Midtown

606 West 30th Street

Developer Acquires Yet-To-Be-Rezoned Site At 606 West 30th Street, West Chelsea

12:00 pm on August 10, 2015 By Reid Wilson

Lalezarian Properties has acquired a warehouse at 606 West 30th Street, in West Chelsea, for $36 million. The site currently has roughly 30,000 square feet of development rights, and is zoned for retail or light manufacturing, but the developer is likely waiting on a rezoning that would allow for residential use. The site is located across from the High Line and Related’s multi-skyscraper Hudson Yards development. [The Real Deal]

540 West 38th Street

Chetrit Group To Develop 540 West 38th Street After Receiving Acquisition Loan, Midtown West

3:00 pm on August 5, 2015 By Reid Wilson

After Chetrit Group landed a $60 million acquisition and pre-development loan for their development site spanning 541-545 West 37th Street, in Midtown West, the developer is planning to move forward with their plans, which YIMBY reported on nearly a year ago. The site boasts 373,000 square feet of building potential, and conceptualized as a 50-story mixed-use tower featuring 100 residential units and 350 hotel rooms. Two three-story buildings must first be demolished. 

260 11th Avenue

Seven-Story Otis Elevator Building Slated For Office Conversion, 260 11th Avenue

10:00 am on August 5, 2015 By Reid Wilson

Vornado Realty Trust has purchased the seven-story Otis Elevator Building at 260 11th Avenue, in West Chelsea, for roughly $80 million in stock units, according to Bloomberg Business, and is leasing the land under the building for 99 years. Vornado is planning to convert the building into office space; an expansion is also possible as the building has available development rights.

426 East 58th Street

Air Rights Assembled For 900’+ Condo Tower At 426 East 58th Street, Midtown East

6:00 am on August 5, 2015 By Reid Wilson

Bauhouse Group has acquired 109,000 square feet of additional air rights for their development site spanning 426-432 East 58th Street, in Midtown East, for $37.9 million. The most recently released plans depict a 95-unit Foster + Partners-designed condominium tower, measuring 268,000 square feet and standing over 900 feet tall. The developer is moving forward with an as-of-right project, according to The Real Deal.

460 West 41st Street

Covenant House Planning New Facility, Affordable Housing At 460 West 41st Street, Midtown West

4:00 pm on August 4, 2015 By Reid Wilson

The Covenant House, a facility that caters to homeless youth, is planning to redevelop the small block at 460 West 41st Street, in Hell’s Kitchen, replacing their current eight-story facility, a vacant six-story building, and an undeveloped lot. DNAinfo reports the new building will house Covenant’s new national headquarters facility, in additional to a large residential portion that’s 40% affordable and includes 100 units of supportive housing.

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