Mixed-Use

138-142 Bowery

Reveal for Eight-Story, 67-Unit Apartment-Hotel at 138-142 Bowery, Little Italy

Back in September of 2015, YIMBY reported on applications for an eight-story, 67-unit apartment-hotel at 138-142 Bowery, in Little Italy. Now, Bowery Boogie has revealed renderings of the project and has reported that demolition of the site’s existing two- and three-story structures has been completed. The new building will encompass 53,088 square feet, and will host 46 hotel rooms and 21 residential units. There will be commercial-retail space on the cellar, ground, and mezzanine levels, so it’s difficult to estimate the size of the hotel rooms. The apartments will span the sixth through eights floors and should average a rental-sized 658 square feet apiece. Emmut Properties is the developer and New Jersey-based Schneider Associates is serving as the applicant of record. Completion is expected in 2017. The developer closed on the development assemblage last October for $47 million.


123 Melrose Street

Developer Completes Assemblage for Two-Building Residential Complex at 123 Melrose Street & 54 Noll Street, Bushwick

In October of 2014, YIMBY reported on applications for an eight-story, 385-unit residential building at 123 Melrose Street, the site of the former Rheingold Brewery complex in western Bushwick, located three blocks from the Myrtle Avenue stop on the J/M/Z trains. All Year Management has now acquired a piece (28 Stanwix Street) of the mega-block development site – bound by Evergreen Avenue and Stanwick, Melrose, and Noll streets – from Princeton Holdings and Read Property Group for $72.2 million, The Real Deal reported.

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1501 Voorhies Avenue

Foundation Work Underway At 28-Story, 236-Unit Residential Tower, 1501 Voorhies Avenue, Sheepshead Bay

Back in September of 2014, YIMBY reported on applications for a 28-story, 236-unit residential building at 1501 Voorhies Avenue, in southern Sheepshead Bay, located directly adjacent to the Sheepshead Bay stop on the B/Q trains. Now, Sheepshead Bites reports foundation work is well underway on what permits say will eventually be a 275,892-square-foot building. The residential units, which will be a mix of condominiums and rental apartments, should average a relatively spacious 1,169 square feet apiece. The tower’s lower portions will host 13,530 square feet of commercial space, and amenities include 124 parking spaces, many located in an underground garage, storage for 118 bikes, a fitness center, a pool and spa, and and common outdoor spaces. AvalonBay and Muss Development are the developers, and Perkins Eastman Architects is behind the design. Completion is expected in 2018.


422 Fulton Street

First Look at Macy’s Five-Floor Renovation Planned at 422 Fulton Street, Downtown Brooklyn

In August of 2015, news broke that Tishman Speyer was acquiring five stories of Macy’s nine-story commercial building at 422 Fulton Street, along with the parking garage at 11 Hoyt Street/217 Livingston Street, in Downtown Brooklyn, for $170 million. Macy’s is expected to consolidate their retail space into 278,000 square feet on the lower half of the building (basement through fourth floors). Speyer would then expand and convert the upper portion into 10 stories of office space. The Wall Street Journal now has the first glimpse of the renovations, which Speyer has agreed to fund (as part of the deal), that will go into Macy’s portion of the building. Macy’s and FRCH Design Worldwide are designing their space. Work is expected to begin imminently, and the renovation is expected to be complete in 2019. It was recently reported that Speyer would be utilizing the EB-5 program to raise roughly $60 million in financing.


38 Sixth Avenue

23-Story, 303-Unit Affordable Residential Tower Rises at 38 Sixth Avenue, Prospect Heights

Last month, YIMBY revealed new renderings of the 23-story, 303-unit mixed-use building planned at 38 Sixth Avenue, in Prospect Heights, located within the 15-building Pacific Park mega-development. Curbed NY now has an update on the entire project, but more specifically photos revealing that this portion of Pacific Park is finally rising. The structure is currently two stories above street level. It will eventually encompass 341,595 square feet and will feature 8,700 square feet of retail space and medical offices on the ground floor. The rental apartments, averaging 957 square feet apiece, will all rent at below market-rates. There will be a mix of studios, one-, two-, and three-bedroom apartments. A partnership between Forest City Ratner and Greenland USA is developing, and SHoP Architects is behind the design. Completion is expected in late 2017.


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