Over the summer, YIMBY brought you new renderings and details on the planned 88-unit luxury residential tower at 36 Central Park South, dubbed 1 Park Lane, which would replace the 46-story, 628-key Park Lane Hotel. The project was in the pre-development stages and advertised in the EB-5 program, but its developers, Witkoff and Macklowe Properties, are shelving plans for now, Bloomberg Business reports. Due to uncertainty in EB-5’s congressional reform, a slowdown in the Chinese economy, and an over-saturation in the ultra-luxury residential market, the Park Lane will remain as a hotel for the foreseeable future. Its operations and management are in the process of being repositioned, and Witkoff is in talks to refinance debt on the property.
In December of 2013, the Landmarks Preservation Commission approved the planned 14-story, 52-key hotel at 1162 Broadway, between West 27th and 28th streets in NoMad, located within the Madison Square North Historic District. Applications for the project were submitted in May of 2014, but filings were incomplete until yesterday, when Aini Assests filed drawings with the Department of Buildings. The building will have 24,325 square feet of commercial space and there will be a café or restaurant on the ground floor. Morris Adjmi Architects is behind the design. The site is currently occupied by a 26-foot-wide, two-story commercial structure, and demolition permits were filed this past December. The LPC also recently approved plans for a hotel next door at 1164 Broadway.
Last December, Cogswell Realty filed exploratory plans for a mixed-use redevelopment of the former Streit’s Matzo Factory, spanning 148-154 Rivington Street on the Lower East Side. The brick buildings will be partially demolished down to the first floor, according to permits with the Department of Buildings. Bowery Boogie spotted additional filings that call for six floors to be built atop the single-story structure that would be left behind after demolition. There will be 45 residential units in total and retail space is expected to measure 10,219 square feet on the ground and cellar floors. The structure would be topped by a open roof terrace. GLUCK+ is the architect of record and likely designing the redevelopment.
Bronx-based Marricco Family Limited Partnership has filed applications for a three-story, six-unit residential building at 1857 Barnes Avenue, in Van Nest, located seven blocks from the Bronx Park East stop on the 2 and 5 trains. The structure will encompass 8,270 square feet, although its residential space will measure 6,226 square feet. That means units will average 1,038 square feet apiece, which is relatively spacious and indicative of market-rate apartments. College Point-based Gino Longo is the architect of record. The site consists of a 55-foot-wide parcel, and demolition permits were filed in December to remove an existing two-story townhouse.
Property owner Ming Ching Cheung has filed an application for a three-story, four-unit residential building at 85-18 57th Road, in Elmhurst, located four blocks from the Woodhaven Boulevard stop on the M and R trains. The structure will measure 5,372 square feet in total and there will be 3,789 square feet of residential space. The units will average 1,263 square feet apiece, meaning the building will probably contain condominiums. Sugnam Chang’s Brooklyn-based Basic Groups Corp. is the architect of record. An existing two-story brick rowhouse must first be demolished.