New York

685 Fifth Avenue

New Developer to Construct Five-Story Office Expansion Atop 20-Story Commercial Building at 685 Fifth Avenue, Midtown

Earlier this week, YIMBY reported on applications to expand, by five stories, the 20-story, 115,000-square-foot multi-use commercial building at 685 Fifth Avenue, located on the corner of East 54th Street in Midtown. It was previously reported that Michael Shvo was in contract to acquire, from property owners General Growth Properties and Thor Equities, 90,000 square feet of office space (the entire office portion). That deal has since fallen through, and now, Gulaylar Group is in contract for the office space, according to The Real Deal. As part of the deal, the new owner will also develop the five-story office expansion. The sale is expected to close later this year. The lower portion of the building is currently undergoing a retail redevelopment. Its 23,400 square feet was leased to Coach in February and will become the retailer’s flagship store.


161 Maiden Lane

New Renderings Revealed of 60-Story, 80-Unit Condo Tower at 161 Maiden Lane, Financial District

Back in September of 2015, new details were revealed of the residential tower planned at 161 Maiden Lane, in the Financial District, notably that the project would rise 60 stories, or 670 feet above street level, up from a previous 51 stories. Now, YIMBY can reveal new and up-close renderings of the glassy tower. Dubbed 1 Seaport, the project will have 80 condominium residences ranging from one- to four-bedroom configurations, averaging 1,726 square feet apiece. The 192,473-square-foot tower will be topped by two duplex penthouses. Amenities, located across three floors, will include a fitness center with yoga and training rooms, an infinity pool and spa featuring a “rain shower,” a sauna, and a “relaxation lounge.”


321 East 96th Street

Partnership Plans 1,100-Unit Mixed-Use Development At 321 East 96th Street, Upper East Side

AvalonBay Communities and the New York City Department of Education’s Educational Construction Fund (ECF) are partnering to develop a roughly 1,100-unit mixed-use complex at 321 East 96th Street, on the Upper East Side. The complex will include rental apartments, two public schools with recreational spaces, and 20,000 square feet of retail space, according to The Real Deal. The development would take up the entire block, which is bound by East 96th and 97th streets and First and Second avenues.


52-54 East 126th Street, image via Google Maps

Supportive Housing Planned to Replace Abandoned East Harlem Brownstone at 52 East 126th Street

Fifteen years ago, complaints began rolling into the city Department of Buildings about the abandoned, double-wide brownstone at 52 East 126th Street in East Harlem. The building was vacant and in danger of collapsing, callers said. Squatters had taken up residence, and neighbors saw addicts and prostitutes coming and going. The block even banded together to seal the building. But it looks like the collapsing brownstone won’t be around much longer. Nonprofit social services agency Odyssey House has filed plans to develop five stories of supportive housing on the lot between Madison and Park Avenues.

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235 Cherry Street

JDS Development Planning 77-Story, 600-Unit Mixed-Use Building at 235 Cherry Street, Lower East Side

Since 2014, the property owners Two Bridges Neighborhood Council and Settlement Housing Fund have been in talks with an unknown developer over the 11,800-square-foot development site at 235-247 Cherry Street, on the southern edge of the Lower East Side. Now, it has been revealed that JDS Development Group is planning to build a 77-story, roughly 600-unit mixed-use building, The Lo-Down reports. The rental apartments should come in studio, one-, and two-bedroom configurations, with roughly 150 of the units permanently renting at below-market rates. There would also be 10,000 square feet of retail and a 4,600-square-foot senior community center in the tower. SHoP Architects will design the 900-foot-tall tower, which will be clad in terra-cotta and glass.

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