Forest Hills-based Platinum Realty has acquired the two-story commercial building at 115-06 Myrtle Avenue, located on the corner of 115th Street in Richmond Hill, for $3.7 million, Commercial Observer reported. The sale comes after the previous owners began marketing the site, which consists of four parcels, back in November of 2015. The site could accommodate a mixed-use project, with commercial and residential space, of up to 26,524 square feet, as-of-right. A new development could grow to 70,000 square feet if it includes affordable residential units and benefits from the inclusionary housing zoning bonus. The new owner’s plans have not been disclosed. All of the parcels are vacant or have been vacated.
Developer Samy Mahfar has withdrawn an application to rezone a stretch of East Houston Street, on the Lower East Side, which would have introduced a commercial overlay for the targeted area, allowing for commercial-retail space to be built at street level, the Lo-Down reported. That means Mahfar’s planned 13-story, 63-unit mixed-use project at 255 East Houston Street won’t have ground-floor retail space. Instead, the developer plans to move forward with an as-of-right project featuring leasable community facility space. It’s unclear if withdrawing from the city’s Uniform Land Use Review Procedure (ULURP) changes the residential portion in any way. Twenty percent of the apartments (13 units) were set to be rented at below-market rates through the affordable housing lottery. Filings at the Buildings Department haven’t been amended since plans were first filed for a 10-story, 53-unit structure. The Stephen B. Jacobs Group is the architect. Demolition has commenced on the existing four-story building.
Congregation Shaare Zedek has partnered with developer Ornstein Leyton Company for a mixed-use project on the site of the congregation’s three-story synagogue at 212 West 93rd Street, on the Upper West Side. The congregation is having financial troubles and has concluded the only way to prevent it from dissolving is to sell the property to a developer, DNAinfo reported. Preliminary plans call for a 14-story building that would contain a new synagogue on the lower three floors, followed by residential units on the upper floors. No new building applications have been filed with the Buildings Department. The congregation has stated that it’s not feasible to expand the existing structure or retain the façade for a new building. The synagogue is not landmarked and can be demolished as-of-right.
Construction has reached the fifth floor on the 12-story, 125-unit mixed-use project under development at 445 West 35th Street, in the Hudson Yards District. The construction progress can be seen thanks to photos posted to the YIMBY Forums. The latest building permits indicate the structure will eventual measure 121,859 square feet and rise 120 feet above street level, not including the bulkhead. There will be 4,920 square feet of ground-floor retail space, in addition to 1,188 square feet of community facility space in the cellar. The residential units above should average 740 square feet apiece, indicative of rental apartments. Gowanus-based Workshop Design + Architecture is the design architect and Aufgang Architects is the executive architect. YYY Development & Construction is the developer. It is also building the similarly designed 12-story, 186-unit project across Dyer Avenue at 411 West 35th Street. Completion of both is expected in 2017.
CW Realty Management has entered into contract to acquire, for $45 million, the development assemblage at 187-201 Kent Avenue and 48-50 North 3rd Street, located three blocks in from the East River in northern Williamsburg. The plan is for a 140,000-square-foot mixed-use building with retail space and rental apartments, The Real Deal reported. Retail will be located on the ground and cellar levels, and there will also be a parking garage. The number of units is unknown at this time. The 23,150-square-foot assemblage is currently occupied by one- and two-story warehouses, one of which is currently used as event space. Demolition permits haven’t been filed.