Back in 2014, B+B Capital and Mink Development acquired, for $19 million, the five-story, five-rental-unit building at 39 East 72nd Street, located in the Upper East Side Historic District, with plans to restore it to its former glory as a single-family townhouse. The developers have secured $30 million in financing for the project, which now is expected to include three condominiums, according to Real Estate Weekly. The 13,036-square-foot structure will be expanded by two stories, increasing the property’s square-footage to 18,412 square feet. Filings indicate the residential units will all be triplexes, averaging an enormous 5,256 square feet apiece. The Landmarks Preservation Commission reportedly approved the project back in 2014. CetraRuddy is the design architect.
Back in July of 2015, news broke that Brickman Real Estate and Daniel Loeb were planning to convert the three-story, 160,000-square-foot warehouse at 30-02 48th Avenue, in the Dutch Kills of Long Island City, into office space. DNAinfo now has updated details on the conversion. The building, which will retain its name as The Bindery, will get a 4,000-square-foot lobby featuring space for four food vendors and a communal work area, in addition to amenities like bike storage, a fitness center, a food court, an art exhibit, a cocktail bar, and a roof deck. Filings indicate 69,167 square feet of factory space, spread across all three floors, will remain in the building, while 72,269 square feet will be designated as commercial space. Gut-renovations are expected to begin within the next few weeks. Fogarty Finger is the architect of record.
Back in September of 2015, YIMBY revealed renderings of one of the duplex penthouses at the two-building, 35-unit residential complex at 505 West 19th Street, in West Chelsea. The 10-story structures are now just about complete, as seen in photos in a Curbed NY report. The structures are conjoined by a single-story connector that spans below the elevated High Line. The eastern building hosts 25 condominiums and two penthouses, while the other building contains eight full-floor condos and a penthouse. The units will come in one- to five-bedroom configurations, and amenities include a fitness center, a street-level parking garage, and bike storage space. HFZ Capital Group is the developer, Thomas Juul-Hansen is the design architect, and Goldstein, Hill & West Architects is the architect of record. Occupancy is currently underway.
Neighborhoods like Midwood and Sheepshead Bay are a largely untapped market for commercial development. But developers are starting to realize that there’s growing demand for new office space in heavily trafficked shopping corridors near the subway, even in southern Brooklyn. One property owner near the northern border of Sheepshead Bay took the plunge in 2014 and decided to demolish a few two-story commercial buildings at 1601 Kings Highway.
A WPA-era park in the Bronx is getting a bit of an update. Last Tuesday, the Landmarks Preservation Commission approved construction of a new entrance and pathway at the Crotona Play Center, located on the grounds of Crotona Park with the address 1700 Fulton Avenue.