Work is now underway on the 17th floor of the 35-story, 612-key DoubleTree by Hilton hotel under development at 350 West 40th Street, in the Garment District of Midtown. The developer — Sam Chang’s Great Neck, N.Y.-based McSam Hotel Group — also secured a $215 million mortgage to refinance existing debt and fund construction, Commercial Observer reported. The latest building permits, which YIMBY first reported on in early 2014, indicate the 328-foot-tall project will measure 199,664 square feet. The hotel rooms should average a budget-sized 290 square feet apiece. Guest amenities include a fitness center, storage for 18 bikes, a restaurant on the ground floor, and a rooftop lounge & bar. Gene Kaufman’s SoHo-based architectural firm is behind the design. Completion is expected later this year.
The most prominent new development in the lower West 40s is obviously of the super-sized variety, with projects like 551 Tenth Avenue and 605 West 42nd Street now dominating the neighborhood. But there are a few smaller lots remaining that will host more modestly-sized buildings, and among those is 572 Eleventh Avenue, which used to house a diner. Now, YIMBY has the reveal for its replacement — which will span from 43rd all the way to 44th Street — designed by CetraRuddy, and under development by the Moinian Group.
S.W. Management has acquired, for $61.5 million, the 15-story, 121-unit residential building at 134 West 58th Street, in Midtown, Commercial Observer reported. The developer purchased the property from Extell Development, who previously filed applications at the site for a new 18-story, 41-unit residential building, as YIMBY reported late last year. It’s not known if the new owner will follow through with those plans. Building permits were granted in April to develop a 60,324-square-foot project. The residential units would have averaged 1,283 square feet apiece and amenities would have included storage for 21 bikes, private residential storage, a ‘recreation room” on the ground floor, and a rooftop recreational area. Issac & Stern Architects was the architect of record. Demolition permits haven’t been filed for the existing apartment building.
The former flagship Toys “R” Us store closed last December, leaving vacant the three-story, 160,000-square-foot building at 1530 Broadway, located between West 44th and 45th streets in Times Square. Since then, work has been underway to…
DNA Development has acquired, for $37.2 million, the seven-story parking garage at 12 West 48th Street, located mid-block between Fifth and Sixth avenues in Midtown. The developer is planning to build an unspecified amount of boutique retail space, Real Estate Weekly reported. The 7,531-square-foot property can accommodate up to 90,372 square feet of mixed-use development as-of-right and is zoned for residential, commercial, and community facility space. If the developer follows through with a solely commercial building, up to 75,310 square feet of space can be built. New building applications haven’t been filed, although demolition permits were submitted in June. Completion is expected in early 2018.