Manhattan

426 East 58th Street

Air Rights Assembled For 900’+ Condo Tower At 426 East 58th Street, Midtown East

Bauhouse Group has acquired 109,000 square feet of additional air rights for their development site spanning 426-432 East 58th Street, in Midtown East, for $37.9 million. The most recently released plans depict a 95-unit Foster + Partners-designed condominium tower, measuring 268,000 square feet and standing over 900 feet tall. The developer is moving forward with an as-of-right project, according to The Real Deal.


460 West 41st Street

Covenant House Planning New Facility, Affordable Housing At 460 West 41st Street, Midtown West

The Covenant House, a facility that caters to homeless youth, is planning to redevelop the small block at 460 West 41st Street, in Hell’s Kitchen, replacing their current eight-story facility, a vacant six-story building, and an undeveloped lot. DNAinfo reports the new building will house Covenant’s new national headquarters facility, in additional to a large residential portion that’s 40% affordable and includes 100 units of supportive housing.


55 Gransevoort Street

Five-Story Building At 55 Gansevoort Street To Be Converted Into 14-Key Hotel, Meatpacking District

Restoration Hardware is planning to convert the five-story, 25,000 square-foot building at 55 Gansevoort Street, in the Meatpacking District, into a 14-key boutique hotel. According to Crain’s, the ground floor of the building will feature a restaurant. Delshah Capital owns the five-story building, but Restoration Hardware — whose flagship store is located around the corner of 9th Avenue — has leased the entire property.



45 Broad Street

Madison Equities In Contract For Development Site At 45 Broad Street, Financial District

In January of 2014, YIMBY brought you news that 45 Broad Street, in the Financial District, was placed on the market. Now the property is in contract, and Madison Equities, partnering with AMS Acquisitions, is the buyer. The price — expected to be north of $100 million — has not been disclosed. The site has 265,000 square feet of development rights, and a 62-story Nobu Hotel was planned prior to the 2008 financial crisis.


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