Midtown Equities has tasked Cushman & Wakefield to market the development site at 205 Montague Street, in Downtown Brooklyn, for more than $200 million, according to Crain’s. The property boasts 300,000 square feet of development rights, and the developer has drafted plans for a 44-story residential tower as well as a 62-story version. A relatively small portion of commercial space is included in the base of the tower, where a five-story office and retail building currently sits. Midtown Equities acquired the site for $33 million in 2010.
Fortis Property Group is proposing to build an as-of-right 260,000 square-foot student dormitory on the corner of Henry and Amity Streets, in Cobble Hill, according to Politico. The developer acquired the Long Island College Hospital complex from SUNY for $240 million, and is currently seeking a rezoning for the property, which would include senior housing, park space, and a public school. Fortis has also drafted plans for an as-of-right 35-story residential tower in addition to the dormitory, which would have hundreds of beds. Fortis’ plans for a five-story medical facility and eight townhouses have already been filed with the DOB.
Over the summer, Silverstein Properties began demolishing the low-rise commercial building at 520 West 41st Street/514 Eleventh Avenue, in Midtown West, to make way for a 1,400-unit mixed-use development. Now, the developer has tasked CBRE to market and sell the property, which could potentially be worth close to $500 million, according to Crain’s. The project is currently being processed through ULURP, as a rezoning is required, and Silverstein eventually agreed to allot 375,000 square feet for affordable housing. YIMBY revealed the original proposal in July of 2014.
Earlier this year, YIMBY revealed renderings of Extell Development’s 30-story, 83-unit mixed-use building planned at 200 East 95th Street/1681 Third Avenue, on the Upper East Side, and now foundation work is underway, according to DNAinfo. The building is being dubbed The Kent, and its 83 units will be condominiums spanning two- to five-bedrooms apiece. Ground-floor retail space will also measure 14,000 square feet, and Beyer Blinder Belle is the architect of record. Completion is expected in the second half of 2017.
Back in June, Kuafu Properties was in contract to purchase the assemblage spanning 143-161 East 60th Street, on the northern edge of Midtown East, and now the Chinese developer has closed on the acquisition, according to Commercial Observer. The site has a nearly 20,000 square-foot footprint, and roughly 280,000 square feet of development potential. Kuafu plans to build a luxury residential tower with a large retail base, although the existing six low-rise buildings must first be demolished.