Property Markets Group

44-Story Residential Tower Nearly Halfway Up At 23-10 Queens Plaza South, Long Island City

6:00 am on July 15, 2015 By Reid Wilson

Nearly a year ago, construction kicked off at 23-10 Queens Plaza South — aka 23-01 42nd Road, in Long Island City — where Property Markets Group is developing a 44-story, 391-unit residential tower, with 30,650 square feet of office space on the third floor. Now the building is up to the 20th floor, according to The Court Square Blog, and glass is quickly encasing the structure. SLCE Architects is the architect of record, and completion is likely in 2016.

Tallest Freestanding Tower Crane in NYC History Up at 111 West 57th Street

8:00 am on July 14, 2015 By Nikolai Fedak

The past few months have seen construction kick into high gear at several sites along and adjacent to the 57th Street corridor, and now 111 West 57th Street will join the pack. Interior demolition and excavation began last year, and now the tower’s crane has arrived on-site, signaling its impending verticality.

Residential Development Site At 253-255 3rd Avenue Expands, Gramercy

11:00 am on July 10, 2015 By Reid Wilson

Last Summer, Apex Real Estate Investments acquired the three-story buildings spanning 253-255 3rd Avenue, in the Gramercy, and now the firm has purchased the buildings at 257-259 3rd Avenue for $15.7 million. According to Commercial Observer, initial plans were to build a 25-unit residential building with affordable units at Nos. 253-255, but it seems the site has been expanded. Bonus air rights are also available with the inclusionary housing bonus, but the rights will apparently be transferred elsewhere.

111 West 57th Street Lands $725 Million In Financing

6:00 am on July 1, 2015 By Reid Wilson

JDS and PMG’s 82-story, 60-unit condominium tower at 111 West 57th Street, in Midtown, has received a $725 million construction loan, thanks to AIG and Apollo Global Management. SHoP Architects is designing, and the supertall is now expected to stand 1,438 feet to its pinnacle. The existing Steinway building is being partially demolished, and foundation work is currently underway, with completion slated for 2018, according to Crain’s Business. In April, YIMBY brought you new renderings of the project.

PMG’s 19-Story Condominium Project at 548 West 22nd Street Revealed

6:00 am on April 23, 2015 By Reid Wilson

Back in January, YIMBY brought you news of a 19-story, 26-unit condominium development at 548 West 22nd Street, in West Chelsea. Now, Curbed has the reveal for the project, which is being designed by Annabelle Selldorf. Property Market Group and Harch Group are expanding upon the existing four-story building, which will remain as the structure’s base.

Long Island City’s Vacant Clock Tower Building to Undergo Commercial Renovation

11:00 am on April 22, 2015 By Reid Wilson

The vacant 10-story clock tower at 29-27 Queens Plaza North, in Long Island City, will likely be landmarked in the coming weeks, according to DNAinfo. The property owners, Hakin Organization and Property Markets Group, plan to renovate the building to accommodate office space, and possibly retail. The owners are also planning the development of a 77-story, 930-unit mixed-use building at the adjacent lot 29-37 41st Street.

New Look: 111 West 57th Street Gets a Slew of Fresh Renderings

10:30 pm on April 5, 2015 By Nikolai Fedak

111 West 57th Street’s excavation progress was recently featured on YIMBY, and since then, a new exterior rendering surfaced on Curbed, along with the new teaser site. Thanks to a tipster, YIMBY can now reveal a slew of interior and exterior renderings for the SHoP-designed supertall tower, which is being developed by JDS and Property Markets Group.

Construction Update: 111 West 57th Street, Excavation Ongoing

10:15 pm on March 2, 2015 By Stephen Smith

In the early 20th century, after the Tenement House Act of 1901 was passed, the new law tenement emerged as the dominant building form in Upper Manhattan. Whereas an old law tenement could be built on a…

New Look: 111 West 57th Street Gets Nighttime Renderings

10:25 pm on February 26, 2015 By Nikolai Fedak

At a recent talk for the Southern California Institute for Architecture entitled “Never, Ever, Don’t,” SHoP principal Gregg Pasquarelli discussed several of the firm’s upcoming projects, including 111 West 57th Street. JDS Development and Property Markets Group are…

548 West 22nd Street, image from Property Shark

257-Foot Condo Tower Planned for 548 West 22nd Street, West Chelsea

12:00 pm on January 21, 2015 By Stephen Smith

In June, The Real Deal reported that Property Markets Group and the Harch Group had closed on a piece of property West Chelsea at 548 West 22nd Street, just one lot in from West Street,…

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