Joseph Brunner and Abe Mandel are set to acquire the single-story warehouse buildings spanning 296-306 Wythe Avenue, in western Williamsburg, two blocks in from the East River, for roughly $27 million. The developers plan to build a residential development on the site, featuring retail space on the ground floor. When the sale closes, the transaction would be a price record in the neighborhood at nearly $700 per buildable square foot.
Last December, Thor Equities filed applications for a 71-story, nearly 353,600 square-foot mixed-use tower at 520 5th Avenue, in Midtown, and now Ceruzzi Properties has agreed to acquire the site for $325 million, according to Commercial Observer. The new owner plans to proceed with previous plans, which will feature three stories of retail, followed by 208 hotel rooms up to the 24th floor, and 145 residential units in the upper reaches of the tower.
Earlier this year, Chetrit Group and Somerset Partners purchased two Bronx waterfront development sites at 2401 3rd Avenue and 101 Lincoln Avenue, in Port Morris, surrounding both sides of the Third Avenue Bridge, and now Curbed has the details for their project. The developers plan two 25-story towers totaling 1,600 residential units, across 1.3 million square feet, and retail space will span the first two floors. The site is currently occupied by warehouses.
Arthur Shapolsky is set to acquire the development assemblage consisting of 23-27 Third Avenue and 3 St. Marks Place in the East Village, across the street from Astor Place. The properties, set to trade for roughly $50 million, are currently occupied by a three-story townhouse and some retail structures. The site could accommodate a new building of 41,500 square feet, though plans have not yet been disclosed.
In December, YIMBY revealed renderings of Silverstein’s and El-Ad Properties’ 41-story, 365-unit mixed-use building planned for 1 West End Avenue, in Lincoln Square, and now Curbed has renderings of the building’s interior, which is being designed by Jeffrey Beers. Foundation work is currently underway at the site, and completion is slated for 2017. The Pelli Clarke Pelli-designed building will feature an affordable residential portion in its eight-story stone-clad base, and retail space is planned on the ground floor.