Mixed-Use

5018 Fourth Avenue

Developer Plans Conversion Project At Four-Story Building At 5018 Fourth Avenue, Sunset Park

The four-story, 24,000 square-foot commercial building at 5018-5024 4th Avenue, in Sunset Park, has been purchased by developer Congregation Imrei Yehudah for more than $7.5 million. According to the Brooklyn Daily Eagle, the new owner plans to convert the vacant building into residential units or office space. The 6,400 square-foot lot also contains 2,880 square feet of air rights, which could go towards expanding the building. It’s conveniently located three blocks north of the 53rd Street stop on the R train.


89 Avenue D

Developer Moves Forward With 12-Story, 108-Unit Mixed-Use Project At 89 Avenue D, East Village

In the beginning of 2015, YIMBY reported on filings for a 12-story, 108-unit mixed-use building at 79-89 Avenue D, in the Alphabet City section of the East Village, and now DNAinfo reports the development is moving forward. Earlier this month, Rite Aid was the final tenant to move out of the property assemblage, and within the past few days, L+M Development Partners filed demolition permits to raze the single-story retail buildings. The project will include 22 affordable residential units as well as 7,693 square feet of ground-floor retail. Also, all the residential units will be rentals and should average 821 square feet apiece. GF55 Partners is the architect of record.


Hallets Point

Groundbreaking Ceremony To Be Held For 22-Story, 224-Unit Mixed-Use Building In Hallets Point, Astoria

In May of 2015, YIMBY revealed renderings of the first building to be constructed at Hallets Point, the seven-building, 2,404-unit mega-development planned in western Astoria. Later that summer, we reported on the building’s applications, which call for a 22-story, 224-unit residential building with a 25,350 square-foot supermarket at 26-01 1st Street. Now, the Durst Organization is planning, on Thursday, to hold a groundbreaking ceremony for the building, according to DNAinfo. The Dattner Architects-designed structure will encompass 520,913 square feet in total, 368,745 square feet of which will be residential space. Completion of 26-01 1st Street is expected in 2017.



550 Madison Avenue

25,000 Square-Feet Of Retail Planned In Hotel-Condo Conversion Of Sony Tower, 550 Madison Avenue, Midtown

Early last month, the first rendering surfaced of Chetrit Group’s planned hotel-condo conversion of the 37-story, 855,000 square-foot office building at 550 Madison Avenue, between East 55th and 56th Streets in Midtown. Sony Tower’s 14th through 20th floors will be converted into a 170-key and will be operated by Oetker Collection Masterpiece Hotels. The 21st through 43rd floors will be converted into 113 condominiums, but Real Estate Weekly now has details on the three stories of redesigned retail at the bottom of the building. The retail space, formerly occupied by Sony, will measure 25,451 square feet in total and will be split into four separate leases. Robert A.M. Stern is designing, and completion of the conversion is expected in early 2018.


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