99 and 103 Grove Street in January 2015, photo by Christopher Bride for PropertyShark

Boaz Gilad Plans Another in Bushwick: Permits Filed for 99 Grove Street

Prolific condo builder Boaz Gilad started out by developing new projects in Prospect Heights, Crown Heights, and Clinton Hill, where the market for buying condos and co-ops is pretty well-established. But the pursuit of cheaper land prices and bigger lots has pushed the Bed-Stuy based developer north and east into Bushwick. His firm, Brookland Capital, is currently working on eight buildings in the north Brooklyn neighborhood. Now they’ve filed plans for a ninth, at 99 Grove Street.

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Construction Underway At Bottega Veneta’s 740 Madison Avenue Boutique, Upper East Side

Construction of the 24,000-square-foot Bottega Venetta boutique store is in full swing at the intersection of Madison Avenue and East 64th Street. The retailer will occupy 740 Madison Avenue along with 23 and 25 East 64th Street. It acquired the property from the Wildenstein family of international art dealers in the fourth most expensive lease of 2014, with an estimated rent of $8 million. Sitting one block east of Central Park and a few blocks north of the Billionaires’ Row rising along 57th Street, the site is within the Upper East Side Historic District, meaning that the developer had to engage in a delicate design and approval process before starting work on the three 19th century buildings.

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Bushwick Inlet Park

City Acquires Large Swath Of Planned Bushwick Inlet Park At 1 North 12th Street, Greenpoint

Since the 2005 rezoning of Greenpoint and Williamsburg, the city has slowly been building out Bushwick Inlet Park, which was planned to span the waterfront from North 7th to 15th streets when combined with the East River State Park. A large swath of the waterfront is still occupied by CitiStorage warehouses between North 10th and 12th streets, and that site is expected to be sold to a team of developers, but the city is moving in to acquire the swath of land at 1 North 12th Street, between North 12th and 14th streets. The city is paying $53 million for the seven-acre plot of land, currently occupied by a three-story warehouses and the Bayside Fuel Oil Depot’s storage tanks, according to The Real Deal. If the initial plans are executed, the city will demolish everything and convert the entire lot into public park space. The new park space would be located right across Bushwick Inlet from the planned USS Monitor Park.