At the beginning of 2015, YIMBY revealed renderings for HAP’s planned 10-story, 93-unit mixed-use building at 2211 Third Avenue, in East Harlem, and now the developer has broken ground on the project, Real Estate Weekly reports. In the 120,000 square-foot building, commercial-retail space on the bottom floors will measure 26,000 square feet. A community facility on the ground floor will also take up 1,000 square feet. Twenty percent of the apartments will be let at below-market rates, and Karl Fischer is designing.
While the city could decide to ban hotels from manufacturing zones, developers have only pushed forward with their plans to build them, even in fairly remote parts of the outer boroughs. Yesterday, new building applications were filed for an eight-story hotel at 38-04 11th Street, at the northern edge of Long Island City. And YIMBY has the reveal for the project, which will replace an auto shop on the corner of 38th Avenue.
Extell was the city’s first developer to put up a residential building of 1,000 feet or greater, and while the construction of One57 was fraught with complications, practice will hopefully make perfect. Despite initial difficulties and buckling streets, the latest photos from Tectonic show One Manhattan Square is now making major headway, at 250 South Street.
As property values skyrocket in the low-slung eastern edges of Williamsburg, small developers are searching for ways to boost a site’s density without spending exorbitant amounts of money on construction. Increasingly, they file their developments as alterations, rather than new buildings, which allows them to avoid building expensive underground parking. And the J-51 abatement gives landlords a break on their property taxes, in exchange for preserving at least 50% of the old building and keeping the new units rent-stabilized for up to 20 years. One of these enterprising developers has filed alteration applications to expand a little three-story brick apartment building at 196 Montrose Avenue, on the corner of Humboldt Street.
Crown Acquisitions has purchased the three-story retail building at 144 Fulton Street, in the Financial District, for $25 million, according to New York Daily News. Plans for the property have not been disclosed, but the site is primed for redevelopment, and has some of the best transit access in New York, directly adjacent to the Fulton Center and just two blocks from the WTC Transit Hub.