Extell Development is in contract to purchase the single-story grocery store at 350 East 86th Street, on the Upper East Side, for $100 million, Crain’s reports. The developer also owns neighboring sites, and can build a 20-story, 230,000 square-foot condominium building, with 200 units and retail space. The acquisition is expected to close next year, also when Gristedes’ lease expires. Extell’s plans have yet to be disclosed, and assemblage could be expanded with further acquisitions.
The head of the Midtown-based law firm King & Spalding has filed applications for a six-story, six-unit residential building at 316 East 81st Street, on the Upper East Side, in Yorkville. The building will measure 11,660 square feet in total, and units will likely be condominiums, averaging 1,943 square feet apiece. Issac & Stern is designing, and an old three-story townhouse must first be demolished; the building was purchased in 2012 for $3.2 million.
Merchants Hospitality and Maplewood Senior Living are co-developing a 29-story, 213,000 square-foot residential facility for seniors at the corner of 2nd Avenue and East 93rd Street, in northern Yorkville. According to the New York Post, the four- and five-story tenement buildings spanning the lots 1802-1810 2nd Avenue and 303-305 East 93rd Street were acquired for a total $111 million over the course of two years. The buildings are expected to be demolished.
The Lightstone Group has acquired the six-story, 40-unit rental building at 40 East End Avenue, in Yorkville, for $34 million, and plans to demolish the building for a condominium project. According to Commercial Observer, the new building will stand 18 stories and have 30 condo units, although applications have yet to be filed with the DOB; Deborah Berke Partners is designing.
Per Curbed, Corigin Real Estate Group’s 17-story, 43-unit condominium building, at 20 East End Avenue, in Yorkville, is now rising and up to the second floor. Sales launched in January and 30% of the building’s units have been sold. Robert A.M. Stern is designing, and completion is expected in mid-2016.