Investor Benzion Kohn has acquired the six-story, 182-rental-unit mixed-use building at 975 Walton Avenue, in The Concourse, for $31 million, per The Real Deal. The previous owners bought the 279,000 square-foot building for about $11.3 million in 2010; commercial space in the structure totals 1,000 square feet.
Antonio Pecora, head of TPEC LLC, has filed applications for a five-story, five-unit residential building at the vacant lot 656 St. Anns Avenue, in Woodstock. Rudy Dupuy is designing the building, of which is planned to measure 5,652 square feet.
Per The Real Deal, the Salvation Army has sold the development site spanning 176-180 Bedford Avenue, in northern Williamsburg, to Thor Equities for $36.1 million, which equates to $2,500 per square-foot. The site boasts 14,400 square feet of building potential, and undisclosed construction plans will almost surely include a large retail component.
While escalating prices are a bad thing, zoning limitations and historic districts are quickly turning the Lower East Side into one of the only parts of New York City where attractive and occasionally avant-garde architecture is legitimately feasible. YIMBY can now reveal the design for one of the neighborhood’s dwindling number of development sites, at 57 Orchard Street, where DXA Studio is designing a 15-story condominium tower.
A low-slung brick building at 555 Graham Avenue in Greenpoint is about to get a very unusual and glassy update, along with two extra floors of apartments.