Permits were filed and YIMBY revealed renderings last summer of G&M Realty’s planned 48- and 41-story, 1.2 million-square-foot mixed-use development at 22-44 Jackson Avenue, at the former site of 5 Pointz in Long Island City. Now, excavation is finally in full swing, The Court Square Blog reports. Thomas O’Hara’s HTO Architect is designing the 1,116-unit project, which also includes 39,765 square feet of ground-floor retail space. Completion is currently expected in the winter of 2017.
Work has begun on a seven-story, 17-unit mixed-use building at 49 Broadway, in Williamsburg, two blocks in from the East River, according to DNAinfo. Hess Management is developing the 17,207 square-foot building, which will feature 5,293 of commercial-retail space on the ground and second levels. A 352 square-foot doctors office is planned on the ground floor, and starting on the third floor, residential units averaging 680 square feet begin. Jeffrey Kamen is designing.
Exterior work is wrapping up on 41-07 Crescent Street, in Long Island City, where Ranger Properties is developing a nine-story, 48-unit mixed-use building, which YIMBY first revealed back in May of 2014. A tipster has sent along photos of the project’s progress, and scaffolding is now being removed.
Michael Stern’s JDS Development, partnered with Chetrit Group, is planning to acquire the landmarked Dime Savings Bank building at 9 Dekalb Avenue, in Downtown Brooklyn, for $90 million, according to Crain’s. The building could be converted to accommodate retail, but roughly 300,000 square feet of unused air rights can now be transferred to the team’s site at 340 Flatbush Avenue Extension.
After Chetrit Group landed a $60 million acquisition and pre-development loan for their development site spanning 541-545 West 37th Street, in Midtown West, the developer is planning to move forward with their plans, which YIMBY reported on nearly a year ago. The site boasts 373,000 square feet of building potential, and conceptualized as a 50-story mixed-use tower featuring 100 residential units and 350 hotel rooms. Two three-story buildings must first be demolished.