Connecticut-based Stoneleigh Capital has reportedly signed a letter of intent with the New York City Economic Development Corporation to head the redevelopment of the four-story Battery Maritime Building, an individual landmark located at 10 South Street, in the Financial District. According to Politico New York, the new developer replaces the Dermot Company, who was selected in 2006 to transform the building into a hotel but never completed the project. The conversion is currently a little more than halfway complete. Once finished by the end of 2017, it will include a 60-plus-key boutique hotel, a restaurant and bar on the rooftop, and pubic space in the Grand Hall. Part of the building is still used to launch ferries to Governors Island. Rogers Partners originally designed the project, but when the project resumed after the last economic downturn it was subsequently re-designed for a new program by Ismael Leyva Architects, who also took the building through multiple agency approvals and finally into construction.
On Tuesday, the Landmarks Preservation Commission approved a plan to relocate the entrance to the Paramount Building, an individual landmark at 1501 Broadway in Times Square, from Broadway on to West 43rd Street.
Douglaston Development’s fourth and final tower on the Williamsburg waterfront topped out yesterday at 2 North 6th Place.
One of the hundreds of vacant lots in the South Bronx is about to become supportive housing. A non-profit organization has filed plans for a six-story residential facility at 1084 Ogden Avenue in Highbridge, a western Bronx neighborhood just north of Yankee Stadium.
In January of 2016, filings were submitted to the Attorney General’s office for a 91-story, 275-unit luxury residential tower with retail space at 125 Greenwich Street, in the Financial District. Since then, foundation work has been underway and its developers – Michael Shvo, Vector Group, New Valley, and Bizzi & Parters Development – have been in talks to secure a roughly $500 million construction loan. Now, the New York Post reports $175 million in financing has been raised through the EB-5 program. New details also reveal the highest occupied floor will stand 990 feet above street level, although a crown will push the pinnacle of the supertall tower to a yet-to-be-determined height. Condominiums are expected to range from studios to a triplex penthouse. Rafael Viñoly Architects is the design architect. Completion is expected in 2018.