Soho Properties, MHP Real Estate Services and Hampshire Hotels Group have closed on the purchase of 19,772 square feet of air rights for their planned 29-story, 384-foot mixed-use commercial building at 560 7th Avenue, in Midtown (at 40th Street), according to Commercial Observer. A 238-key Dream Hotel is planned, which will also feature retail space on the ground & second floor, and restaurants on the third floor and cellar level. Stonehill & Taylor Architects is designing, and demolition of the existing six-story building is expected to commence by the end of this year.
Steve Zervoudis’ Galaxy General Contracting has filed applications for a three-story, five-unit mixed-use building at 573 Jackson Avenue, in Woodstock, a block from the Jackson Avenue 2/5 train stop in the Bronx. The building will measure 4,620 square feet in total, which includes the 440 square-foot commercial-retail unit on the ground floor. Market-rate residential units will measure 835 square feet each, and Georgios Georgopoulos is the architect of record.
Earlier this month, Fisher Brothers, Witkoff and New Valley secured financing for their 58-story, 157-unit condominium project at 111 Murray Street, in southern Tribeca, and now the team has broken ground on the building. The Kohn Pedersen Fox-designed tower is already over 40% sold, with interiors designed by MR Architecture + Décor. Completion is expected in early 2018.
In the spring of 2014, YIMBY reported that excavation was underway at 286 Ashland Place in Fort Greene, where a 32-story, 384-unit mixed-use building is planned. Over a year later, the building is now two stories above street level and rising, according to Brownstoner. The building will have 77 units set aside as lottery-allocated housing, and will feature 21,000 and 45,000 square feet of retail and culture space, respectively. Two Trees Management is developing, while TEN Arquitectos is designing. Ismael Leyva is the architect of record, and completion is slated for the second half of 2016.
In May, Brownstoner revealed the three-story buildings at 262-630 5th Avenue, in South Slope, would be redeveloped into a residential property. Now developers George Malafis and Ioannis Glyptis have filed applications to expand the building. Once complete, the building will stand six stories and have 28 residential units, each averaging 725 square feet. The building will measure a total 22,370 square feet, featuring 2,065 square feet of ground-floor retail. Thomas Winter is the architect of record, according to The Real Deal.