RedSky Capital recently acquired the three-story commercial building at 585 Fulton Street, in Downtown Brooklyn, for $13 million, and now owns the entire triangular block spanning 565-591 Fulton Street and 398 Flatbush Avenue Extension (excepting the four-story building at 571 Fulton Street). The assemblage currently has 280,000 square feet of development rights, but if No. 571 is acquired, that figure would increase to 330,000 square feet, according to The Real Deal.
Soho Properties, MHP Real Estate Services and Hampshire Hotels Group have closed on the purchase of 19,772 square feet of air rights for their planned 29-story, 384-foot mixed-use commercial building at 560 7th Avenue, in Midtown (at 40th Street), according to Commercial Observer. A 238-key Dream Hotel is planned, which will also feature retail space on the ground & second floor, and restaurants on the third floor and cellar level. Stonehill & Taylor Architects is designing, and demolition of the existing six-story building is expected to commence by the end of this year.
Last year, YIMBY revealed the two-story, 88,000 square-foot Triangle Plaza Hub planned at 459 East 149th Street, in South Bronx. Now the commercial and community building is close to being fully leased, according to the Daily News. The building is expected to open this upcoming fall, and tenants include Brightpoint Health, DaVita Dialysis Center, Vistasite Eye Care, Fine Fare Supermarket, Metropolitan College of New York and Boston Market. Triangle Equities is developing, and S9 Architecture is designing.
Steve Zervoudis’ Galaxy General Contracting has filed applications for a three-story, five-unit mixed-use building at 573 Jackson Avenue, in Woodstock, a block from the Jackson Avenue 2/5 train stop in the Bronx. The building will measure 4,620 square feet in total, which includes the 440 square-foot commercial-retail unit on the ground floor. Market-rate residential units will measure 835 square feet each, and Georgios Georgopoulos is the architect of record.
BLDG Management is marketing 701 West 181st Street in northern Washington Heights as a development site, according to DNAinfo. The building once housed Manhattan’s oldest operating movie theater, which shuttered in 2011, and has since been filled with small retail tenants. The property allows for a 70,000 square-foot commercial building. Zelnik & Company Real Estate is marketing the site.