KBS Capital has entered into contract with Onyx Equities to acquire an 80 percent stake in the Church of St. John the Baptist, a two-story, 23,110-square-foot structure at 210 West 31st Street in Chelsea. KBS and Onyx plan to convert the structure into roughly 30,000 square feet of retail space, The Real Deal reported. The space will be divided between three units, all with space on the ground floor and additional space on the cellar and second levels. A roof patio could also be constructed. KBS is set to pay $39.8 million for the stake. A timeline regarding the sale or construction has not been disclosed. Alteration permits have not been filed at this time.
It was just weeks ago that The Bryant, a new building along the southern edge of Bryant Park, celebrated its topping out. YIMBY recently went all the way up to the penthouse terraces to check out the view. The Bryant, located at 16 West 40th Street, is a hybrid: the base contains 230 hotel rooms and, starting on the 16th floor, there will be 57 condominium units. Joining their lobbies on the ground floor will be a restaurant. HFZ Capital Group is the developer.
When plans were filed to build a medical office building on the site of a late 19th century bank in East New York, neighbors rallied to try and save the neglected Renaissance Revival bank. But they were too late. The building already had demolition plans on file, which meant that the city could not give it landmark protections. Now we’re checking in on the construction of its replacement at 101 Pennsylvania Avenue, with photos from Tectonic.
Construction is close to topping out on the six-story, 37-unit mixed-use building under development at 23-01 41st Avenue, located on the corner of 23rd Street in the Queens Plaza section of Long Island City. Progress can be seen thanks to an update by The Court Square Blog. The latest building permits indicate the structure will measure 42,367 square feet and rise 60 feet to its roof, not included the bulkhead, when complete.
The Hip Hop Hall of Fame has revealed plans to develop the Hip Hop Hall of Fame Museum & Hotel Building, a mixed-use structure that will include a museum, retail space, an entertainment complex, and a five-star hotel. Specific details have not been disclosed in terms of the scope of the project, but an preliminary rendering depicts a mid-rise structure. The organization will choose between two undisclosed sites, both of which are located in Manhattan and benefit from tourism and good transit, Real Estate Weekly reported. The Hip Hop Hall of Fame is currently seeking development partners for the project. Completion is anticipated in 2019.