Developers Elberon Development Group and the Avidan Group have broken ground on a 90,000-square-foot warehouse and distribution facility at 925 Julia Street, located within Elizabeth, New Jersey’s northeastern industrial section near Newark Liberty International Airport. The structure will have two 45,000-square-foot units, featuring 36-foot-tall ceilings, up to 24 loading docks, and an 80-trailer parking lot. Pilot Freight Services has already signed a 45,000-square-foot lease in the building, according to Law.com. The site – bound by Julia Street, Henry Street, and Fairmount Avenue – has largely sat long vacant. Completion is expected in September.
In December of 2015, William Maklowe Company and Principal Real Estate Investors acquired the 14-story, 190,000-square-foot former Scribner Printing Plant building – located at 311 West 43rd Street, in Hell’s Kitchen – for $107 million. Now, the owners are are renovating the former industrial property into modern office space, dubbed The Press, according to Commercial Observer. The renovations include a redesigned lobby, a new canopy over the entrance, new windows, and a top-down revitalization of the interior. Some of the vacant floors will see a more extensive overhaul, like the 12,749-square-foot eleventh floor, which will get a high-end kitchen, and glass conference rooms. Other upgrades include a penthouse lounge, equipped with a pantry, and an outdoor roof deck. Construction is expected to wrap up by the end of the summer. Currently, there’s about 80,000 square feet of vacant space in the building.
Richard Napolitano, doing business as an anonymous Brooklyn-based LLC, has filed applications for two three-story, three-family residential buildings at 206-210 Bay 29th Street, in Bath Beach, located four blocks from the Bay Parkway stop on the D train. Each structure will measure 4,004 square feet, and the development’s full-floor units should average 1,001 square feet apiece, indicative of condominiums. There will also be a total of four off-street parking spaces. Douglas Pulaski’s Brooklyn-based Bricolage Designs is the architect of record. The 60-foot-wide lot is currently occupied by a two-story, wood-framed house. Demolition permits were filed in January.
Jacob Scherman, doing business as an anonymous Brooklyn-based LLC, has filed applications for a four-story, 10-unit residential building at 267 Evergreen Avenue, in central Bushwick, located three blocks from the Kosciuszko Street stop on the J train. The structure will measure 9,990 square feet, and its residential units should average 917 square feet apiece, which means family-sized rental apartments are probably in the works. The project will be topped by a penthouse (with access from one of the units on the fourth floor) and a rooftop recreational area. Amenities also include two off-street parking spaces. Woody Chen’s Flushing-based Infocus Design & Engineering is the applicant of record. A dilapidating two-story wood-framed structure must first be demolished.
Springhouse Partners has acquired, for $55 million, the six-story, 56-unit mixed-use building at 51 Irving Place, located on the corner of East 17th Street in Gramercy. The 42,502-square-foot property contains about 10,000 square feet of commercial space, which is currently split between five retail units and a single office unit. The residential units above are rental apartments, most of which are market-rate. The new owners plan to conduct renovations, according to The Real Deal. Work will include upgrades to the façade and interiors, and the addition of residential amenities. The apartments will remain as rentals. The property could also accommodate a small expansion, as it contains 5,000 square feet of air rights, although such plans to build an expansion are not known. Springhouse Partners recently secured a $37 million mortgage to finance the acquisition.