Midtown



41-43 West 47th Street

Developer Moves Forward with Mixed-Use Development Assemblage at 41-43 West 47th Street, Midtown

Developer Boris Aronov has received the green light to demolish the five-story, seven-unit mixed-use building at 41 West 47th Street and the seven-story commercial building at 43 West 47th Street, in Midtown. No new building applications have been filed with the Department of Buildings, nor has the developer disclosed their plans for the site, DNAinfo reports. As is, the two-property development assemblage could accommodate up to 60,240 square feet of mixed-use development. A future development could include up to 50,200 square feet of residential space with a commercial component, or could take the form of a hotel or office building. Before the structures can be demolished, multiple commercial-retail tenants, in addition to possibly multiple residential tenants, must vacant the properties.

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220 West 57th Street

Retail Renovation Planned at Four-Story, 21,800-Square-Foot Commercial Building, 220 West 57th Street, Midtown

Back in 2014, Thor Equities and General Growth Properties were in contract to acquire the four-story, 21,837-square-foot commercial-retail building at 220 West 57th Street, in Midtown. Now, the developers are expecting to close on the property – an individual landmark dubbed the Society House of the American Society of Civil Engineers – for $85 million in June, according to The Real Deal. Its existing tenant, Lee’s Art Shop, is in the process of moving out, probably in time for the sale, DNAinfo reports. The new owners plan to renovate the building into luxury retail space. Any exterior alterations to the building will have to be approved by the Landmarks Preservation Commission. The property comes with 104,160 square feet of air rights.

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24-30 West 39th Street

Developer Moves Forward on Commercial Site at 24-30 West 39th Street, Midtown South

Fortuna Realty Group has filed permits to demolish the four five-story commercial buildings spanning 24-30 West 39th Street, in Midtown South. The hotel developer acquired 24-28 West 39th Street for $18.3 million in 2014, DNAinfo reports, although it has not yet officially acquired 30 West 39th Street. Plans for the site have not been disclosed, but the assemblage could accommodate up to 86,620 square feet of commercial space. That means a hotel, office building, or a community-facility-based project could eventually be built. A few tenants must first vacate the premises before the building can be demolished.

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