550 Washington Street

City Council Approves Five-Building, 1,586-Unit Mixed-Use Project at 550 Washington Street, Hudson Square

1:00 pm on December 19, 2016 By Reid Wilson

Last week, the City Council approved plans for Atlas Capital Group and Westbrook Partners to acquire $100 million worth of air rights from Pier 40, overseen by the Hudson River Park Trust, to develop a 1,586-unit mixed-use complex at 550 Washington Street, in Hudson Square. The project is set to include five towers, the New York Times reported, although their height was not disclosed. Thirty percent of the units, or 475 apartments, will rent at below-market rates through the housing lottery. One of the residential towers will be geared towards “older tenants.” There would also be retail space and a 15,000-square-foot recreation center.

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1041 Flushing Avenue

Four-Story, 8,569-Square-Foot Commercial Building Planned at 1041 Flushing Avenue, East Williamsburg

11:30 am on December 19, 2016 By Reid Wilson

A Brooklyn-based company has filed applications for a four-story, 8,569-square-foot commercial building at 1041 Flushing Avenue, on the southern end of East Williamsburg. The ground and cellar levels will contain a 2,100-square-foot restaurant, followed by a 4,369-square-foot daycare center across the second through fourth floors. Syed Rizvi’s Long Island-based Rike Tech Associates is the applicant of record. The 25-foot-wide, 2,695-square-foot lot is vacant. The Morgan Avenue stop on the L train is six blocks away.

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29-37 41st Avenue

New Developer Acquires Site of Planned 70-Story, 930-Unit Mixed-Use Tower at 29-37 41st Avenue, Long Island City

10:00 am on December 19, 2016 By Reid Wilson

The Durst Organization has acquired, for $173.5 million, the high-profile mixed-use development site at 29-37 41st Avenue, in Long Island City’s Court Square section. The new owner plans to build a tower with 1,000 rental apartments, rising as tall as 914 feet above street level, the New York Times reported. It’s expected that 25 percent, or 250 units, will rent at below-market rates through the housing lottery, Real Estate Weekly reported. The project would also include the creation of a half-acre public park. The sale included the vacant 14-story, 49,300-square-foot commercial building at 27-29 Queens Plaza North, an individual landmark, which was expected to receive a renovation by the same previous developers.

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Pier 26

New Renderings Revealed of Plans to Turn Pier 26 Into Public Park, TriBeCa

8:00 am on December 19, 2016 By Reid Wilson

New renderings have been revealed of the Hudson River Park Trust’s plans to transform the mostly vacant, 800-foot-long Pier 26, located in the Hudson River off TriBeCa, between North Moore and Hubert streets, into a public park. The $30 million overhaul would include a maritime education center, known as an estuarium, multiple landscaped areas with different kinds of vegetation, walking paths, seating, and playgrounds. The overhaul is getting equal financing from the city, the Lower Manhattan Development Corporation, and Citigroup, through a donation. OLIN Studio, a landscape architecture firm, is designing much of the pier, although Rafael Viñoly’s firm is designing the estuarium building. The plans are not final, although construction is anticipated to begin in roughly a year, Tribeca Citizen reported.

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