The law firm Boies, Schiller & Flexner has signed a lease for 83,000 square feet at 55 Hudson Yards, a 51-story, 1.3 million square-foot office building in the works on the Far West Side. According to The Wall Street Journal, who first broke the news, the lease is the tower’s first. In March, YIMBY brought you news of excavation work beginning, and currently, foundation work is underway. Related, Mitsui Fudosan America, and Oxford Properties Group are developing, and opening is slated for 2018.
L&L Holdings and GreenOak Real Estate have landed a $556 million construction loan for their 47-story, 893-foot-tall office building planned at 425 Park Avenue, in Midtown East. The developers are expanding the existing 32-story building office building to accommodate 670,000 square feet of modern office space. Partial demolition begins this month, and the building is scheduled to open in 2018.
Ash Management has filed applications to renovate and expand the low-rise building assemblage spanning 947-955 Flatbush Avenue and 2-10 Snyder Avenue, in northern Flatbush, into a single three-story, 34,820 square-foot commercial building. The final structure will have retail space on the ground floor and offices above. Gabriel Gingishvili’s MGM Creations is designing.
Eretz Group has acquired the 10-story, 170,000 square-foot office and retail building at 224 West 57th Street — across from Extell’s planned Nordstrom Tower, in Midtown — for $213.8 million. The building is landmarked, and after being acquired for $85 million in 2010, it underwent a $50 million renovation designed by Tirmizi Campbell. Per The Real Deal, the non-profit Open Society Foundations currently leases a majority of the building.
Normandy Real Estate Partners and Princeton Holdings LLC have acquired the 160,000 square-foot low-rise industrial property at 333 Johnson Avenue in East Williamsburg for $26.75 million. The complex will be converted into a mixed-use commercial complex, featuring offices and retail. DNAinfo also reports the inclusion of a 40,000 square feet of outdoor space, and completion is expected in early 2016.