Strategic Capital, a branch of China State Construction Engineering Corp., has acquired the development sites at 75 Park Lane and 2 Shore Drive North, both in the Newport neighborhood of Jersey City. According to NJ Biz, the sites are approved for 37- and seven-story condominium buildings, respectively, totaling a combined 632,000 square feet of space, which includes 24,000 square feet of retail. The new owner plans to develop the condos, and Holliday Fenoglio Fowler marketed the sites.
NNT Development has filed applications for a four-unit residential development spanning the vacant lots 410-416 Bartlett Avenue, in Arden Heights, on Staten Island’s South Shore. The project will consists of a three-story, two-unit building measuring 2,250 square feet, and two single-family homes each measuring 1,460 square feet. Stanley Krebushevski’s Staten Island-based SMK Architect is designing.
Moin Development and SBE have received a $109 million loan for their planned SLS Hotel at 444 Park Avenue South, in NoMad, Commercial Observer reports. The former 14-story office building is being expanded to 20 stories and converted to 190 hotel rooms; multiple restaurants are also planned. Fortress Investment Group provided the loan, which recapitalizes and restructures existing debt. Completion is slated for Spring 2016.
Eugene Khody, operating under an anonymous LLC, has filed applications for a seven-story, seven-unit residential building at the 25-foot-wide vacant lot of 786 Park Place, in eastern Crown Heights, four blocks north of the Nostrand Av. stop on the 3 train. The building will measure just 4,865 square feet, which means units will likely be rentals, averaging 695 square feet. Richard Walsh, of Citiscape Consulting, is the applicant of record.
The five-story, 43,220 square-foot building dubbed 122 Community Center, at 150 1st Avenue, in the East Village, is currently being renovated and expanded to 52,380 square feet. EV Grieve notes interior demolition is currently underway, and the building will house The AID Service Center NYC, Mabou Mines, Painting Spaces 122 and PS122 when completed in Spring 2016. The Department of Cultural Affairs owns the building, and Deborah Berke Partners is designing the overhaul.