562 Fifth Avenue

Developer Begins Demolition At Fifth Avenue-West 46th Street Assemblage, Midtown

Gary Barnett’s Extell Development is moving forward with an unknown project on the corner of Fifth Avenue and West 46th Street, in Midtown’s Diamond District. Curbed NY reports the developer recently filed demolition permits for six five-story commercial buildings spanning 3-13 West 46th Street. The row of buildings are currently masked with black netting, which means demolition should begin soon.

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Coney Island

City Moves Forward With Coney Island Park Upgrades, Property Seizures

The city is moving forward with plans to seize multiple Coney Island waterfront properties along the amusement park’s Boardwalk, New York Post reports. The properties will total 75,000 square feet. 60,000 square feet of vacant land will be acquired between West 15th and 16th streets, where the old Thunderbolt roller coaster once stood, another vacant tract of land between West 22nd and 23rd streets will change hands, and, finally, a 9,000-square-foot amusement shop at West 12th Street is targeted. The Parks Department will build a long-planned esplanade connecting the park’s existing attractions at the Thunderbolt site, in addition to building new attractions. In the process, infrastructure work will occur in order for mixed-use developments to rise within the surrounding neighborhood. The eminent domain actions are expected to take a year.


25 Kent Avenue, rendering via Heritage Equity Partners

How the City is Encouraging Office Development and Manufacturing in North Williamsburg

Just as the MTA considers a lengthy L train shutdown to repair flood damage from Hurricane Sandy, the Department of City Planning has kicked off the approval process for Williamsburg’s first new office building in decades. But the rezoning for the development at 25 Kent Avenue includes a policy that could shape industrial areas throughout the city. It would create a special district that allows developers to trade light manufacturing space for extra office space.

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375 Pearl Street

Office Renovation, Leasing Underway At 32-Story Verizon Building, 375 Pearl Street, Civic Center

Sabey Data Center Properties is in the middle of renovating the former Verizon Building, a 32-story, 1.1-million square-foot building at 375 Pearl Street, in Lower Manhattan’s Civic Center. The building was designed by Rose, Beaton & Rose and completed in 1976. Up to 15 floors, or 500,000 square feet, are being converted into office space, dubbed Intergate.Manhattan, and the remaining area will be exclusively data center space. Three sides of the building on the new office levels will receive a glass façade. According to The Real Deal, the city’s Department of Finance is planning to lease 175,000 square feet of space located on the 26th through 30th floors. Other smaller leases have been signed over the past two years, and the renovation is expected to be complete by the end of this year.


37-60 103rd Street

Four-Story, Four-Unit Mixed-Use Building Planned At 37-60 103rd Street, North Corona

Property owner Wei Chen has filed applications for a four-story, four-unit mixed-use building at 37-60 103rd Street, in North Corona, located two blocks from the 103rd Street – Corona Plaza stop on the 7 train. The project will measure 7,299 square feet in its entirety, 3,709 square feet of which will be residential space for two duplex units. Retail space will measure 1,479 square feet on the ground floor. Robert Lin’s Flushing-based A&T Engineering is the applicant of record. An existing two-story townhouse must first be demolished.