Back in 2014, Diversified Realty Advisors and California-based SunCal closed on the purchase, for $39.5 million, of the 70-acre former General Motors factory site in Sleepy Hollow, located just north of the Tappan Zee Bridge in Westchester County. Now, the developers have held a groundbreaking ceremony for their mixed-use mega-development called Edge-on-Hudson, Westfair reports. The project will include 1,177 residential units (a mix of condos, townhouses, and rentals), a 140-key boutique hotel, 135,000 square feet of retail and restaurant space, and 30,000 square feet of office space. Some of the units will rent at below-market rates to seniors and lower-income families. Sixteen acres will be made into parkland and a riverfront promenade.
Earlier this week, YIMBY brought you a new rendering of the mixed-use supertall tower planned at 45 Broad Street, in the Financial District, but now new building applications have been filed with the Department of Buildings. The 371,634-square-foot tower, which has been marketed as 86 stories, will actually have 64 real floors and will stand 1,115 feet above street level. It will also have 150 residential units, which is significantly less than the previous figure of 245. The apartments should average 1,394 square feet apiece, indicative of condominiums, and units will come in studio to three-bedroom configurations. There will also be 48,077 square feet of office space on the third through eighth floors. The project’s 20,000 square feet of amenities will be located on three sub-cellar levels and the ninth through eleventh floors. Madison Equities, Pizzarotti-IBC, and AMS Acquisitions are the developers, and CetraRuddy is behind the design. Excavation is expected to begin later this year, with completion of the tower scheduled for 2018.
In December of 2015, William Maklowe Company and Principal Real Estate Investors acquired the 14-story, 190,000-square-foot former Scribner Printing Plant building – located at 311 West 43rd Street, in Hell’s Kitchen – for $107 million. Now, the owners are are renovating the former industrial property into modern office space, dubbed The Press, according to Commercial Observer. The renovations include a redesigned lobby, a new canopy over the entrance, new windows, and a top-down revitalization of the interior. Some of the vacant floors will see a more extensive overhaul, like the 12,749-square-foot eleventh floor, which will get a high-end kitchen, and glass conference rooms. Other upgrades include a penthouse lounge, equipped with a pantry, and an outdoor roof deck. Construction is expected to wrap up by the end of the summer. Currently, there’s about 80,000 square feet of vacant space in the building.
Back in August of 2015, foundation work was underway for 55 Hudson Yards, a planned 51-story, 1.3-million square-foot office building bound by Eleventh Avenue and Hudson Boulevard and West 33rd and 34th streets, in the Hudson Yards District. The structure has since risen above street level and is now three stories in height, as seen in photos by NyConstructionPhoto. The 780-foot-tall tower will feature an amenity-filled lobby and outdoor terraces throughout. Multiple tenants have already signed leases or letters of intent for space. Law firm Boies, Schiller & Flexner has leased 83,000 square feet, and Milbank, Tweed, Hadley & McCloy, another law firm, signed a letter of intent to take 250,000 square feet. Related Companies and Oxford Properties Group are developing, while Kohn Pedersen Fox is the design architect. Tokyo-based Mitsui Fudosan owns a 92.09 percent share of the tower. Construction is expected to be complete in 2018.
Olmstead Properties and Newmark Holdings are in contract to acquire the six-story, 225,000-square-foot commercial building at 43-01 22nd Street, in the Queens Plaza/Court Square section of Long Island City. The building currently houses office and design spaces, with Reis Studios, Concept Press, and interior designer Christian Liaigre leasing space at the property. The building is expected to trade hands for more than $60 million, according to Commercial Observer. The new owners plan to renovate the building by upgrading the lobby and replacing the windows and elevators. Roughly 50,000 square feet of commercial space is currently available.