A new loan totaling $4 million has been brokered by HKS Real Estate Advisors for the retail component of One Vandam, a 14-story residential building at 180 Sixth Avenue in Soho, Manhattan. Designed by BKSK Architects, the property completed construction in 2014. The loan was issued by Emerald Creek Capital and sponsor is CRE8 Equities.
Demolition preparations are underway at 156-166 Bowery, the site of a forthcoming seven-story commercial building in Nolita, Manhattan. Designed by Perkins + Will Architects and developed by Kinsman Property Group, a joint venture between Madison Group and State Building Group, the 85-foot-tall structure will yield 72,441 square feet of office space. The 15,000-square-foot property is currently occupied by seven vacant low-rise buildings by the corner of Bowery and Kenmare Street.
Exterior work is progressing on Spring + Thompson, a seven-story mixed-use building at 83 Thompson Street in Soho, Manhattan. Designed by Selldorf Architects and developed by Madison Realty Capital and SK Development, the 75-foot-tall structure will span 26,191 square feet and yield seven condominium units in one- to four-bedroom layouts with an average scope of 3,151 square feet, as well as 2,740 square feet of commercial space, 1,390 square feet of community facility space, and a cellar level. The property is alternately addressed as 182-186 Spring Street and is located at the intersection of Thompson and Spring Streets.
Construction has risen past the halfway mark on 16 Fifth Avenue, a 19-story residential building in Greenwich Village, Manhattan. Designed by Robert A.M. Stern Architects and Hill West Architects and developed by Madison Realty Capital, which purchased the 5,255-square-foot plot for $27.5 million in 2015, the 241-foot-tall structure will yield 20 condominium units. The property is located on an interior lot between East 8th and East 9th Streets, just north of Washington Square Park.
Exterior work is beginning on 525 Sixth Avenue, a 13-story residential building in Greenwich Village, Manhattan. Designed by BKSK Architects and developed by Izaki Group under the 525 6th Ave LLC, the 145-foot-tall structure will span 123,000 square feet and yield 71 condominium units and ground-floor commercial space. The property is alternately addressed as 100-106 West 14th Street and is located at the corner of West 14th Street and Sixth Avenue, just below the border with Chelsea.
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