The Kaufman Organization and Goldman Sachs have paid $45 million for a 99-year ground-lease on 155 West 23rd Street, in Midtown South, which is owned by Gary Barnett. Crain’s reports the existing 12-story, 82,000 square-foot office building will undergo a $10 million renovation immediately, which will include fixes to the roof, windows, and interior. Completion is expected by 2016, and ground-floor retail space will also be included.
In the middle of 2014, the six-story, 39-unit residential project began construction at 11-35 45th Avenue, in Long Island City, and today, the building is nearly finished, according to The Court Square Blog. The building has been topped-out for a while, but now the façade is mostly up, with work still ongoing on the roof and balconies. Units will average 769 square feet apiece, and completion is tentatively scheduled for next spring. George Xu is representing an anonymous developer, and Flushing-based Raymond Chan is the architect.
Property owner Robert Balter has tasked Eastern Consolidated to market the vacant three-story, 4,900 square-foot building at 216 Bowery, in Nolita, according to Commercial Observer. The property is being advertised as a development site, and a new building could measure 15,000 square feet. The marketing team estimates the building is likely to fetch north of $4.1 million.
Last week, YIMBY brought you the first look at B+B Capital’s South Williamsburg condos on South 3rd Street. Now we have a rendering for another B+B development under construction a bit further south, at 176-178 Division Avenue.
The East Williamsburg-Bushwick industrial zone is slowly transitioning from a no man’s land around the heavily polluted Newtown Creek to a mixed-use neighborhood complete with hotels, nightclubs and retail. Near the Jefferson Street L stop, the Bushwick Collective mural project has hastened gentrification by beautifying several barren blocks with the work of dozens of street artists. So it’s no surprise that a hulking six-story factory nearby at 455 Jefferson Street may become offices and retail.