During the summer of 2015, Kushner Companies and CIM Group filed plans with the Department of City Planning to convert the 26-story, 466,000-square-foot office building at 2 Rector Street, in the Financial District, into 452 rental apartments. The developers are now abandoning those plans and are in contract to sell the office building to Cove Property Group for roughly $225 million, according to the New York Post. The sale comes three years after Kushner and CIM acquired the property for $140 million. The new owners plan to continue leasing the property to commercial tenants. It was 84 percent occupied in 2015, by multiple tenants.
A 35-story mixed-use project in the Financial District can now go forward, thanks to approval from the Landmarks Preservation on Tuesday. The project is at 77 Greenwich Street (a.k.a. 42 Trinity Place) and needed LPC approval because it would cantilever over the Robert and Anne Dickey House, an individual landmark immediately to the south at 67 Greenwich Street (a.k.a. 28-30 Trinity Place). The changes to the design weren’t too dramatic and one of them was described as a “no-brainer” by the LPC chair.
It’s hard to build taller than three stories in most of Gravesend, a middle-class neighborhood in southern Brooklyn populated by a diverse mix of Syrian Jewish, Puerto Rican, Chinese, Mexican, Russian, and Ukrainian immigrants. But along the neighborhood’s northern edge, on the border with Midwood and Bensonhurst, the city allows new mid-rise apartment buildings.
There were five landmarks designated in Brooklyn in 2015 and now the borough has its first of 2016. The East New York Savings Bank, Parkway Branch building at 1117 Eastern Parkway (a.k.a. 1123A Eastern Parkway) was designated an individual landmark by the Landmarks Preservation Commission on Tuesday.
A 150-year-old landmarked warehouse at 80 White Street in Chinatown is about to become offices, retail, and one apartment.
Alteration plans were filed with the Department of Buildings yesterday to convert the six-story loft building between Broadway and Lafayette Street. Construction tool manufacturing company General Tools has occupied the building for decades, and the firm’s former chairman, Gerald Weinstein, has owned the property for at least 40 years. Tax photos from the ’70s show the firm’s name emblazoned above the cast iron columns on the ground floor.