Downtown

Retail Developer in Contract to Purchase Four-Story J.P. Morgan & Co. Building at 23 Wall Street, Financial District

2:00 pm on August 31, 2016 By Reid Wilson

JTRE Holdings is in contract to acquire the four-story J.P. Morgan & Co. Building at 23 Wall Street, located at the corner of Broad Street in the Financial District, for an undisclosed sum of less than $150 million, the New York Post reported. The structure, an individual landmark, has long been used as an office building, once housing the private offices of J.P Morgan himself. The 160,000-square-foot building currently sits vacant. Plans have not been disclosed for the property, although the developer specializes in retail. The Landmarks Preservation Commission must approve any exterior alterations. A 2015 proposal for a multi-function entertainment venue never came to fruition.

On-site rendering of 118 Fulton Street. Captured by Robert Walpole

Foundation Work Underway for 49-Story, 483-Unit Mixed-Use Tower at 118 Fulton Street, Financial District

6:30 am on August 31, 2016 By Reid Wilson

Foundation work is well underway, now that concrete has been poured, for the planned 49-story, 483-unit mixed-use tower under development at 118 Fulton Street, in the Financial District. The construction progress can be seen thanks to a photo posted to the YIMBY Forums. The new building will eventually encompass 510,928 square feet and stand 574 feet above street level, as YIMBY reported back in July, when an updated rendering was revealed. There will be 5,366 square feet of commercial-retail space across the ground and second floors. The residential units, rental apartments, should average 975 square feet apiece, and will be accompanied by a slew of amenities. Carmel Partners is the developer and SLCE Architects is the architect of record. Completion can probably be expected in 2018.

Eight-Story, Seven-Unit Residential Project Filed at 298 East 2nd Street, East Village

6:00 am on August 31, 2016 By Reid Wilson

The Lee Properties Group has filed applications for an eight-story, seven-unit residential building at 298 East 2nd Street, in the Alphabet City section of the East Village. It will measure 14,832 square feet and its residential units should average 1,967 square feet apiece, indicative of condominiums. There will be a duplex apartment across the ground and second floors, followed by full-floor apartments on the third through eighth floors. Storage space for four bikes will be located on the ground floor. Hudson Square-based Zakrzewski + Hyde Architects is the architect of record. The 25-foot-wide, 2,649-square-foot property traded for $7.03 million in October of 2015, after being placed on the market for $8.5 million in 2014. A single-story warehouse must first be demolished. Permits were filed to raze the structure in April.

Three Townhouses at 36-40 West 10th Street to Be Transformed Into Single-Family Mansion, Greenwich Village

11:00 am on August 30, 2016 By Reid Wilson

Media billionaire Sean Parker, of Naptster fame, has acquired, for an undisclosed amount, the five-story townhouse at 36 West 10th Street, in Greenwich Village. Parker also currently owns the five-story townhouse at 38 West 10th Street and the three-story townhouse at 40 West 10th Street. He plans to combine the three properties into a single-family mansion, the New York Post reported. The townhouse in the latest acquisition is currently under renovation and was set to be marketed for roughly $22 million. The assemblage is located within the Greenwich Village Historic District, which means the Landmarks Preservation Commission must approve any exterior alterations.

703 Washington Street, image via Google Maps

Permits Filed: 703 Washington Street, West Village

3:00 pm on August 29, 2016 By Rebecca Baird-Remba

A pair of condo buildings is set to replace two stories of retail and office space on a sleepy residential block in the West Village. New building applications were filed over the weekend to erect two connected six-story buildings at 703 Washington Street, on the corner of Perry Street and a block east of the West Side Highway.

