Vanbarton Group is in contract to acquire the six-story, 115,000-square-foot mixed-use building, formerly home to the Tribeca Film Festival, at 13-17 Laight Street, in TriBeCa, for $90 million. The group plans to convert the building into a retail, office, and “lifestyle facility” space, the New York Post reported. Vanbarton is in the process of buying out all of the property’s existing commercial and residential tenants. The 13,867-square-foot lot also comes with 10,530 square feet of air rights, although it’s not known if an expansion is planned.
The four-story, 60,000-square-foot industrial building at 47-16 Austell Place, in southern Long Island City, has recently been converted for a variety of commercial uses, according to Commercial Observer. It hosts 10,000 square feet of ground floor retail space, of which a food café has already leased a portion. The floors above, with floor plates of 16,000 square feet, are geared towards office tenants and community facility uses. Joffrey Ballet Center, a dance school, has leased the fourth floor. Upgrades made to the building include renovations to the interior, a new roof, a revitalized façade with new windows, and a redesigned lobby. A rooftop lounge with landscaping is also being built and is expected to be complete in early 2017. The Vanbarton Group, which purchased the property for $7.7 million in 2015, is the developer. Montroy Andersen DeMarco is the architect.
Property owner Vanbarton Group is currently renovating the 16-story, 135,533-square-foot commercial-office building at 45 West 45th Street, in the heart of Midtown. Progress on the work being done on the interior can be see in a Commercial Observer report. The property, which was last renovated in the 1980s, will see its lobby redesigned with increased lighting and new finishes, and it will receive façade restoration. The office floors above are getting their dividing walls demolished, modernizing and enhancing the flow of the floor plates. Significant repairs are also being done to fix the floors and ceilings, which were revealed to be crumbling. Mechanical equipment, like elevators, is being replaced with new appliances. Probably the most exciting upgrade is an outdoor roof deck and lounge. A restaurant is also planned to occupy as much as 16,346 square feet of space on the ground, mezzanine, and lower levels. The work is being done in three phases, with the last expected to be complete by spring of 2017. Spivack Architects is the architect of record.