Manhattan

444 Park Avenue South

Loan Recapitalizes 20-Story, 190-Key Hotel Project At 444 Park Avenue South, NoMad

12:30 pm on July 8, 2015 By Reid Wilson

Moin Development and SBE have received a $109 million loan for their planned SLS Hotel at 444 Park Avenue South, in NoMad, Commercial Observer reports. The former 14-story office building is being expanded to 20 stories and converted to 190 hotel rooms; multiple restaurants are also planned. Fortress Investment Group provided the loan, which recapitalizes and restructures existing debt. Completion is slated for Spring 2016.

150 1st Avenue

Expansion/Renovation Underway For Five-Story Community Center At 150 First Avenue, East Village

10:00 am on July 8, 2015 By Reid Wilson

The five-story, 43,220 square-foot building dubbed 122 Community Center, at 150 1st Avenue, in the East Village, is currently being renovated and expanded to 52,380 square feet. EV Grieve notes interior demolition is currently underway, and the building will house The AID Service Center NYC, Mabou Mines, Painting Spaces 122 and PS122 when completed in Spring 2016. The Department of Cultural Affairs owns the building, and Deborah Berke Partners is designing the overhaul.

185 Avenue B

Seven-Story, 41-Unit Rental Building Wraps Up At 185 Avenue B, East Village

2:00 pm on July 7, 2015 By Reid Wilson

Façade installation is nearing completion at the seven-story, 41-unit mixed-use building under construction at 185-193 Avenue B, in the East Village, according to EV Grieve. The Elim Pentecostal Church owns the property, and will have a 6,650 square-foot facility on the ground floor. The entire structure will measure 33,865 square feet, and units will average a rental-sized 665 square feet. Conrad Roncati’s Architectura is architect of record, and occupancy is slated for later this year.

144 West 125th Street

Studio Museum In Harlem Building New 70,000 Square-Foot Building At 144 West 125th Street

12:30 pm on July 7, 2015 By Reid Wilson

The Studio Museum at 144 West 125th Street in Harlem is planning to build a new 70,000 square-foot museum, including 10,000 square feet for galleries. According to The New York Times, the existing five-story, 60,000 square-foot structure would be demolished for a ground-up building designed by the UK-based David Adjaye; Cooper, Robertson & Partners is the executive architect. Plans will be submitted this Summer, and construction is expected to start in 2017 for a 2019 completion.

541 West 21st Street

Eight-Story Commercial Building At 541 West 21st Street Hits the Market

11:00 am on July 7, 2015 By Reid Wilson

The eight-story, 65,000 square-foot warehouse at 541 West 21st Street, in West Chelsea, has been placed on the market as a redevelopment site. The property could be worth more than $65 million, according to Crain’s Business. The commercial property is primed for a hotel or office conversion. Property owner Erno Bodek has tasked Meridian Investment Sales and Rosewood Realty Group with marketing the property.

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