Midtown

550 West 20th Street

Reveal For Conversion Of Eight-Story Correctional Facility At 550 West 20th Street, West Chelsea

10:00 am on October 27, 2015 By Reid Wilson

Back in February of 2014, a number of developers toured the former Bayview Correctional Facility, an eight-story, 100,000 square-foot complex, at 550 West 20th Street, in West Chelsea, after the city issued a request for proposals just months earlier. Now, Empire State Development has awarded NoVo Foundation a 99-year lease to redevelop the property, according to Commercial Observer. NoVo Foundations and the Goren Group plan to transform the building into the Women’s Building, which will house a women’s rights organization. The project will include community space, art installations, and a restaurant.

5 East 59th Street

Nine-Story Building At 5 East 59th Street Getting Office & Retail Conversion, Midtown

12:00 pm on October 26, 2015 By Reid Wilson

GreenOak Real Estate and Capstone Equities are transforming the nine-story, 40,000 square-foot former Playboy Club building at 5 East 59th Street, right around the corner from Central Park, into an eight-story structure fitted for a single commercial tenant, according to Commercial Observer. The building will feature retail and showroom space on the lower levels, and office space on the upper floors. The property was purchased for $85 million over the summer, and Newmark Grub Knight Frank are marketing the building’s lease.

Port Authority Bus Terminal

Port Authority Approves Multi-Billion-Dollar Redevelopment of Midtown Bus Terminal

6:30 am on October 26, 2015 By Reid Wilson

The Port Authority has approved a multi-billion-dollar plan to replace the Port Authority Bus Terminal between 8th and 9th Avenues and West 40th and 41st Streets, in Midtown West, according to the New York Post. The project will cost between $7 and $10 billion dollars, and funding will come from the sale of air rights, residential units, and commercial spaces. A design competition is expected to be held, and a team will be chosen by September of 2016.

550 West 29th Street

Permits Approved for 550 West 29th Street, West Chelsea Mixed-Use Project

6:00 am on October 22, 2015 By Reid Wilson

Earlier this year, developer and architect Cary Tamarkin filed applications for a 12-story, 32-unit mixed-use building at 550 West 29th Street, in West Chelsea. Now, a tipster has informed YIMBY that the project is making significant strides, and building permits have been granted. Highline Development Group is the property owner, and CORE will eventually be handling sales. According to filings with the DOB, the building will measure 55,368 square feet, and will include a 5,065 square-foot retail component on the ground floor. Above, residences will average 1,572 square feet apiece. Demolition of the site’s former occupant was completed over the summer.

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