Last summer, excavation kicked off at 438 East 12th Street, in the East Village, where a six-story, 82-unit mixed-use building is under development by Douglas Steiner. Then in December, the developer secured a $130 million construction loan for the project. The Real Deal now reports the project has received approval from the Attorney General’s office, putting the valuation of the project’s 82 units at $215 million. When completed in 2017, the 151,943 square-foot building will have 8,376 and 961 square feet of ground-floor retail and medical offices, respectively. The units above will average 1,315 square feet apiece, and will come in one- to four-bedroom layouts. The amenities, located on the ground and cellar levels, will include a pool and spa, a gym, a library, and a children’s playroom, as well as courtyard and rooftop gardens. Perkins Eastman affiliate S9 Architecture is the designing architect and Paris Forino is designing the interiors.
Extell Development has acquired the four-story, 17,000 square-foot commercial building at 530 Sixth Avenue, located on the corner of West 14th Street in Greenwich Village. According to Crain’s, the site could accommodate 126,750 square feet of residential space in the form of a new building. Zoning also allows for commercial and community space, and retail would more than likely be included in a new building. The developer acquired the property for an undisclosed amount from the Duell family, who has already sold a number of other properties around Manhattan to Extell chief Gary Barnett. Development plans have not yet been disclosed and the building’s commercial tenants remain operative for the time being.
Bawabeh Brothers has filed applications for a single-story, 8,690 square-foot commercial-retail building at 71 Schenectady Avenue, in eastern Crown Heights, located four blocks from the Utica Avenue stop on the A and C trains. The 16-foot-tall structure will replace a vacant 62-foot-wide swath of land, and the leasable retail space will total 4,345 square feet. The retail tenant or tenants will also have access to storage space in the cellar. Brooklyn-based Felix Pustylnik is the applicant of record.
In early 2014, YIMBY reported on applications for a three-story, 19-unit residential building at 265 Van Brunt Street, in Red Hook, and then renderings of the project were revealed in early 2015. DNAinfo now reports the structure has topped out and is currently receiving its façade. The building appears to be four stories because it’s raised above the street level to prevent future flood waters from doing damage. Residential space will total 18,089 square feet, which means the rental units will average 952 square feet apiece. Cheever Development Corporation is behind the project and OCV Architects is designing it. Completion and occupancy are scheduled for this spring.
Brooklyn-based Bawabeh Brothers has filed applications for a five-story, 11-unit mixed-use building at 1732 Hancock Street, in southern Ridgewood, located seven blocks south of the Seneca Avenue stop on the M train. The entire structure will measure 24,825 square feet in total, 12,596 square feet of which will be for a dialysis center located on the ground and second stories. On the rest of the second floor and on the upper levels, there will be a total of 11 residential units averaging 931 square feet apiece. Rego Park-based Diego Aguilera Architects is the applicant of record. The 8,009 square-foot lot is currently being used for parking.