Late last year, YIMBY brought you news of Rabsky Group’s 12-story, 129-rental-unit building planned at 581 Fourth Avenue, in South Slope, and then renderings surfaced of the Karl Fischer-designed structure over the summer. Now, The Daten Group is paying $24 million for the assemblage, and the 12-story building will instead have 65 condominiums. Kutnicki Bernstein Architects is replacing Fischer, and demolition of the existing low-rise structures at 575-581 4th Avenue and 189-195 Prospect Avenue will begin in the fall. The original permits also included nearly 2,400 square feet of retail space. [The Real Deal]
A U.S. subsidiary of Beijing-based China Oceanwide Holdings has made a deal with Howard Hughes Corp. to purchase the development site at 80 South Street, in the Financial District, for $390 million, according to Crain’s. Along with the five-story building at 80 South Street, the assemblage includes the 10-story building at 163 Front Street. The site boasts 820,000 square feet of development rights, with residential space allowed to span 440,000 square feet while the remainder designated for some form of commercial space.
YIMBY revealed the seven-story, 30-unit mixed-use building planned at 472 Atlantic Avenue (aka 465 Pacific Street) in Boerum Hill, late last year, and now developers Avery Hall Investments and ARIA Development Group have landed a $34.2 million construction loan, according to Crain’s. The team broke ground on the 85,000 square-foot condo project this week, which will include 15,000 square feet of ground-floor retail space, and completion is expected in early 2017. Morris Adjmi is the architect of record.
Bedrock exploration is now taking place at 200 Amsterdam Avenue, near 70th Street in Lincoln Square, according to West Side Rag. Earlier this year, the site — which has 388,000 square feet of development rights — was placed on the market with an asking price of more than $400 million. It’s unknown who exactly is behind the tests, as a developer and architect have not been disclosed. Demolition permits for the existing structure have not yet been filed.
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.