Group and Madison Capital Realty are the developers, and HTO Architects is behind the design. Completion can probably be expected in 2017.