Vornado Realty Trust has purchased the seven-story Otis Elevator Building at 260 11th Avenue, in West Chelsea, for roughly $80 million in stock units, according to Bloomberg Business, and is leasing the land under the building for 99 years. Vornado is planning to convert the building into office space; an expansion is also possible as the building has available development rights.
If you don’t live downtown, you might be forgiven for not knowing that the Howard Hughes Corporation is trying to remake the South Street Seaport. One of the key components of that is the new Pier 17, which is already in the works. Though the plan hit a bump in the road at Tuesday’s session of the Landmarks Preservation Commission, they aren’t dead in the water.
A new dawn is coming for a lower Manhattan landmark. With Chase gone, the Landmarks Preservation Commission approved a proposal for an adaptive reuse of the plaza in front of the building formerly known as One Chase Manhattan Plaza (now 28 Liberty Street since Fosun International Ltd. bought). There will be ground floor retail and major changes to the plaza that should bring a lot of it back to its former glory.
Last week, YIMBY brought you an update on 333 Schermerhorn Street, and now we’ve got a look at 250 Ashland Place, a BAM Cultural District tower rising fast next to the newly built, modernist Theater for a New Audience in Downtown Brooklyn. YIMBY reader Tectonic has been keeping a close watch on all the Downtown towers, and sent along these shots of the construction progress.
Urban View Realty has filed applications for a five-story, 10-unit residential building at 96 Clay Street, in northern Greenpoint, nine blocks north of the G train’s Greenpoint Avenue stop. The building will total 10,000 square feet, which means units will average 1,000 square feet apiece. Woody Chen’s Infocus Design & Planning is the applicant of record, and an existing two-story, two-unit townhouse must first be demolished.