Great Neck-based Mayflower Business Group has acquired the two five-story tenement buildings at 317-319 West 35th Street, in the Garment District section of Midtown, for $28 million. The new owner is planning to demolish the existing buildings and construct a new building, according to The Real Deal. The 4,937-square-foot site could accommodate 49,370 square feet of development rights, although Mayflower has the option to purchase an additional 10,000 square feet of air rights from the city. A residential building, a hotel, an office building, or a mixed-use project could be built at the site. Demolition permits were filed in March. Combined, the buildings contain 24 rental apartments and four commercial-retail units.
YIMBY last brought you a construction update in December, when foundation work was underway, on the 62-story, 426-unit mixed-use tower planned at 242 West 53rd Street (a.k.a. 239 West 52nd Street), in Midtown between Eighth Avenue and Broadway. Since then, foundation work has largely wrapped up, as seen in photos by Vertical Gotham via the YIMBY Forums, which means construction can now proceed skyward. Residential units in the 542,276-square-foot, 675-foot-tall tower should average 1,024 square feet apiece. There will also be 16,514 square feet of ground floor retail space. Amenities will include a 90-car parking garage, storage space for 247 bikes, a fitness center, a swimming pool, a basketball court, a golf simulator, and a private entertainment area. There will also be outdoor terraces on the second, third, and 61st floors. Algin Management is the developer, while CetraRuddy is behind the design of the exteriors and interiors.
Brooklyn-based GY Properties has filed applications for twin three-story, two-family mixed-use buildings at 2349-2353 Coney Island Avenue, in Sheepshead Bay, located six blocks from the Avenue U stop on the Q train. From north to south, they will measure 6,439 and 6,498 square feet respectively. The ground floors in each structure will host 1,901 and 1,925 square feet of retail space. Across both buildings, the project’s four full-floor residential units should average 1,304 square feet apiece, indicative of condominiums. Danny Isla’s Long Island-based Isla Engineering Service Company is the applicant of record. The 40-foot-wide plot is currently vacant.
Midtown South-based Mike Shamash has filed applications for a seven-story, eight-unit mixed-use building at 1010 Fulton Street, in southern Clinton Hill, located two blocks from the Franklin Avenue stop on the C train and Franklin Avenue Shuttle. The structure will encompass 11,000 square feet, of which 1,665 square feet will be designated to ground-floor retail. Beginning on the second floor, the residential units should average 815 square feet, which means rental apartments are likely in the works. Three of the apartments will be duplexes. Long Island-based Shahriar Afshari is the applicant of record. The 20.5-foot-wide, 2,091-square-foot lot is currently vacant.
Springhouse Partners has acquired, for $55 million, the six-story, 56-unit mixed-use building at 51 Irving Place, located on the corner of East 17th Street in Gramercy. The 42,502-square-foot property contains about 10,000 square feet of commercial space, which is currently split between five retail units and a single office unit. The residential units above are rental apartments, most of which are market-rate. The new owners plan to conduct renovations, according to The Real Deal. Work will include upgrades to the façade and interiors, and the addition of residential amenities. The apartments will remain as rentals. The property could also accommodate a small expansion, as it contains 5,000 square feet of air rights, although such plans to build an expansion are not known. Springhouse Partners recently secured a $37 million mortgage to finance the acquisition.