A year ago, Lalezarian Properties put a pair of four-story buildings on Charlton Street in Hudson Square on the market for $50 million. No one paid that hefty price, and now principal Kevin Lalezarian has decided to develop the site between Hudson and Greenwich Streets himself.
Yesterday, the New York Times reported that 550 Washington Street would soon traverse ULURP as its owners, Westbrook Partners and Atlas Capital Group, want to redevelop the existing building in exchange for air rights from the failing Pier 40, which would also be saved. And now YIMBY has the first look at massing diagrams of the proposed plans, which reflect both the as-of-right redevelopment option, as well as what the site would look like if the ULURP application is approved.
Just over a year ago, applications were filed for a 10-story, 56-key hotel building at 219 Hudson Street, in Hudson Square, and since then, the DOB has disapproved of the plans. But now, developer Rafi Gibly has recently sold the development site to Brooklyn-based developer Joel Braver in a $13.2 million deal. It’s not known if the old plans will be reused. The previous plans included a penthouse residential unit, and Rawlings Architects filed for the permit. [The Real Deal]
Back in June, complete renderings were revealed of Extell Development’s 22-story, 114-unit mixed-use building underway at 70 Charlton Street, in Hudson Square, and now the structure is up to the 12th floor, per Curbed, courtesy of Tectonic. The through-block development will contain 2,830 square feet of ground-floor retail space, and a mix of condo and affordable rental units — 92 and 22, respectively — will occupy the floors above. Beyer Blinder Belle is designing, and occupancy is expected in late 2016.
In May of 2014, YIMBY brought you renderings of TEN Arquitectos’ conceptual plans for the St. Johns Terminal building at 550 Washington Street, in Hudson Square. At the time, multiple owners complicated the redevelopment of the 1.1-million square-foot structure, which has 280,000 square feet of air rights, but now Westbrook Partners has bought out Fortress Investment Group’s ownership stake for more than $200 million, according to Crain’s. Atlas Capital Group, who tried to acquire additional air rights from Pier 40 last year, will retain their minority stake. Plans include a new residential tower, which may be built ground-up or as a conversion/expansion, but city approval is required before construction can begin.