Mixed-Use

515 West 52nd Street

Two Performance Theaters Being Built On Ground Floor Of 515 West 52nd Street, Hell’s Kitchen

6:30 am on March 23, 2016 By Reid Wilson

MCC Theater has broken ground on a long-planned venue inside the 27-story, 627-unit Avalon Clinton at 515 West 52nd Street, in Hell’s Kitchen. Crain’s reports the performance facility will measure 27,000 square feet across the ground floor and a mezzanine level. The space inside the building was initially intended for a nonprofit’s use when it was built in 2004, but has remained vacant since then. In 2011, plans to build a performance facility kicked off, and the theater organization along with the city’s Department of Cultural Affairs raised $29.9 million for the project. When construction wraps up in 2018, there will be 249-seat theater and a 99-seat theater. Andrew Berman Architect is designing the theaters, which will include associated workshop, meeting, and rehearsal spaces, as well as a grand lobby and connections to the existing outdoor courtyard space. AvalonBay currently owns the property.

1179 Second Avenue

Residential Development Site At 1179-1183 Second Avenue Purchased, Upper East Side

1:00 pm on March 22, 2016 By Reid Wilson

S.W. Management has acquired the vacant development site spanning 1179-1183 Second Avenue and 249-251 East 62nd Street, on the Upper East Side, for $64.3 million. According to Crain’s, the property lot at the corner of Second Avenue and East 62nd Street, at 253 East 62nd Street, is not included in the acquisition, although its former five-story predecessor was demolished just last year. The site that was newly acquired can accommodate 87,650 square feet of development potential as-of-right. A future building could include ground-floor retail space and residential units above. Plans for the site have not been disclosed. Sometime between 2009 and 2011, five tenement buildings ranging between three and five stories were demolished at the site.

Triangle Park

Deal Reached For Triangle Park Multi-Building Mixed-Use Development, Newark

11:00 am on March 22, 2016 By Reid Wilson

Early last year, the Newark City Council approved plans to build a 2.5-acre park in the city’s downtown. It would connect Prudential Center to the Ironbound’s Peter Francisco Park by bridging over Newark Penn Station, but it would also serve as the centerpiece of a multi-building mixed-use development of the surrounding vacant blocks. Last week, the city of Newark struck a deal with Edison Properties and J&L Parking Corporation to development the buildings, Newark Patch reports. Details on the new buildings are sparse, but there will be a significant number of residential units, retail space, and possible office space. Construction is expected to commence later this year and completion is tentatively set for July of 2018. The Newark Community Economic Development Corporation will head the construction of the park, being designed by MKW + Associates.

209 Havemeyer Street

Developers Acquire Mixed-Use Development Site At 263 South 5th Street, Williamsburg

2:00 pm on March 21, 2016 By Reid Wilson

Back in October of 2015, news broke that Tavros Development Partners, Charney Construction & Development, and 1 Oak Development were in contract to acquire the Dime Savings Bank assemblage in Williamsburg, located two blocks north of the Marcy Avenue stop on the J/M/Z trains. The $80 million sale has closed, according to Commercial Observer. The development site includes the properties at 263-277 South 5th Street, 262-272 South 4th Street, and 205 Havemeyer Street, and some site are currently occupied by low-rise commercial structures. The Dime Savings Bank of Williamsburg building, the existing two-story bank at 209 Havemeyer Street, was not part of the deal. The 50,000-square-foot site could accommodate a new 230,500-square-foot mixed-use building, although plans for the site have not been disclosed.

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