In early 2015, Wharton Properties and General Growth Properties (GGP) acquired, for $1.75 billion, the Crown Building – a 25-story, 385,600-square-foot multi-use commercial building – at 730 Fifth Avenue, located on the corner of West 57th Street in Midtown. Now, it’s been disclosed that developer Michael Shvo and Russian investor Vladislav Doronin are planning to acquire a large portion of the building for a mixed-use conversion project, the New York Post reported. The duo want to convert the upper floors of the current office building into an Aman hotel and 23 ultra-luxury condominium units. Wharton and GGP recently bought out the last remaining office tenant. The current owners plan to lease the remainder of the property that isn’t sold to Doronin and Shvo as retail. The retail space is currently being newly renovated and is expected to take up at least the first four above grade levels. Late last year, it was reported that Bulgari signed a 15-year lease on the ground floor.
The Port Authority has been struggling for years to develop two awkward lots next to the Lincoln Tunnel approach on the far West Side. The agency filed plans for a nine-story building at 431 West 33rd Street last fall, and now they’ve posted a rendering on the fence at the site between Ninth and 10th avenues.
It’s been nearly a year since we checked in on Related’s rental development at 261 Hudson Street, and a lot has happened since then. Thanks to photos from our friend Tectonic, we can see that façade work on the 12-story project is nearly complete.
Most new construction in Downtown Brooklyn easily falls into the category of “megaproject,” from the residential towers and mall of City Point to John Catsimatidis’ 32-story residential development at 86 Fleet Place. But every once in a while, someone files a somewhat reasonably sized building on a small lot there. Yesterday’s crop of filings brought a new building application for a skinny, 11-story residential development at 112 Fleet Place.
Construction of the 14-story supportive housing building at 257 West 29th Street in Chelsea is in its final stretch. Cladding is in progress underneath the black netting that shrouds the building. The 143-foot-high, 37-unit building is developed by Arker Companies. Aufgang Architects are responsible for architectural design and construction administration. Chateau GC LLC serves as the general contractor.