Vornado Realty Trust has acquired the low-rise retail building at 144-150 West 34th Street, in Midtown South, for $355 million from a partnership between Starwood Capital Group and Crown Acquisitions. The three-story, 78,000 square-foot building is leased by Old Navy; their lease expires in five years, and the property boasts 300,000 square feet of commercial building rights if redeveloped.
Second Development Services and Richport Group have acquired a new $28 million construction loan for their 11-story, six-condo-unit building under construction at 25 Great Jones Street/22 Bond Street, in NoHo, reports Commercial Observer. The project is being sculpted out of a previously half-way completed hotel structure, and BKSK Architects is designing. The $52 million project is proceeding, although behind schedule, and an opening date hasn’t been revealed yet.
Last summer, YIMBY revealed renderings of Meadow Partners’ 13-story, 48-unit mixed-use use building planned for 42-14 Crescent Street, in Long Island City, and now The Court Square Blog has noticed excavation underway at the site. Ground-floor retail will measure 750 square feet, and John Fotiadis is designing; signage indicates an expected completion date of August 2016.
In March, YIMBY revealed a rendering of Bizzi & Partners’ planned 25-story tower at 100 Varick Street, and now plans have been filed for the 290-foot-tall residential building at the corner of Watts Street in Hudson Square.
Property owner Ray Sapiro has filed applications for a four-story, four-unit residential building at 373 Classon Avenue, in western Bedford-Stuyvesant (on the border with Clinton Hill). The building will measure 4,000 square feet, and each unit will have its own floor. Oscar Fuertes’ OMF Architecture is designing, and an existing single-story structure must first be removed.