Midtown

301 First Avenue

Developer Considering Residential Project at Site Of 24-Story Apartment Tower, 301 First Avenue, Gramercy

CIM Group has entered into contract to purchase, for nearly $90 million, the vacant 24-story, 156-unit apartment building at 301 First Avenue, located on the corner of East 17th Street in Gramercy. The future owners of the 200,000-square-foot tower are floating plans to either renovate the property into rental apartments or demolishing it for a new condominium building, The Real Deal reported. The 13,248-square-foot lot is currently overbuilt under present-day zoning laws. The building was built in 1969 to house Mount Sinai Beth Israel medical personnel and was vacated in the summer of 2016.


2017 Skyscrapers

2017 New Construction Report: Building Applications Crash, Down 38 Percent Since 2015

New building applications for single and multi-family residential developments in New York City saw a major slowdown in 2016, as the fading boom following the changes that occurred at the Department of Buildings in 2014 began to slack further. Numbers have plunged by over half since 2014, and by 38 percent since 2015. The full report with spreadsheets covering every new building application is available at the research store.

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515 West 29th Street

11-Story, 12-Unit Mixed-Use Building Tops Out at 515 West 29th Street, Chelsea

The 11-story, 12-unit mixed-use building under construction at 515 West 29th Street, in West Chelsea, has topped out. Progress on the project, which includes façade installation, can be seen thanks to photos posted to the YIMBY Forums. The latest building permits indicate the structure, built up from an existing six-story factory, encompasses 36,876 square feet and rises 135 feet in height. It will include 1,698 square feet of retail space across the cellar and ground floors, followed by 12 condominiums across the second through 11th floors. The apartments should average a spacious 2,932 square feet apiece. Bauhouse Group is the developer. SCDA Architects is the design architect and S.M. Berger Architecture is the architect of record.



247 West 42nd Street

Renovation Planned for Four-Story, 240,000-Square-Foot Retail Building at 247 West 42nd Street, Midtown

Tishman Realty is planning a $65 million renovation on the four-story, 240,000-square-foot commercial-retail building at 247 West 42nd Street, in the Times Square section of Midtown. The 400-foot-long structure, which includes the retail space under the Westin Hotel at the corner of Eighth Avenue, will receive a more streamlined and modern façade, with billboard advertisements. The property owner plans to keep some existing tenants while replacing others, Crain’s reported. Construction is expected in 2018, with occupancy anticipated in 2019.


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