After a decade of new towers sprouting along the North Williamsburg waterfront, new residential construction in the area has begun to slow down over the past year, as the neighborhood just doesn’t have many development sites left. However, one builder managed to snag a lot at 106 North 3rd Street, between Wythe Avenue and Berry Street.
Foundation work appears to be complete where a 22-story, 252-unit mixed-use building is under development at 416 Kent Avenue, in Williamsburg near the East River. The site can be seen thanks to photos posted to the YIMBY Forums. The tower will be connected by a common base with two other 22-story residential towers, located next door at 420 Kent Avenue. That site was cleared of commercial low-rises earlier this year.
SIR Chelsea LLC, a joint venture of hoteliers Richard Born, Ira Drukier, and Sean MacPherson, has closed for $250 million on the purchase of the 12-story, 58-unit mixed-use building known as Hotel Chelsea, at 222 West 23rd Street, in Chelsea. The new owners plan to redevelop the property into a boutique hotel and condominium units, The Real Deal reported. BD Hotels will serve as the developer and hotel manager. Completion is expected by 2018. The property is an individual landmark and has gone through years of redevelopment attempts.
Excavation work is underway on the site of a planned 12-story, 110-unit mixed-use building at 79 Avenue D, in the Alphabet City section of the East Village. The developer, L+M Development Partners, has also secured $52.8 million in construction financing. The latest building permits indicate the project will encompass 114,422 square feet and rise 120 feet above street level, not including the bulkhead.
Over the course of the past year, Eli Hamway and his partners at Industrie Capital evicted hundreds of artists from the turn-of-the-century warehouses at Ninth Street and Second Avenue in Gowanus. Now they’ve begun converting the buildings to office space and kicked off leasing for the project.