Construction is up to the third floor on the nine-story, 142,554-square-foot mixed-use commercial building at 540 West 26th Street, in West Chelsea. The latest photos can be seen on the YIMBY Forums. The most recent building permits indicate the project will eventually measure 142,554 square feet and rise 135 feet above street level. The developers have already pre-leased 85,421 square feet across portions of the ground through fifth floors to Avenues: The World School, a private school. The sixth through ninth floors will contain office space and the ground floor will feature an art gallery space. The real estate fund Savanna and the Silvermintz family are developing the building, while Morris Adjmi Architects is designing it. Completion is expected in 2017.
Brooklyn-based Leny Vays has filed applications for four four-story, six-unit residential buildings at 21-20 – 21-28 45th Road and 21-19 46th Avenue, in the Hunters Point section of Long Island City. Each of them will measure 4,883 square feet, which means the residential units should average 813 square feet apiece, indicative of rental apartments. The 15,000-square-foot assemblage, currently occupied by multiple single-story warehouses, spans 125 feet along 45th Road. Since each building will measure 25 feet across and there isn’t anything filed at 21-22 45th Road and 21-26 45th Road, two more are probably on the way, and the unit count could rise to 36. Igor Zaslavskiy’s Brooklyn-based Zproekt is the architect of record and demolition permits were filed in June.
The South Bronx is suddenly booming with new construction. Most of the action is happening along the waterfront in Mott Haven and Port Morris, but investors looking for cheaper properties have started paying attention to neighborhoods below the typical real estate radar, like Highbridge.
HAP Investments made its mark on Manhattan building splashy rental buildings in Harlem and Washington Heights. Now, the firm is pushing forward with its first major downtown project, a two-building, 290,000-square-foot residential development on West 28th Street between Seventh and Eighth avenues. They’ve filed plans for the second 21-story building in the complex, at 225 West 28th Street.
In September of 2015, Stellar Management acquired, for $12 million, the two-story, 7,500-square-foot commercial building at 130 Second Avenue. That’s located on the corner of St. Marks Place in the East Village. It has now been revealed that Stellar will renovate the existing building, formerly occupied by a Chase bank branch. It will become the headquarters of the currently TriBeCa-based non-profit art organization Swiss Institute, Curbed NY reported. Besides upgraded office space, new elements will include event spaces, a library, a bookstore, and a rooftop terrace. Selldorf Architects is designing the renovation and completion is expected in 2017.