Manhattan

112 Bowery

Four-Story Property At 112 Bowery Getting Full Commercial Conversion, Chinatown

An anonymous LLC’s four-story townhouse at 112 Bowery, in Chinatown, is now receiving a small expansion to 7,300 square feet, according to Bowery Boogie. The building is being converted into an entirely commercial property, with retail space on the ground floor and office/storage space on the upper levels. Zhu Heng Zheng’s Interamericana Engineering is the applicant of record, and completion is likely by 2016.


209-225 East 19th Street

Cabrini Medical Center Redevelopment Lands $345.5 Million Loan, Gramercy

In March, YIMBY revealed renderings of the four-building, 223-unit condominium redevelopment of Cabrini Medical Center, in Gramercy. Now, developers Chetrit Group and Clipper Equity have closed on a $345.5 million loan for the project, according to Commercial Observer. Dubbed Gramercy Square, three medical buildings will be converted, and a fourth building will be constructed ground-up. Also planned is a 25,000 square-foot court yard, designed by M. Paul Friedberg and Partners; Woods Bagot is the project’s design architect. Completion is expected in 2016.



10 West 17th Street

16-Story, 16-Unit Condo Project At 10 West 17th Street Lands Financing, Flatiron District

In October 2014, YIMBY reported on permits filed for a 16-story, 16-unit condominium building at 10 West 17th Street, in the Flatiron District, and then the LPC approved the plans the following December. Now Bhatia Development and Sherwood Equities have landed $48 million in financing from CIT, according to Commercial Observer. An existing three-story building must first be demolished, but construction is expected to begun early in 2016 for a mid-2017 completion. Beyer Blinder Belle is designing.


560 7th Avenue

Air Rights Assembled For 29-Story, 238-Key Hotel At 560 7th Avenue, Midtown

Soho Properties, MHP Real Estate Services and Hampshire Hotels Group have closed on the purchase of 19,772 square feet of air rights for their planned 29-story, 384-foot mixed-use commercial building at 560 7th Avenue, in Midtown (at 40th Street), according to Commercial Observer. A 238-key Dream Hotel is planned, which will also feature retail space on the ground & second floor, and restaurants on the third floor and cellar level. Stonehill & Taylor Architects is designing, and demolition of the existing six-story building is expected to commence by the end of this year.


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