Cornell Realty Management is planning to build a four-story, 35,000 square-foot retail project at 257-263 West 34th Street, in the Garment District, according to Crain’s New York Business. According to The Real Deal, which reported on the assemblage last month, Chetrit Group and Cornell Realty acquired the three-story retail building at 261-263 West 34th Street together last March for an undisclosed amount. 259 West 34th Street was also recently acquired for $20.5 million. Chetrit and Cornell have since cut their partnership and, through a deal, have split their properties into separate ownerships. Cornell’s retail project will be clad in glass and construction is expected to begin sometime this year. A total of three small retail buildings must first be demolished.
Over the summer summer, YIMBY partially revealed renderings for the planned 25-story, 115-unit residential building at 565 Broome Street (a.k.a 100 Varick Street), in Hudson Square. The developers have now secured a $320 million construction loan for the project, according to Crain’s, and Cindat (the U.S. branch of Beijing-based China Cinda Asset Management Co.) also acquired a $135 million stake in the project. The development team – SHVO, Bizzi & Partners Development, Halpern Real Estate Ventures, Aronov Development, and Itzhaki Acquisitions – recently acquired the two-story annex at 555 Broome for $9 million, completing the assemblage.
Last October, YIMBY brought you news that Anup Misra, head of East & Hudson Real Estate, is developing a six-story, 71-unit mixed-use building at 165 Huguenot Street, in downtown New Rochelle. Now, the Daily Voice has a rendering of the project, dubbed the Print House. The 64,000- square-foot building will feature studio, one-, and two-bedroom rental apartments, measuring between 500 and 975 square feet apiece. There will also be 3,000 square feet of ground-floor retail space. The New Rochelle Industrial Development Agency recently approved a 12-year Payment in Lieu of Taxes (PILOT) structure for the project, which is a tax incentive. An existing two-story commercial building must first be demolished. Construction is expected to begin this spring, with completion scheduled in 2017. Magnusson Architecture & Planning is behind the design.
The New York Botanical Garden has released a Request for Proposals (RFP) for a mixed-use development assemblage at 2856-2870 Webster Avenue and 412 Bedford Park Boulevard, in Bedford Park. According to Curbed NY, the site could accommodate roughly 300 residential units, in addition to a 125-plus-key hotel and at least 12,000 square feet of retail. The site is located right above the Metro-North Railroad’s Botanical Garden station and currently consists of multiple low-rise commercial buildings. Proposal submissions are due on March 1, and the Garden is hoping to choose a developer before April.
Sam Manshari, head of a Fresh Meadows-based anonymous LLC, has filed applications for four two-story, two-unit residential buildings at 1068-1070 East 98th Street and 217-221 Conklin Avenue, in Canarsie, located a block south of the Canarsie – Rockaway Parkway stop on the L train. The two buildings on East 98th Street will have 1,887 square feet of residential space each, which means full-floor units at those addresses will average 944 square feet apiece. On Conklin Avenue, the buildings will each measure 2,740 square feet, so full-floor units there will average 1,370 square feet apiece. Queens-based Gerald Caliendo is the architect of record. The L-shaped property assemblage is currently vacant.