Last summer, news broke that Tishman Speyer was in contract to buy the development assemblage at 434-444 Eleventh Avenue and 550 West 37th Street, located between West 36th and 37th streets, in the Hudson Yards District. Real Estate Weekly reports the developer has closed on the purchase of 434-444 Eleventh for $163.5 million. 550 West 37th Street sold in a different transaction at an undisclosed price. Plans for the site call for a 1.3-million square-foot office tower. The exact height of the building is probably still being hammered out and the design architect is currently unknown. Ultimately, the site could accommodate up to 1.7 million square feet of development if the maximum number of air rights are purchased. The site is vacant, with the exception of a single-story commercial property at 550 West 37th Street. The two single-story buildings at 446-552 Eleventh Avenue are not (yet) part of Speyer’s assemblage.
Long Island-based property owner Gurwinder Singh has filed applications for a two-story, 5,512-square-foot multi-use commercial building at 100-08 103rd Avenue, in Ozone Park, located two blocks from the 104th Street stop on the A train. There will be 1,807 square feet of retail space on the ground floor and an equal amount of medical office space on the second floor. Jamaica-based Gerald Caliendo is the architect of record. The 60-foot-wide zoning lot is partially occupied by a two-story building at 100-10 – 100-12 103rd Avenue, although the vacant 20-foot-wide section to the east of the structure will be the site of the new building.
Connecticut-based property owner Gjin Gjini has filed applications for a three-story, three-unit residential building at 1605 Taylor Avenue, in the Van Nest section of the Bronx, located five blocks from the East 180th Street stop on the 2 and 5 trains. The project will measure just 3,740 square feet and would rise on a vacant 25-foot-wide lot. There will be 2,805 square feet of residential space, so the full-floor residential units should average 935 square feet apiece. That means relatively spacious rental units are probably in the works. Long Island-based Shahriar Afshari is the applicant of record.
Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.
Musician and property owner Norah Jones is moving forward with converting the two-story, two-family residential building at 172 Pacific Street, in Cobble Hill, into a single-family townhouse. Brownstoner reports all of the needed approvals are in place to do the conversion, which includes partially demolishing the rear of the property and replacing it with a new rear extension that will include a sliding glass door on the ground floor and French doors and Juliette balconies on the second floor. In all, the structure will see its residential space go from 3,552 square feet to 3,085 square feet. Baxt Ingui Architects is designing the renovations. As the property sits within the Cobble Hill Historic District, the Landmarks Preservation Commission had to approve of the project, which it did in November of 2015. The house was purchased for $6.25 million in 2015.