Developer iStar Financial and Coney Island USA have received the go-ahead to begin construction on the vacant but landmarked three-story, nearly 56,300 square-foot building at 3053 West 21st Street, on Coney Island. The structure and an adjacent vacant lot are being converted into a 90,000 square-foot complex featuring a 5,000-seat amphitheater. According to the Commercial Observer, a restaurant is also planned, and the $53 million project is expected to be finished by the middle of 2016.
Fortis Property Group is moving forward with their plans to convert Long Island College Hospital’s Cobble Hill buildings to residential, and now they’ve filed an application to renovate the landmarked Polhemus Building at 350 Henry Street into apartments.
Developer National Resources has received a $14 million construction loan for their planned residential building associated with i.Park Hudson, a mixed-use campus featuring offices, retail and apartments in downtown Yonkers. The residential building, UNO, will measure 70,000 square feet and have 96 units, according to the Commercial Observer. Located at 9 Bashford Street, the existing five-story industrial building will be converted and expanded upon by four stories (based off renderings).
Tai Song Lin has filed applications for a five-story, six-unit mixed-use building at 41-14 Haight Street, in Downtown Flushing. The building will total 5,500 square feet, and 1,130 square feet is being allotted for community facility space. A health office and a child daycare are in store, according to the Schedule A. Chang Hwa Tan’s Tan Architect is designing, and an existing two-story home must first be demolished.
L&L Holdings and GreenOak Real Estate have landed a $556 million construction loan for their 47-story, 893-foot-tall office building planned at 425 Park Avenue, in Midtown East. The developers are expanding the existing 32-story building office building to accommodate 670,000 square feet of modern office space. Partial demolition begins this month, and the building is scheduled to open in 2018.