Madison Realty Capital has closed on the seven-story, 400,000 square-foot industrial building at 14 53rd Street, in Sunset Park on the waterfront, for $82.5 million, according to Crain’s. The building, located four long-blocks from the R train’s 53rd Street stop, is being renovated to accommodate office and manufacturing tenants. The renovations will include exterior and interior upgrades, as well as a roof deck.
The Dupler Group is putting the land under a five-story office building at 222-226 East 46th Street, in Midtown East, on the market as a 99-year lease; the property is being valued at around $30 million. The site contains 72,000 square feet of development rights, and a developer could demolished the existing structure for a 33-story residential tower with as many as 96 rental units. Newmark Grubb Knight Frank is marketing the property, per The Real Deal.
The government of the United Arab Emirates is planning a 27-story mixed-use tower at 315 East 46th Street, a long-stalled construction site between First and Second Avenues in Midtown East.
YIMBY last reported on Extell Development’s 52-story, 600-unit mixed-use building at 551 Tenth Avenue, in Midtown West, back in October of 2014, and now Curbed has the latest photos of the project, courtesy of Tectonic. The structure has risen significantly since last fall, and glass is now wrapping around on all sides. Twenty percent of the rental units will be leased at below-market rates, and a 300-bed dormitory will be housed in the building’s base. SLCE Architects is designing, and completion is expected in the summer of 2016.
In December, an 11-story, 30-unit mixed-use building was filed at 140 15th Street, in South Slope, but was lost in the flood of other projects being filed before the year’s end. Then YIMBY revealed renderings of the project in May. Filings have not been approved yet by the DOB, but Boaz Gilad, the developer, is still actively filing for permits. The 36,747 square-foot building will feature 4,948 square feet on the ground floor for two retail units, and the residential units above will average 1,062 square feet. Feingold & Gregory Architects is the applicant of record. Demolition permits were filed in 2014 to remove two three-story townhouses and a retail building.