Sam Chang’s Great Neck, N.Y.-based McSam Hotel Group has closed, for $27.1 million, on a 99-year ground lease of the 7,454-square-foot property at 523-529 Eighth Avenue, in the Garment District section of Midtown. Located on the corner of West 36th Street, the lot is currently occupied by a single-story, 7,400-square-foot retail building with five commercial units, according to The Real Deal. The site can accommodate up to 74,540 square feet of commercial development. Neither demolition permit nor new building permits have yet been filed with the Department of Buildings. It’s not known when the tenants’ leases expire, and plans for the site have not been disclosed. The property owner is Joseph P. Day Realty Corporation.
Most buildings try to hide their skeletons behind masonry or some other opaque element. At 53W53, however, showing the bones off is a design feature. Thanks to some photos taken by our friend Tectonic, we can now see some of the exoskeleton at the Jean Nouvel-designed tower. The overall structure has now risen about four stories above ground.
It’s been a decade since Thor Equities demolished the iconic Revere Sugar Refinery on the Red Hook waterfront. Now, they’ve finally filed plans for a five-story office building on the huge lot at 270 Richards Street, between Van Brunt and Dwight streets.
Although we’d love to see more residential development in downtown Jamaica, much of the new construction in the eastern Queens neighborhood is tied to hotels and tourism. The latest new hotel is coming to 97-26 147th Place, on a lot a few blocks south of the Jamaica LIRR station.
It was revealed in May of 2015 that New Jersey-based Steiner Equities Group, selected by the Brooklyn Navy Yard Development Corporation, would be redeveloping the corner of Flushing Avenue and Navy Street into a multi-building commercial complex. Now, the developer has filed applications for three of the four planned buildings. At the corner of Flushing and Navy, filed under 1 Flushing Avenue, a new single-story, 12,600-square-foot retail building is planned. Directly to the east, at 3 Flushing Avenue, a two-story, 36,645-square-foot retail building is in the works. To the north of 1 Flushing Avenue along Navy Street, at 25 Navy Street, another two-story retail building measuring 41,200 square feet is planned. A fourth building, this one five stories in height, is planned at 21 Flushing Avenue. That structure, to total 248,489 square feet, will include a 74,000-square-foot Wegmans market and 126,000 square feet of industrial space. S9 Architecture is the design architect. Steiner is ground-leasing the property in a 96-year lease, which is currently scattered with the crumbling remains of Admiral’s Row. Two of the dilapidated buildings along the corridor are being restored, but the rest are to be demolished. Completion is expected in 2017.