Midtown

Four-Story, 35,000 Square-Foot Retail Project Planned At 257-263 West 34th Street, Midtown

6:00 am on January 26, 2016 By Reid Wilson

Cornell Realty Management is planning to build a four-story, 35,000 square-foot retail project at 257-263 West 34th Street, in the Garment District, according to Crain’s New York Business. According to The Real Deal, which reported on the assemblage last month, Chetrit Group and Cornell Realty acquired the three-story retail building at 261-263 West 34th Street together last March for an undisclosed amount. 259 West 34th Street was also recently acquired for $20.5 million. Chetrit and Cornell have since cut their partnership and, through a deal, have split their properties into separate ownerships. Cornell’s retail project will be clad in glass and construction is expected to begin sometime this year. A total of three small retail buildings must first be demolished.

Ziegfeld Theater To Be Converted Into An Event Venue At 141 West 54th Street, Midtown

6:00 am on January 22, 2016 By Reid Wilson

The Ziegfeld, a 1,300-seat, single-screen movie theater at 141 West 54th Street, between Sixth and Seventh avenues in Midtown, is expected to be transformed into an event venue, according to the New York Post. The converted building, to be renamed Ziegfeld Ballroom, will offer a column-free, 10,000 square-foot ballroom, meetings rooms on a mezzanine level, and “advanced electronic facilities.” The well-known movie theater will close within the next few weeks, at which time its tenant, Cablevision, will cut operations. The conversion is expected to be complete in 2017. Fisher Brothers is the building’s leaseholder.

1185 Broadway, October 2014. Photo via Google Maps.

40-Story, 164-Key Viñoly-Designed Extended-Stay Hotel Planned at 1185 Broadway, NoMad

10:49 am on January 21, 2016 By Evan Bindelglass

Permits were filed Thursday for a 40-story-tall, 164-key hotel at 1185 Broadway, at the northwest corner of West 28^th Street, in NoMad/Midtown South. The site’s single-story commercial building, with six businesses, was demolished in 2015, and this will be a big change for the property.

88 & 90 Lexington Avenue, January 13, 2016. All photographs by Evan Bindelglass unless noted.

Touring The Residential Conversion Underway at 88 & 90 Lexington Avenue

8:00 am on January 21, 2016 By Evan Bindelglass

Two buildings, one destination. That’s what’s going on at 88 & 90 Lexington Avenue, between East 27th and 26th streets in Manhattan’s Gramercy area. Two buildings – 88 Lexington Avenue, built in 1927, and 90 Lexington Avenue, built in 1958 – are being converted into luxury condominiums by HFZ Capital Group, with workshop/apd as designer. We stepped inside last week to see how the conversion is going.

Ground-Floor Retail Planned In 20-Story Office Building At 601 West 26th Street, West Chelsea

11:00 am on January 20, 2016 By Reid Wilson

RXR Realty is planning to convert the ground floor of the Starrett-Lehigh Building – a 20-story, 2.3-million square-foot office building at 601 West 26th Street, in West Chelsea – into 50,000 square feet of retail space. The building, built in 1931 and designed by Cory & Cory, is an individual landmark and sits within the West Chelsea Historic District, which means the Landmarks Preservation Commission must approve the plans. According to Crain’s, new retail will span the full length of Eleventh Avenue between West 26th and 27th Streets. Verizon previously occupied the ground and second floors of the property along Eleventh Avenue but agreed to relocate within the building. An architecture firm has not been selected, although construction is tentatively expected to begin next year.

Financing Secured For 16-Story, 618-Key Hotel Conversion At 485 Seventh Avenue, Garment District

4:00 pm on January 18, 2016 By Reid Wilson

In March of 2015, the Landmarks Preservation Commission approved alterations that would go into converting the 16-story, 235,000 square-foot office building at 485 Seventh Avenue, at the corner of West 36th Street in the Garment District, into a boutique hotel. The property, an individual landmark, was completed in 1907 as the Mills Hotel No. 3, a male-exclusive, 1,885-unit single-room occupancy residential hotel. The Lightstone Group is planning to convert the property into a 618-key MOXY Hotel by Marriott, and Commercial Observer reports $330 million in financing was secured for the project. Retail space and a restaurant will be located each on the ground and second floors. Stonehill & Taylor Architects is the architect of record.

Developer Begins Demolition At Fifth Avenue-West 46th Street Assemblage, Midtown

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

Gary Barnett’s Extell Development is moving forward with an unknown project on the corner of Fifth Avenue and West 46th Street, in Midtown’s Diamond District. Curbed NY reports the developer recently filed demolition permits for six five-story commercial buildings spanning 3-13 West 46th Street. The row of buildings are currently masked with black netting, which means demolition should begin soon.

Work at 38 West 33rd Street. Photo by Tectonic.

Scope Grows As Construction Underway At Torkian Group Project On West 33rd Street, Midtown South

7:00 am on January 15, 2016 By Evan Bindelglass

It was way back in September of 2014 that YIMBY reported on filings for a new residential building at 38-46 West 33rd Street (a.k.a. 38 West 33rd Street), in Midtown South. Then in June of 2015, we revealed a rendering of the project. In September, the Torkian Group development got financed by a $105 million loan. Now, the project’s scope is slightly bigger and construction is underway, which we can see in a pair of photos sent to us by our friend Tectonic.

63-Story, 94-Unit Residential Tower Tops Out At 100 East 53rd Street, Midtown East

1:00 pm on January 14, 2016 By Reid Wilson

RFR Realty’s 63-story, 94-unit luxury residential tower at 100 East 53rd Street has been rising since early last year, with in-depth renderings of it being revealed later that fall. The tower has since topped out at 711 feet above street level, according to Curbed. Units will come in one-, two-, three-, and four-bedroom configurations, and one of the two four-bedroom duplexes will be a 6,517 square-foot penthouse. The first two floors will house a food court and a restaurant, and floors three and four will host amenities. Hines and Vanke are partnered with RFR, and Foster + Partners is the design architect. William T. Georgis is designing the interiors and SLCE Architects is serving as the architect of record. Completion is expected in early 2017.

25,000 Square-Feet Of Retail Planned In Hotel-Condo Conversion Of Sony Tower, 550 Madison Avenue, Midtown

3:00 pm on January 12, 2016 By Reid Wilson

Early last month, the first rendering surfaced of Chetrit Group’s planned hotel-condo conversion of the 37-story, 855,000 square-foot office building at 550 Madison Avenue, between East 55th and 56th Streets in Midtown. Sony Tower’s 14th through 20th floors will be converted into a 170-key and will be operated by Oetker Collection Masterpiece Hotels. The 21st through 43rd floors will be converted into 113 condominiums, but Real Estate Weekly now has details on the three stories of redesigned retail at the bottom of the building. The retail space, formerly occupied by Sony, will measure 25,451 square feet in total and will be split into four separate leases. Robert A.M. Stern is designing, and completion of the conversion is expected in early 2018.

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