Extell was the city’s first developer to put up a residential building of 1,000 feet or greater, and while the construction of One57 was fraught with complications, practice will hopefully make perfect. Despite initial difficulties and buckling streets, the latest photos from Tectonic show One Manhattan Square is now making major headway, at 250 South Street.
As property values skyrocket in the low-slung eastern edges of Williamsburg, small developers are searching for ways to boost a site’s density without spending exorbitant amounts of money on construction. Increasingly, they file their developments as alterations, rather than new buildings, which allows them to avoid building expensive underground parking. And the J-51 abatement gives landlords a break on their property taxes, in exchange for preserving at least 50% of the old building and keeping the new units rent-stabilized for up to 20 years. One of these enterprising developers has filed alteration applications to expand a little three-story brick apartment building at 196 Montrose Avenue, on the corner of Humboldt Street.
Crown Acquisitions has purchased the three-story retail building at 144 Fulton Street, in the Financial District, for $25 million, according to New York Daily News. Plans for the property have not been disclosed, but the site is primed for redevelopment, and has some of the best transit access in New York, directly adjacent to the Fulton Center and just two blocks from the WTC Transit Hub.
Excavation was well underway back in 2013, when YIMBY reported on a large commercial project planned at 5-15 West 125th Street, in central Harlem. Since then, the project’s scope has increased from four to six stories, and also now includes a residential component of 30 units. The block-thru building is expected to have 75,000 square feet of commercial space, spanning from the cellar to the third floor, and the shorter 125th Street side is now getting its façade, per Harlem+Bespoke. The taller end on 126th Street is rising at a slower pace. Rosenbaum Design Group is the architect of record.
An anonymous LLC has filed applications for a six-story, eight-unit mixed-use building at 818 60th Street, in southern Sunset Park, a block from the N train’s 8th Avenue stop. The building will measure 11,121 square feet in total, which includes 2,122 square feet of retail space on the ground and cellar levels, in addition to 2,017 square feet of community office space on the ground and second-floor levels. Shiming Tam — based a few blocks away in Borough Park — is the architect of record, and a two-story building must first be demolished.