Daniel Wise, operating as an anonymous LLC, has acquired the four-story tenement buildings at 201-203 East Broadway, on the Lower East Side, for $8.5 million last month, according to Bowery Boogie. Last week, demolition permits were filed to knock the buildings down, and asbestos abatement notices were posted on-site. The site boasts 28,152 square feet of development rights, or 37,152 square feet if a community facility is included. New building applications haven’t been filed with the DOB.
Albert Basal has filed applications for a three-story, three-unit residential building at 444 Miller Avenue, in central East New York, located three blocks from stops on the 3 and C trains. The building will measure 3,120 square feet, which means full-floor units will average a relatively spacious 1,040 square feet. Bakhtiar Shamloo’s Kew Gardens-based Tabriz Group Design is the applicant of record. The site is currently occupied by a small half-built residential project, which stalled out around 2008, and we assume the remnants will be demolished.
The transformation of a five-story, 1860s-era warehouse into a six-story mixed-use commercial building is nearing completion at 55 Water Street, in Dumbo. According to Brownstoner, the structure’s sixth-floor addition has been constructed, and glass façade is now being installed. Dubbed Empire Stores, the building will yield 395,000 square feet of commercial space, which will be made up of offices, retail, restaurants, and exhibition space; rooftop gardens and outdoor public space are also featured.
In New York City, the current real estate boom has left the largest marks on the Midtown Manhattan and Downtown Brooklyn skylines, but the rise of Jersey City over the past few years has been equally if not more impressive. And while the latest additions across the Hudson have been predominantly residential, YIMBY has word that a 95-story tower is now in the works at 55 Hudson Street, which could make it the tallest building in both Jersey City, and all of New Jersey.
Most of the new buildings under construction in Melrose, at the heart of the South Bronx, are large and heavily subsidized. The city is already developing two sprawling affordable complexes in the neighborhood, La Central and Melrose Commons. But every once in a while, a developer manages to finance a small market-rate building like 411 East 151st Street, and YIMBY has the first look at the future seven-story development.