A U.S. subsidiary of Beijing-based China Oceanwide Holdings has made a deal with Howard Hughes Corp. to purchase the development site at 80 South Street, in the Financial District, for $390 million, according to Crain’s. Along with the five-story building at 80 South Street, the assemblage includes the 10-story building at 163 Front Street. The site boasts 820,000 square feet of development rights, with residential space allowed to span 440,000 square feet while the remainder designated for some form of commercial space.
YIMBY revealed the seven-story, 30-unit mixed-use building planned at 472 Atlantic Avenue (aka 465 Pacific Street) in Boerum Hill, late last year, and now developers Avery Hall Investments and ARIA Development Group have landed a $34.2 million construction loan, according to Crain’s. The team broke ground on the 85,000 square-foot condo project this week, which will include 15,000 square feet of ground-floor retail space, and completion is expected in early 2017. Morris Adjmi is the architect of record.
Bedrock exploration is now taking place at 200 Amsterdam Avenue, near 70th Street in Lincoln Square, according to West Side Rag. Earlier this year, the site — which has 388,000 square feet of development rights — was placed on the market with an asking price of more than $400 million. It’s unknown who exactly is behind the tests, as a developer and architect have not been disclosed. Demolition permits for the existing structure have not yet been filed.
Permits were filed and YIMBY revealed renderings last summer of G&M Realty’s planned 48- and 41-story, 1.2 million-square-foot mixed-use development at 22-44 Jackson Avenue, at the former site of 5 Pointz in Long Island City. Now, excavation is finally in full swing, The Court Square Blog reports. Thomas O’Hara’s HTO Architect is designing the 1,116-unit project, which also includes 39,765 square feet of ground-floor retail space. Completion is currently expected in the winter of 2017.
Work has begun on a seven-story, 17-unit mixed-use building at 49 Broadway, in Williamsburg, two blocks in from the East River, according to DNAinfo. Hess Management is developing the 17,207 square-foot building, which will feature 5,293 of commercial-retail space on the ground and second levels. A 352 square-foot doctors office is planned on the ground floor, and starting on the third floor, residential units averaging 680 square feet begin. Jeffrey Kamen is designing.