DNA Development has acquired, for $37.2 million, the seven-story parking garage at 12 West 48th Street, located mid-block between Fifth and Sixth avenues in Midtown. The developer is planning to build an unspecified amount of boutique retail space, Real Estate Weekly reported. The 7,531-square-foot property can accommodate up to 90,372 square feet of mixed-use development as-of-right and is zoned for residential, commercial, and community facility space. If the developer follows through with a solely commercial building, up to 75,310 square feet of space can be built. New building applications haven’t been filed, although demolition permits were submitted in June. Completion is expected in early 2018.
The first preliminary renderings have been revealed of the planned mixed-use commercial conversion of the eight-story, 115,000-square-foot Coney Island Theater Building (a.k.a. Shore Theater), an individual landmark at 1301 Surf Avenue, located on the corner of Stillwell Avenue on Coney Island. PYE Properties currently plans to transform the property into retail space and a hotel, while restoring the existing theater, which has been rapidly deteriorating, to an entertainment venue, Brooklyn Daily reported. Office and community space may also be included, depending on the tenants that show interest. Alteration permits haven’t yet been filed with the Buildings Department. Since the building is a landmark, the Landmarks Preservation Commission must approved any exterior alterations. PYE acquired the Shore Theater in January for $20 million. The Coney Island-Stillwell Avenue stop on the D/F and N/Q trains is across the street.
Brooklyn-based property owner Leonid Pinkhasov has filed applications for a three-story, three-unit residential building at 8516 Avenue J, in Canarsie. The structure will measure 5,346 square feet and its full-floor residential units should average 1,388 square feet, indicative of family-sized configurations. Amenities include storage space in the cellar and three off-street parking spots. The 45-foot-wide, 4,827-square-foot property is partially occupied by a two-story, two-unit townhouse at 8514 Avenue J. The 1,977-square-foot building will be renovated as part of the project. Long Island City-based Carusone & Cherres Architects is the architect of record. The property was subdivided into two tax lots in May.
Midtown East-based real estate law firm Rosenberg & Estis has filed applications for a six-story, single-family townhouse at 162 East 83rd Street, on the Upper East Side. The mansion will boast 8,181 square feet of residential space, although up to 9,040 square feet is allowed. NoMad-based Deborah Berke & Partners is the architect of record. The 19-foot-wide, 2,235-square-foot property is currently occupied by a five-story, two-duplex-unit residential building. Demolition permits haven’t been filed. The property traded for $7.3 million back in July of 2015. The previous owners were asking $9.75 million for the building, according to an old advertisement by Massey Knakal.
Kew Gardens-based M Development has filed applications for a four-story, seven-unit residential building at 194 Ainslie Street, in central Williamsburg. The structure will measure 6,570 square feet and its residential units should average 714 square feet apiece, indicative of rental apartments. There will be one unit on the ground floor, which will also feature space in the cellar, followed by two units per floor on the upper three. Private residential storage space will be located in the cellar. Emmanuel Katerinis’s Astoria-based SM Studio Inc. is the architect of record. The 25-foot-wide, 2,500-square-foot property is currently occupied by a two-story townhouse. Demolition permits were filed in June. The Lorimer Street Station on the L train is located four blocks away.