Kuafu Properties and Shanghai Construction Group’s U.S. branch have closed on the purchase of floors 51 through 63 in MiMa, the 63-story luxury rental tower located at 660 West 42nd Street, in Hell’s Kitchen, for $260.8 million. According to Commercial Observer, the developers plan to convert those floors’ 151 rental units into an equal number of condominiums under the name of 1 MiMa. The remaining 663 rental units in the building, under ownership by Related Companies and TIAA-CREF, will not be touched. Residents in 1 MiMa will have access to the tower’s 44,000 square feet of amenities and will have an exclusive entrance. A $211.6 million loan was secured for the acquisition.
In the first half of 2015, YIMBY reported on filings for a nine-story, mixed-use commercial building at 61 9th Avenue, on the corner of West 15th Street in Chelsea, and now Crain’s has the first rendering of the project. The entire structure will measure 153,754 square feet in total, and there will be 115,000 and 37,000 square feet of boutique office and retail space, respectively. Retail will be located on the cellar through the second floor. Rafael Viñoly is behind the design, and Vornado Realty Trust and Aurora Capital are developing. Demolition permits were filed in December to remove the existing lumber shop and billboard sign. Groundbreaking is expected in mid-2016, with completion scheduled for early 2018.
In October of 2014, YIMBY revealed renderings of Nava Companies’ planned seven-story, 10-unit Passive House residential building at 210 Pacific Street, in Boerum Hill, and early in 2015, the building topped out. Surprisingly, a brass tile façade is now being installed, Pardon Me For Asking reports, which is an exciting departure from the earlier renderings we released. The residential units will average a spacious 2,020 square feet apiece, and recreational space and a gym will be located in the cellar and ground levels. SBLM Architects is the architect of record. Opening can probably be expected later this year.
Benjamin Companies and the Beechwood Organization have filed applications for a seven-story, 126-unit mixed-use building at 190 Beach 69th Street, in Arverne, Queens, located just south of the Beach 67th Street stop on the A train. The building is part of Arverne by the Sea’s multi-family phase dubbed “The Tides.” It’s the mega-project’s final phase, and roughly 2,300 townhouses have already built on the surrounding oceanfront, according to The Real Deal. This building will measure 151,760 square feet in total, and the residential space will amount to 105,442 square feet, which means units will average 837 square feet apiece. Commercial-retail space and car parking will be located in a ground-floor podium. Urbahn Architects is the applicant of record and developers expect to break ground within the coming months.
A five-story co-op building in TriBeCa will be growing by two stories, thanks to approval from the Landmarks Preservation Commission at its public hearing on Tuesday.