The Port Authority has approved a multi-billion-dollar plan to replace the Port Authority Bus Terminal between 8th and 9th Avenues and West 40th and 41st Streets, in Midtown West, according to the New York Post. The project will cost between $7 and $10 billion dollars, and funding will come from the sale of air rights, residential units, and commercial spaces. A design competition is expected to be held, and a team will be chosen by September of 2016.
Back in August, YIMBY brought you news that Madison Equities was in contract for the development site at 45 Broad Street, in the Financial District, and now the developer has closed on the property for $86 million. Madison Equities is partnering with Pizzarotti-IBC to build a 65-story condominium tower, potentially totaling 290,000 square feet. AMS Acquisitions is also a minority investor, and Cetra/Ruddy is designing the project. Completion of the tower is tentatively scheduled by 2019.
On Thursday, the Landmarks Preservation Commission held its second public hearing in an effort to clear its decades-long backlog of items proposed for designation. The day’s items were those on Staten Island, and they included the proposed Sailors’ Snug Harbor Historic District. The 80-acre property has been on the calendar for over three decades and while the majority of those who spoke on Thursday supported designation of the district, there wasn’t unanimity.
Dawanna Williams, of BCDL Real Estate Development, has filed applications for twin three-story, three-unit residential buildings at 653-655 Hinsdale Street, on the western edge of East New York, three blocks from the L train’s stop at New Lots Avenue. The buildings will each measure 3,636 square feet, which means the units — four of six are indicated as duplexes — will average 1,212 square feet. Jose Carballo’s Hackensack, NJ-based JCA Group is the applicant of record, and the plot of land is currently vacant.
Development sites in East Harlem are disappearing fast, as investors snap up the neighborhood’s once-derelict lots and vacant buildings. But one developer managed to snag a vacant lot at 228 East 118th Street, between Second and Third Avenues. New building applications were filed earlier today to erect a seven-story apartment building on the 55-foot-wide lot.