L+M Development Partners is moving forward with an unknown development at 23-32 Park Row, in the Financial District. Last week, YIMBY forumers posted that demolition permits have been approved to take down the four-story building at 23-27 Park Row, the five-story property at 29 Park Row, and the five-story structure at 31-32 Park Row. All the buildings were formerly used as commercial-retail space and demolition can commence as soon as the structures are prepped. The property assemblage consists of a 17,855 square-foot plot with just under 150 feet of street front on Park Row. The site can accommodate 267,825 square feet in development potential as-of-right, according to our calculations, and it could sprout an office or hotel building with retail space, or a mixed-use project with residential units.
The five-story mixed-use building at 25 Mercer Street and the three-story property at 27 Mercer Street, located in the SoHo-Cast Iron Historic District, are expected to be converted into a single five-unit condominium building, according to Curbed NY. There will be four full-floor units and a duplex penthouse, and the residences are expected to hit the market this spring. GDS Development is developing and Fogarty Finger is designing the project, dubbed 25 Mercer. Alterations that would go into the conversion would have to be approved by the Landmarks Preservation Commission since the property is located within a historic district.
Early last year, YIMBY brought you conceptual renderings of the possible supertall mixed-use tower that could rise at 42 Trinity Place, in the Financial District. Now the developer, Trinity Place Holdings, reached a deal with the city’s School Construction Authority (SCA) to build an elementary school in the base of the building, Tribeca Trib reports. The public school will boast 476 seats and a design is expected to be released of it this upcoming summer. In 2013, the city put forth $27.5 million in its budget to build a new school in the Financial District. The scope of the entire project has yet to be revealed, but it could potentially measure upwards of one million square feet and have retail, hotel, and residential components. Multiple buildings must first be demolished.
Over the summer summer, YIMBY partially revealed renderings for the planned 25-story, 115-unit residential building at 565 Broome Street (a.k.a 100 Varick Street), in Hudson Square. The developers have now secured a $320 million construction loan for the project, according to Crain’s, and Cindat (the U.S. branch of Beijing-based China Cinda Asset Management Co.) also acquired a $135 million stake in the project. The development team – SHVO, Bizzi & Partners Development, Halpern Real Estate Ventures, Aronov Development, and Itzhaki Acquisitions – recently acquired the two-story annex at 555 Broome for $9 million, completing the assemblage.
YIMBY last brought you news of Three World Trade Center, at 175 Greenwich Street in the Financial Distinct, in August when we revealed the height of the 80-story office tower was reduced to 1,079 feet. Since then, when the concrete core had reached roughly the half-way point, the tower has risen significantly, as seen in photos by Tectonic. The core is now closing in on the neighboring Four World Trade Center, which stands 977 feet in height. Steel work is occurring roughly halfway up the tower, and fireproofing and glass installation is taking place on the lower levels. There will be 150,000 square feet of retail space across five floors in the 2.8-million-square-foot building. Silverstein Properties is developing the tower, Rogers Stirk Harbour + Partners is designing it, and completion is expected in 2018.