Early in 2015, the Jersey City Planning Board approved plans for two 15-story mixed-use buildings at 193 and 213 Van Vorst Street, in the Paulus Hook neighborhood of Jersey City. Now, HFF has secured for the developers, Global Real Assets and Fields Development Group, $63.5 million in financing for the first phase of the project, according to REBusinessOnline. The first phase at 213 Van Vorst Street will have 255 residential units, which will come in one-, two-, and three-bedroom configurations, and two ground-floor retail units totaling 7,237 square feet. The second building will include an additional 153 residential units and 7,305 square feet of ground-floor retail. Pile driving and foundational construction on the first building began last January, per Jersey Digs, and completion is expected in 2017. Marchetto Higgins Stieve is the design architect.
In early 2015, renderings were revealed of the planned renovations at Citigroup’s headquarters at 388-390 Greenwich Street, in TriBeCa, and now the company is in contract to acquire the the 39-story, 2.7-million square-foot office complex. According to Real Estate Weekly, Citigroup will purchase the properties from SL Green Realty Corp. for $2 billion. The renovations include connecting the tower portion at 388 Greenwich to the 10-story structure at 390 Greenwich. The transformation will include a new façade on large portions of the existing buildings, a single lobby that serves both sections, plaza renovations, a rooftop terrace, and amenities like a fitness center. The sale is expected to close in December of 2017 and renovations should be complete by 2019.
Alloy Development has acquired the vacant 4,100 square-foot parcel at 431 Carroll Street, in Gowanus, for $2.8 million, Crain’s reports. Located two blocks west of the Union Street stop on the R train, the developer plans to build their new headquarters at the site in the form of a three-story, roughly 8,000 square-foot building. The ground floor will be leased as retail space and the upper floors will contain between 5,000 and 6,000 square feet of office space. The developers expect to break ground by 2017 for a 2018 completion. Alloy Development will likely design the project in-house.
Brooklyn-based Brookland Capital, headed by Boaz Gilad, has filed applications to expand the three-story parking garage at 524-540 Halsey Street, in Bedford-Stuyvesant, into a five-story, 36-unit residential building. According to DNAinfo, the developer acquired the property for $8.2 million in December. The 31,434 square-foot property will be expanded into 38,879 square feet of residential space, which means units will average a relatively spacious 1,080 square feet apiece. Per the Schedule A, there will be seven townhouse-style triplex apartments within the first three floors. Upper West Side-based Feingold & Gregory Architects is the architect of record. The project is located within the Bedford Stuyvesant/Expanded Stuyvesant Heights Historic District, which means the Landmarks Preservation Commission must approve it.
Eyal Ovadia, doing business as an anonymous LLC, has filed applications for a four-story, two-unit residential building at 114A Marcus Garvey Boulevard, in northern Bedford-Stuyvesant, located four blocks from the Myrtle Avenue stop on the J, M, and Z trains. The 3,740 square-foot project will rise 49 feet in height on a small, 17-foot-wide lot, currently home to a garage. There will be one residential unit on the ground floor and the second unit will occupy the second, third, and fourth floors. If the 2,956 square feet of residential space is divided like so, the smaller unit will measure roughly 740 square feet and the larger one will span 2,216 square feet. Queens-based Gerald Caliendo is the architect of record.