Demand for new retail and office space is rising across Brooklyn, from tony waterfront neighborhoods like Williamsburg to middle-class immigrant enclaves in the southern part of the borough. Down on Kings Highway in Sheepshead Bay, a five-story retail and office development is in the works.
Construction is now underway on the ground floor of 35 Hudson Yards, the 72-story, 1,046,332-square-foot mixed-use building under development at the corner of Eleventh Avenue and West 33rd Street in the Hudson Yards District. The construction progress can be seen thanks to photos posted to the YIMBY Forums. The 1,009-foot-tall tower will contain retail space on the ground, second, fourth, and fifth floors, followed by office space on the eighth through 13th floors, a 217-key Equinox hotel on the 15th through 29th floors, and 137 condominium units on the 31st through 70th floors. Equinox will move their global headquarters into the office portion and will open a 60,000-square-foot fitness club in the building. Related Companies and Oxford Properties Group are the developers, and Skidmore, Owings & Merrill is the architect. Completion is expected in 2019. The developers recently negotiated the project’s $2 billion capitalization, which includes $1.2 billion of debt, Real Estate Weekly reported.
Much of the Broadway Triangle in Williamsburg is frozen by a legal battle over discriminatory zoning, but developer Rabsky Group is pushing forward with their plan to develop two industrial properties in the area into seven large residential towers.
It was a little over a year ago that the Naftali Group’s mixed-use building at 210 West 77th Street, on the Upper West Side, was about to top out. Now, construction of the building is almost at the finish line.
A rendering has been revealed of the six-story, 10-unit mixed-use building planned at 501 Myrtle Avenue, located on the corner of Ryerson Street in Clinton Hill. The image was spotted on-site by the Myrtle Avenue Brooklyn Partnership. The latest building permits indicate the project, technically an expansion of the existing single-story building, will measure 13,088 square feet. It will include 1,882 square feet of commercial-retail space on the ground and cellar levels. The residential units above should average 690 square feet apiece, indicative of rental apartments. Amenities include storage for five bikes, a “recreation room” on the second floor, a rooftop terrace. The developer is operating as an anonymous LLC and Raymond Chan’s Flushing-based architectural firm is designing.