In March, YIMBY revealed renderings of the four-building, 223-unit condominium redevelopment of Cabrini Medical Center, in Gramercy. Now, developers Chetrit Group and Clipper Equity have closed on a $345.5 million loan for the project, according to Commercial Observer. Dubbed Gramercy Square, three medical buildings will be converted, and a fourth building will be constructed ground-up. Also planned is a 25,000 square-foot court yard, designed by M. Paul Friedberg and Partners; Woods Bagot is the project’s design architect. Completion is expected in 2016.
The current round of the 57th Street boom is making rapid progress, and construction work at 220 Central Park South in particular is moving quickly. Despite all the momentum, slight uncertainty has surrounded the building’s final design, but YIMBY now has a fresh rendering confirming the skyscraper’s ultimate appearance.
The development boom is kicking into high gear in Downtown Brooklyn, between the nearly complete Ava DoBro at 100 Willoughby Street, the two topped out residential towers at City Point, and Two Trees’ 36-story BAM South Tower. Today we have an update on 333 Schermerhorn Street, aka The Hub, thanks to YIMBY reader and prolific photographer Tectonic.
As the clock ticks down to the start of the city’s East New York rezoning process in the fall, YIMBY has noticed an uptick in market-rate filings on the soon-to-be-valuable real estate around Broadway Junction. And now plans are in the works for three small apartment buildings at 62-68 Somers Street, just beyond the western patch of Ocean Hill that’s about to be rezoned.
Fencing is up around the site of Staten Island’s planned New York Wheel, in St. George, and it appears construction is now in full motion, per the Staten Island Advance. In 2014, YIMBY brought you renderings of the 630-foot-tall Ferris wheel, which ‘New York Wheel LLC’ is developing and Starneth BV is designing (with Perkins Eastman). Completion is expected in the first half of 2017, alongside the Empire Outlets, also in St. George.