Back in the fall of 2015, Madison Equities and Pizzarotti-IBC closed on the purchase of the 45 Broad Street development site in the Financial District, and now Curbed reports the pair are planning an 86-story, 245-unit residential tower. The supertall – being designed by CetraRuddy – would stretch 1,100 feet into the sky, although some details are still being finalized. In addition, five floors of commercial space are planned, and future residents will have access to amenities including, but not limited to, a swimming pool, a gym, and a lounge. New building applications are expected sometime this summer, and groundbreaking is scheduled for later this fall. A tentative completion date is slated for 2018.
Long Island-based Hersel Sakhaee has filed applications for a five-story, six-unit mixed-use building at 1031 Broadway, in northern Bushwick, located three blocks down from the Myrtle Avenue stop on the J/M/Z trains. The project will measure 6,750 square feet in total and includes a 1,687 square-foot ground-floor retail portion. The residential units will begin on the second floor and average 844 square feet apiece. Hudson Valley-based Kenneth Thomas is the applicant of record.
David Shavolian, doing business as an anonymous LLC, has filed applications for a six-story, 11-unit residential building at 19 Clarkson Avenue, in Prospect Lefferts Gardens, located three blocks from the Parkside Avenue stop on the Q train. The building will measure 8,098 square feet, which means units will average a rental-sized 736 square feet apiece. An existing two-story, 20-foot-wide rowhouse – currently being used as a day care – will have to be razed. Suresh Manchanda’s Flushing-based L&C Associates is the applicant of record.
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.