Connecticut-based property owner Gjin Gjini has filed applications for a three-story, three-unit residential building at 1605 Taylor Avenue, in the Van Nest section of the Bronx, located five blocks from the East 180th Street stop on the 2 and 5 trains. The project will measure just 3,740 square feet and would rise on a vacant 25-foot-wide lot. There will be 2,805 square feet of residential space, so the full-floor residential units should average 935 square feet apiece. That means relatively spacious rental units are probably in the works. Long Island-based Shahriar Afshari is the applicant of record.
Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.
Musician and property owner Norah Jones is moving forward with converting the two-story, two-family residential building at 172 Pacific Street, in Cobble Hill, into a single-family townhouse. Brownstoner reports all of the needed approvals are in place to do the conversion, which includes partially demolishing the rear of the property and replacing it with a new rear extension that will include a sliding glass door on the ground floor and French doors and Juliette balconies on the second floor. In all, the structure will see its residential space go from 3,552 square feet to 3,085 square feet. Baxt Ingui Architects is designing the renovations. As the property sits within the Cobble Hill Historic District, the Landmarks Preservation Commission had to approve of the project, which it did in November of 2015. The house was purchased for $6.25 million in 2015.
Forest Hills-based property owner Kyong I. Park has filed applications for two two-story commercial-retail buildings at 40-09 – 40-11 29th Street, in the Queens Plaza section of Long Island City, located three blocks north of the elevated tracks for the E/M/R/7 subway lines. The northern building at 40-09 29th Street will measure 10,012 square feet and the other building will measure 9,212 square feet. There will be 14,907 square feet of commercial space across both buildings, and the Schedule A notes both will be used as retail space. Iljoong Kim’s Flushing-based Chio Design Consulting is the applicant of record. A two-story house at 40-09 29th Street and the Korean Philippo Church at 40-11 29th Street must first be demolished. Permits have not yet been filed to do so.
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.