Foundation Work Complete for Essex Crossing’s 25-Story, 195-Unit Mixed-Use Tower, 115 Delancey Street, Lower East Side

2:00 pm on August 24, 2016 By Reid Wilson

Foundation work appears to be complete for the 25-story, 195-unit mixed-use building being developed as part of the Essex Crossing mega-development, at 115 Delancey Street, on the Lower East Side. A tower crane was also installed at the site, the Lo-Down reported, which means vertical growth is imminent. The latest building permits indicate the structure will encompass 498,688 square feet and stand 285 feet above street level. The building will have 139,493 square feet of commercial-retail space – in addition to bel0w-grade space that isn’t counted in documents — spread across the cellar through fourth floors. The cellar level, the ground floor, and mezzanine levels will contain retailers, including the new home of the Essex Street Market. This portion will form a third of the Market-Line, a bi-level, 150,000-square-foot retail complex that will connect below-grade to two other buildings in the Essex Crossing development.

29-Story, 250-Key Hotel Building Tops Out at 6 Water Street, Financial District

2:00 pm on August 22, 2016 By Reid Wilson

Since being eight stories in height when YIMBY checked in last October, the 29-story, 250-key hotel under development at 6 Water Street — located at the corner of Moore Street in the Financial District — has topped out. The construction progress can be seen thanks to a photo posted to the YIMBY Forums. The latest building permits indicate the 298-foot-tall structure measures 125,684 square feet. Guest amenities at the hotel will include storage for 10 bikes, a fitness center, a coffee shop, and a restaurant on the second floor. The hotel rooms will begin on the third floor. The hotel operator is not yet known. Magna Hospitality Group is the developer and Gene Kaufman’s SoHo-based architectural firm is responsible for the design. Since the majority of the hotel’s façade is already installed, completion later this year wouldn’t be surprising.

Rendering of the World Trade Center Performing Arts Center

Demolition Imminent for Temporary World Trade Center PATH Station

8:00 am on August 22, 2016 By Evan Bindelglass

The pieces of the new World Trade Center are finally falling into place. In March, the main concourse of the Santiago Calatrava-designed World Trade Center Transportation Hub, also known as the Oculus, opened. In June, Liberty Park opened and 3 World Trade Center topped out. Last week, the Westfield-operated mall at the Oculus, complete with an Apple Store, opened to the public. And now, it appears demolition is about to begin on the temporary PATH station, paving the way for the new Performing Arts Center to begin construction.

Foundation Work Underway for 30-Story, 298-Key Hotel Project at 143 Fulton Street, Financial District

6:30 am on August 18, 2016 By Reid Wilson

Foundation work is now beginning on the 30-story, 298-key hotel under development at 143 Fulton Street, in the Financial District. Progress on construction can be seen thanks to a photo posted to the forums. The latest building permits indicate the 364-foot-tall tower will encompass 128,690 square feet. It will contain retail space on the ground and second floors, followed by a restaurant on the third, and the hotel component on the fifth through 29th floors. Guest amenities include a fitness center and storage for 11 bikes. It’s not currently known who the hotel operator will be. YIMBY revealed a rendering of the project, being designed by SLCE Architects, back in March. Tribeca Associates is the developer and completion is expected in 2018.

19-Story, 300-Key CitizenM Hotel Tops Out At 185-191 Bowery, Lower East Side

6:00 am on August 18, 2016 By Reid Wilson

Since it was only a single story above street level in January, it appears the structural core of the 19-story, 300-key CitizenM Hotel has topped out at 185-191 Bowery, located near the corner of Delancey Street on the Lower East Side. The rest of the building, currently three stories in height, is slowly rising around the core, as seen in an update by Bowery Boogie. The latest building permits indicate the hotel will stand 224 feet above street level and encompass 99,433 square feet. Its rooms should average 265 square feet apiece and guest amenities will include a fitness center, storage for eight bikes, a lounge & bar in the cellar, a café on the ground floor, and a lounge & bar with a roof terrace on the 19th floor. A 3,383-square-foot public plaza will run along Bowery. Rinaldi Group is the developer and Stephen B. Jacobs Group is behind the design. Completion is expected later this year.

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