Downtown

Pier 40

Request For Proposals Launched For Pier 40’s Design Phase, Hudson Square

Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.


2 Rector Street

Plans For 452-Unit Rental Conversion Of 26-Story Office Building At 2 Rector Street Abandoned, Financial District

During the summer of 2015, Kushner Companies and CIM Group filed plans with the Department of City Planning to convert the 26-story, 466,000-square-foot office building at 2 Rector Street, in the Financial District, into 452 rental apartments. The developers are now abandoning those plans and are in contract to sell the office building to Cove Property Group for roughly $225 million, according to the New York Post. The sale comes three years after Kushner and CIM acquired the property for $140 million. The new owners plan to continue leasing the property to commercial tenants. It was 84 percent occupied in 2015, by multiple tenants.


77 Greenwich Street, revised design.

Less Overhang Paves Way for Landmarks Approval of Mixed-Use Tower at 77 Greenwich Street

A 35-story mixed-use project in the Financial District can now go forward, thanks to approval from the Landmarks Preservation on Tuesday. The project is at 77 Greenwich Street (a.k.a. 42 Trinity Place) and needed LPC approval because it would cantilever over the Robert and Anne Dickey House, an individual landmark immediately to the south at 67 Greenwich Street (a.k.a. 28-30 Trinity Place). The changes to the design weren’t too dramatic and one of them was described as a “no-brainer” by the LPC chair.

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438 East 12th Street

Six-Story, 82-Unit Mixed-Use Building Rises At 438 East 12th Street, East Village

Last month, new renderings surfaced of the six-story, 82-unit mixed-use building under development at 438 East 12th Street, in the East Village, and now EV Grieve reports the East 12th Street-facing side of the structure is five stories above street level. The 151,943-square-foot project will eventually grow to reach the corner of East 11th Street and Avenue A. As reported, there will be 8,376 and 961 square feet of ground-floor retail and medical office space, and its 82 condominium units should average 1,315 square feet apiece. The varying unit configurations and amenities are listed in our previous post. Douglas Steiner is the developer, Perkins Eastman affiliate S9 Architecture is the design architect, and Paris Forino is designing the interiors. Completion is expected in 2017.


225 Bowery

Reveal For 14-Story, 200-Key Ace Hotel Redevelopment At 255 Bowery, Lower East Side

Developers Omnia Group and North Wind Group are working to transform the 10-story, 55,000-square-foot former Salvation Army shelter at 225 Bowery, on the Lower East Side, into a 14-story, 200-key Ace Hotel. Bowery Boogie now has renderings of the project, which would expand the building by four stories. The expansion comes at the expense of a three-story, 8,300-square-foot structure at 223 Bowery, which was demolished this past January. Once the property is redeveloped, the ground floor will host the hotel lobby, a 130-seat restaurant, and retail space. There will also be a bar on the 11th floor, along with a roof terrace and a gym. HAKS is designing and is serving as the architect of record. The building was purchased for a little more than $30 million back in 2014.


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