In June, Ceruzzi Properties was reportedly in contract to purchase 520 Fifth Avenue, on East 43rd Street, and now the developer has closed on the $325 million site, according to Commercial Observer. Shanghai Municipal Investment’s U.S. arm is partnering with Ceruzzi, and the team is planning to follow through with applications filed back in 2014, which call for a 71-story mixed-use tower.
Christian non-profit Metro World Child is renovating and expanding its Bushwick headquarters, and their development partner, Moshe Braver, has filed new building applications for a five-story residential project on their former property at 338 Evergreen Avenue.
Mohammad Badaly, head of Mount Vernon-based Badaly Architects, has filed applications for a five-story, 13-unit mixed-use building at 3190 Riverdale Avenue, in Kingsbridge, five blocks from the 1 train’s stop at 231st Street. The building will measure 19,628 square feet in total, and will feature 4,657 square feet of heath care facilities on two below-grade levels. Residential units above will measure 1,150 square feet apiece, and the existing two-story house passed pre-demolition inspection this past July.
Extell Development is in contract to purchase the single-story grocery store at 350 East 86th Street, on the Upper East Side, for $100 million, Crain’s reports. The developer also owns neighboring sites, and can build a 20-story, 230,000 square-foot condominium building, with 200 units and retail space. The acquisition is expected to close next year, also when Gristedes’ lease expires. Extell’s plans have yet to be disclosed, and assemblage could be expanded with further acquisitions.
Savanna has filed applications for a variance to build a 44-story, 310,000 square-foot mixed-use building at 141 Willoughby Street, in Downtown Brooklyn. In exchange for the rezoning, 30 percent of the building’s 270 residential units would be set aside as affordable. At the base, 28,000 square feet of retail space would span the ground and second floors, in addition to 34,000 square feet of office space on the third and fourth floors, according to The Real Deal. An existing three-story building must first be demolished.