Prime Rok Real Estate and Greystone Property Development have purchased the eight-story, 33,000-square-foot building at 164 West 74th Street, on the Upper West Side, for $28 million. According to Commercial Observer, the new owners are planning to convert the building, which is currently Phoenix House’s drug and alcohol rehabilitation facility, into 14 to 18 condominium units. As currently proposed, the structure’s façade will be lightly restored, the rear will be partially demolished, and the interior will be gut-renovated. Barry Rice Architects is designing the conversion, but any alterations to the property will have to be approved by the Landmarks Preservation Commission, as it’s located within the Upper West Side-Central Park West Historic District.
Developer Atlas Capital Group LLC, which done work across the country, has acquired the 276,705-square-foot warehouse at 23-30 Borden Avenue, in southern Long Island City, for $48 million. Bloomberg Business reports the warehouse serves as the home of Fresh Direct LLC, an online grocer, although the company will soon move to a new location currently being constructed in the Bronx. The Long Island City site is located within a manufacturing zone (M3-2) and currently yields 129,847 square feet of additional development rights under current zoning. But that could change if the developer initiates a zoning change or if the city moves forward with a general rezoning of the area, which could possibly allow for residential units to be built in this industrial section. Who is behind Atlas Capital Group, LLC? That will remain a mystery until the sale is complete.
Until now, the residential supertall boom has been focused on the core of Midtown, with One57, 432 Park, 217 West 57th Street, and 111 West 57th Street all rising in the blocks between Eighth and Park avenue. Now, we have fresh renderings for Kohn Pedersen Fox’s entry into a design contest for 151 East 60th Street, which would rise on the corner of Lexington Avenue and East 60th Street, stretching Midtown’s new skyscraper crown a few blocks northeast of its current local maxima.
Most developers building market-rate apartments in the South Bronx have set their sights on Port Morris, a relatively narrow industrial strip that wraps around the southern tip of the borough. But Treetop Development just paid $6 million for a site several blocks north, at 121-129 East 144th Street in Mott Haven.
It was over two-and-a-half years ago that YIMBY told you of plans to convert a five-story warehouse at 510 West 22nd Street into an 10-story office building. Since then, the plan has changed to 11 stories and now, thanks to images on the architect’s website, we have a new look at what how the completed structure will appear.