Clarion Partners has purchased a 70 percent stake in the vacant 14-story, 182,000 square-foot American Stock Exchange Building at 86 Trinity Place, in the Financial District. Clarion payed $105 million to GHC Development, and the developer plans to convert the former office building into commercial-retail and a 156-key hotel. Retail space will be located from the ground floor through the fifth floor, while the hotel will be located on the upper floors. A restaurant will be built on the sixth floor. The building’s floor area will technically be expanded, thanks to expansions on the fourth floor, the addition of a fifth floor, and enlargements towards the top of the building. David Nicholson’s Hell’s Kitchen-based SBLM Architects is the architect of record. [The Real Deal]
Last week, Brownstoner brought us a construction update on the seven-story, 74-unit residential redevelopment at 51 Jay Street, in DUMBO, and now YIMBY can announce the expansion project has officially topped out. Its residential units average 1,815 square feet apiece and have commanded one of the highest price per-square-foot figures in the neighborhood, selling at $2,083 per-square-foot. The building is nearly 75 percent sold, as reported earlier, and move-ins are expected sometime next summer or fall. Residents will have a slew of amenities available to them, and 1,333 square feet of retail space is planned on the ground floor. Slate Property Group and Adam America Real Estate are the developers, while ODA Architecture designed the project.
The TWA Flight Center at John F. Kennedy International Airport has been out of commission for 14 years, but if all goes according to plan, it will welcome a new slew of visitors starting in just a few years. MCR Development is planning to redevelop the landmarked 1962 Eero Saarinen building into the TWA Flight Center Hotel. It got approval from the Port Authority of New York and New Jersey in September, but yesterday announced that it is commencing the city’s Uniform Land Use Review Procedure, or ULURP.
A curved brick factory turned yeshiva is expanding at the corner of Flushing and Franklin Avenues, in the borderlands between Williamsburg and Bed-Stuy, and YIMBY has a rendering of what the school will look like once renovations finish.
The Toll Brothers’ new condo building is rising fast on the campus of the Church of St. Luke in the Fields in the West Village, and Tectonic captured some photos of the construction progress. The structure at 100 Barrow Street has reached six stories so far, but it will ultimately top out at 12 stories tall.