Last December, Thor Equities filed applications for a 71-story, nearly 353,600 square-foot mixed-use tower at 520 5th Avenue, in Midtown, and now Ceruzzi Properties has agreed to acquire the site for $325 million, according to Commercial Observer. The new owner plans to proceed with previous plans, which will feature three stories of retail, followed by 208 hotel rooms up to the 24th floor, and 145 residential units in the upper reaches of the tower.
Earlier this year, Chetrit Group and Somerset Partners purchased two Bronx waterfront development sites at 2401 3rd Avenue and 101 Lincoln Avenue, in Port Morris, surrounding both sides of the Third Avenue Bridge, and now Curbed has the details for their project. The developers plan two 25-story towers totaling 1,600 residential units, across 1.3 million square feet, and retail space will span the first two floors. The site is currently occupied by warehouses.
While Alma Realty and the Durst Organization are starting to reshape the Astoria waterfront with their megaprojects on Hallets Point and Vernon Boulevard, smaller developments have started to appear on the sleepy western edge of Astoria near Socrates Sculpture Park. Developer DK Real Estate Group has filed a new building application for a skinny eight-story, 15-unit building at 14-35 Broadway, between 14th and 21st Streets.
Arthur Shapolsky is set to acquire the development assemblage consisting of 23-27 Third Avenue and 3 St. Marks Place in the East Village, across the street from Astor Place. The properties, set to trade for roughly $50 million, are currently occupied by a three-story townhouse and some retail structures. The site could accommodate a new building of 41,500 square feet, though plans have not yet been disclosed.
Oxford Nursing Home is planning to build a 138,000 square-foot, 200-bed nursing home at 141 Conover Street, in Red Hook, as well as a 37,000 square-foot health care facility. The development requires a trek through the ULURP process, because the block must be rezoned for residential purposes, according to DNAinfo. Construction is expected to begin in late 2016 or early 2016, pending proper approvals, and multiple low-rise structures must first be demolished.