Back in September of 2014, YIMBY brought you an update on the development site at 16 West 57th Street, along Midtown’s Billionaires’ Row, when the property was acquired for $95 million by a Brazilian investor. Last week, developer Sheldon Solow acquired the property, a five-story, 24,000-square-foot commercial building, for $128 million, The Real Deal reported. The developer also owns the adjacent properties at 10 West 57th Street, 20 West 57th Street, and 19 West 56th Street. The site assemblage now boasts 213,000 square feet of residential development rights, plus additional rights that can be put towards a commercial component. The new owner has yet to disclose plans for the site. Demolition permits were filed last year to raze 16 West 57th Street as well as the six-story office building at 19 West 56th Street.
Medical and bio-tech product development consulting firm MIDI has finished construction on their new single-story office and research headquarters at 226 East Main Street, in Smithtown on Long Island, located nearly a mile from the neighborhood’s Long Island Rail Road station. The new building hosts MIDI’s corporate offices, its research, design, and engineering studios, and a prototyping lab. The structure also contains additional science and medical diagnostic spaces, including a Northwell Health imaging center. The $5 million facility was constructed by Stalco Construction and designed by Long Island-based nf architectural designs.
Possibly the most prominent new development in New York City is beginning to come to life today. 10 Hudson Yards, the first building completed at Related and Oxford’s Hudson Yards mixed-use project, is opening its doors, and we have a new look at the skyscraper, which will be home to Coach’s corporate headquarters.
Fourth Avenue’s development boom is moving south from Park Slope into Greenwood Heights. Developer Steve Cheung filed plans on Friday to erect a 12-story, mixed-use building at 685 Fourth Avenue, on the corner of 22nd Street. The 120-foot-tall project will bring 81 apartments and 6,400 square feet of retail space to a parking lot a couple blocks south of the Prospect Expressway.
The Bronx is booming across all corners, and now in East Tremont, the city has officially broken ground on a major new mixed-income affordable housing development, dubbed Tremont Renaissance, at 4215 Park Avenue. Bound by Webster, East Tremont, and Park avenues, the building will rise on a 60,000-square-foot lot, containing 40,000 square feet of ground floor commercial space and 256 residential units above. Apartments will rent to individuals making between $38,100 and $76,200, and families of three making between $48,960 and $97,920; half of the units will rent to low-income families, while the other half will go to moderate-income tenants. Mastermind Development is behind the project, alongside HPD and HDC, and Joy Construction will be building it.