A rendering has been revealed of the planned 15-story, 113-unit mixed-use building at 87 Newkirk Street, in the Journal Square section of Jersey City. The project will measure 129,500 square feet in total, featuring 5,000 square feet of ground-floor retail space, followed by 21,500 square feet of co-working space on the second and third floors. The residential units above will be rental apartments configured in studios and co-living suites with multiple bedrooms.
SoHo-based Tavros Capital is currently in the process of assembling a site with significant development potential on the corner of 23rd Street and 45th Avenue, in the Court Square section of Long Island City. Over the summer, the development firm purchased the townhouses at 45-03 23rd Street and 45-07 – 45-09 23rd Street for $11.25 million, and has since entered into contract on two additional properties, while waiting for two more. Plans include a mixed-use building with retail, office, and residential components, The Real Deal reported. The site can accommodate up to 167,000 square feet of mixed-use development as-of-right, though an additional 83,000 square feet of air rights could be acquired. Tavros expects the assemblage to cost between $30 and $35 million once complete.
Earlier this year, Gov. Andrew Cuomo released a request for proposals (RFP) to upgrade, modernize, and expand Pennsylvania Station, located at Eighth Avenue and West 33rd Street under Madison Square Garden. The project will also incorporate the landmarked James A. Farley Post Office Building into the transportation complex. Now, renderings of the project have been revealed, per The New York Times, along with a timeline.
Piling work is now underway on the two-towered, 310-unit mixed-use complex under development at 76 Eleventh Avenue, located between West 17th and 18th streets in southern Chelsea. The site can be seen thanks to a photo posted to the YIMBY Forums. The project will consists of 25- and 35-story towers, rising 302 and 402 feet above street level, respectively. A common four-story base will feature 181,893 square feet of commercial space. It will include retail and office space, in addition to the residential amenities. The residential units, located in the towers, will be condominiums, averaging 2,258 square feet apiece. HFZ Capital Group is the developer. Bjarke Ingels Group is the design architect and Woods Bagot is the executive architect. Completion is expected in 2019.
The Vorea Group has signed a 99-year ground-lease, worth roughly $350 million, for the 10,000-square-foot development site at 23-20 Jackson Avenue, located on the corner of Pearson Street in the Court Square section of Long Island City. The developer plans to build a mixed-use commercial building measuring between 50,000 square feet and 65,000 square feet, according to the Wall Street Journal. The lower floors will contain 30,000 square feet of retail space while the upper floors will feature offices. The site, currently occupied by a single-story commercial building, can accommodate up to 50,000 square feet of leasable commercial square-footage. Neither demolition permits nor new building applications have been filed. Real Estate Weekly reported on the details of the lease.