The City Council has voted to approve the re-zoning of a five-block stretch of Vanderbilt Avenue in Midtown East, per Capital New York. SL Green’s proposed 67-story, 1,501-foot-tall One Vanderbilt is the first building to maneuver the rezoning, and a full-council vote could come as early as the end of May. SL Green is funding $220 million in transportation improvements for Grand Central, and completion is expected in 2020.
190 Bowery is on its way to a rebirth. The building that sits at the corner of Bowery and Spring Street will once again become an office building with ground floor retail, but will keep the graffiti that has accumulated over the years, thanks to approval from the Landmarks Preservation Commission.
SMA Equities has acquired the three low-rise properties spanning 295-299 3rd Avenue, in Gramercy, which amount to 13,000 square feet of mixed-use space, for $27.8 million. Per The Real Deal, the assemblage boasts 46,000 square feet of building potential, and development plans have yet to be disclosed.
Two more applications have been filed that would replace another single-family structure in the neighborhood of Rego Park, and Laurelton, an even rarer vacant lot, in central and eastern Queens, respectively. The burgeoning demand for residential units makes it more attractive to redevelop lots that would otherwise remain single-family homes.
The property owner of the single-family home at 63-33 Alderton Street, in Rego Park, has filed applications for a two-story, two-family building measuring 2,405 square feet. The existing structure will be utilized and expanded upon during construction, and Chang Hwa Tan is designing.
Last September, YIMBY brought you news of a 26-story, 115-unit mixed-use building planned for 27-21 44th Drive, in Long Island City, which Silvercup Properties is developing. The Court Square Blog now reports demolition of the site’s former single-story structure is nearly complete. The DOB also approved permits in April, so construction is likely now imminent.