New high-rises aren’t a frequent occurrence in Upper Manhattan, but one such project currently rising at 543 West 122nd Street, in Morningside Heights, now has its first renderings. The development will be known as Vandewater, taken from the original Dutch name for the area. Savanna is responsible for the development, and Curbed was the first to reveal the new images.
Savanna has closed on the purchase, for an undisclosed sum, of The Falchi Building, a five-story, 711,000-square-foot commercial building at 31-00 47th Avenue, in Long Island City’s Blissville section. It was earlier reported that the developer was in contract for more than $255 million, Commercial Observer reported. The new owner plans to conduct a $35 million renovation on the property. Retail will be installed on the ground floor, while the office spaces throughout the rest of the structure will be modernized. Improvements include new amenities, upgrades to infrastructure and common areas. The building is currently 90 percent leased.
Construction is up to the third floor on the nine-story, 142,554-square-foot mixed-use commercial building at 540 West 26th Street, in West Chelsea. The latest photos can be seen on the YIMBY Forums. The most recent building permits indicate the project will eventually measure 142,554 square feet and rise 135 feet above street level. The developers have already pre-leased 85,421 square feet across portions of the ground through fifth floors to Avenues: The World School, a private school. The sixth through ninth floors will contain office space and the ground floor will feature an art gallery space. The real estate fund Savanna and the Silvermintz family are developing the building, while Morris Adjmi Architects is designing it. Completion is expected in 2017.
A 15-story residential building is slated to rise over 411 West 120th Street in Morningside Heights. Developers filed plans Friday for a 142-foot-tall, 57-unit project there.
Adaptive reuse is more than a buzzword. It’s one big way for cities to keep their pasts from ending up in landfills. Structures for which the originally intended use is no longer viable are converted for another purpose.