After it was announced last week that the historic Roosevelt Hotel would be closing its doors, owner Pakistan International Airlines (PIA) has since teased to what will become of the Midtown East building. One possibility is a new hotel standing 100 stories. Set in a prime location, the block-long 19-story structure is bordered by Madison and Vanderbilt Avenues and East 45th and 46th streets.
Jersey City Mayor Steven Fulop this week announced that all litigation between the city, Kushner Companies, and the Jersey City Redevelopment Agency has concluded. The agreement settles lawsuits brought by Kushner Companies beginning in 2018 regarding construction delays at 1 Journal Square, a forthcoming residential development in Jersey City.
Permits have been filed for a 17-story mixed-use building at 5123 Beach Channel Drive in Far Rockaway, Queens. Located between Beach 53rd Street and Beach 54th Street, the interior lot is a short walk to the Beach 44 Street-Frank Avenue subway station, serviced by the A train. Arker Companies under the Peninsula Rockaway LP is listed as the owner behind the applications. The developer recently filed permits for 5119 Beach Channel Drive, a neighboring new construction site also part of the Peninsula Hospital Redevelopment.
Façade installation is making progress at 799 Broadway, a 12-story office building in Greenwich Village. Designed by Perkins + Will and developed by Columbia Property Trust, the 182-foot-tall project will yield 180,000 square feet of commercial space marketed by JLL. The corner lot is located at the intersection of Broadway and East 11th Street, and was purchased by Normandy Real Estate Partners and Ares Management in 2016 for $101 million. Early work required the demolition of several low-rise structures before excavation and construction of the new edifice could begin.
A consortium of developers has successfully locked in $173 million in financing to construct a new 479-unit rental property in Chelsea. The new building will take shape at 241 West 28th Street, near Eighth Avenue, and is designed by COOKFOX.
