New York YIMBY

41-Story, 670,000-Square-Foot Office Tower At 425 Park Avenue Lands Anchor Tenant, Midtown

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

In late 2014, YIMBY brought you new renderings of the Foster + Partners-designed 41-story, 897-foot-tall office tower under development at 425 Park Avenue, between East 55th and 56th streets in Midtown, and now project has secured its anchor tenant with a city-wide record-breaking lease. According to Real Estate Weekly, Chicago-based Citadel will take roughly 200,000 square feet in the 670,000-square-foot building, with rents as high as $300 per square foot on the tower’s penthouse floors. The project, being developed byL&L Holding and GreenOak Real Estate, is aiming for L.E.E.D. Gold and WELL certifications. This past summer, the developers secured a $556 million construction loan and the site’s 32-story office predecessor has since been significantly demolished. The lower portion of the existing structure will be utilized in the new building and completion is expected in late 2018.

4507 Third Avenue, image via Google Maps

St. Barnabas Hospital Plans Two Tower Residential Complex at 4507 Third Avenue in the Bronx

8:00 am on February 19, 2016 By Rebecca Baird-Remba

Last September, L+M Development filed plans for a 12-story affordable rental building on a vacant lot next to St. Barnabas Hospital in the Belmont section of the Bronx. Now the hospital is developing a large residential project with two towers on another empty plot at 4507 Third Avenue, between 182nd and 183rd streets.

Rendering of proposal for 75 St. Marks Avenue.

No Landmarks Approval for Addition to 75 St. Marks Avenue in Prospect Heights

7:30 am on February 19, 2016 By Evan Bindelglass

A three-story row house in Brooklyn is going to stay that way for the time being. On Tuesday, the Landmarks Preservation Commission did not approve a proposed addition to 75 St. Marks Avenue, near the…

363 Lafayette Street, image via Google Maps

Ironstate Plans an Office Building at 363 Lafayette Street in NoHo

7:00 am on February 19, 2016 By Rebecca Baird-Remba

Ironstate shelled out $150 million last year for a 49-year lease at 363 Lafayette Street in NoHo, right in the heart of New York University’s territory. Now, they’re planning a nine-story office building on the site between Great Jones and Bond streets.

Landscape Renovations Underway At NYU’s Bleecker Street, LaGuardia Place Plazas, Greenwich Village

6:30 am on February 19, 2016 By Vitali Ogorodnikov

New York University’s 1.6-million-square-foot expansion looms on the horizon, in anticipation of its distant 2035 completion. However, well ahead of any significant redevelopment, a smaller overhaul of street-adjacent community space is already underway. NYU is collaborating with the NYC Department of Parks and Recreation to upgrade two linear, street-facing plazas at LaGuardia Place and Bleecker Street.

Bronx Borough President Proposes Upgrading Pelham Bay Park’s Orchard Beach Pavilion

6:00 am on February 19, 2016 By Reid Wilson

Bronx Borough President Ruben Diaz Jr. is proposing to redevelop the Orchard Beach pavilion, an individual landmark, that currently serves as the focal point for Pelham Bay Park, in the East Bronx. The structure, which was completed in 1936, would be transformed to allow for more event space, food concessions and retail space, according to The Real Deal. Nearby the pavilion, the park includes picnic areas, the Pelican Bay Playground, and a beachfront. The pavilion portion of the project is being estimated to cost $40 million, although plans have been in the works for some time to upgrade the rest of the beach, which could cost up to $200 million in total. Diaz has designated $10 million in capital toward the project. The Landmarks Preservation Commission would have to approve any alterations to the Orchard Beach pavilion.

RKO Keith’s Theater Mixed-Use Development Site Being Placed Back On The Market, Flushing

4:00 pm on February 18, 2016 By Reid Wilson

In 2013, Jerry Karlik’s JK Equities acquired the RKO Keith’s Theatre, an individual landmark at 135-27 – 135-35 Northern Boulevard in Downtown Flushing, for $30 million. The developer received approval to redevelop the severely dilapidated structure in 2015, but now Karlik is putting the development site back on the market, Crain’s reports. A new developer could build a 16-story, 269-unit mixed-use building with 24,493 and 15,727 square feet of commercial and community facility space, respectively. A buyer could also take advantage of a previously granted tax break. Studio V Architecture was behind JK Equities’ proposal, although a new owner could always choose to design a different building and go back to the Landmarks Preservation Commission for approval. Cushman & Wakefield is marketing the site.

Two Four-Story, Eight-Unit Residential Buildings Filed At 83 Stanhope Street, Bushwick

3:00 pm on February 18, 2016 By Reid Wilson

Isaac Silber, doing business as an anonymous Brooklyn-based LLC, has filed applications for two four-story, eight-unit residential buildings at 83-85 Stanhope Street, in central Bushwick, located three blocks from the Central Avenue stop on the M train. Each of them will have 5,457 square feet of residential space, which means units will average a rental-sized 682 square feet apiece. Each building will also have a fifth-floor penthouse level to which one of the fourth-floor units will have access. Midtown East-based Michael Avramides is the architect of record. Two two-story townhouses must first be demolished.

Foundation Work Underway For Six-Story, 40-Unit Medical Office Building At 5521 Eighth Avenue, Sunset Park

2:00 pm on February 18, 2016 By Reid Wilson

In October of 2014, YIMBY revealed renderings of the planned six-story, 40-unit multi-use commercial building at 5521 Eighth Avenue, on the corner of 56th Street in Sunset Park, located seven blocks north of the N train’s stop on Eighth Avenue. The Brooklyn Daily Eagle reports foundation work is now underway on the 81,569 square-foot project, which will include 36 medical offices and four retail units. The retail space will measure 13,003 square feet in total and will span the ground floor and a mezzanine level. The medical offices will begin on the second floor and should average 1,180 square feet apiece. Flushing-based Andy Wong filed documents with the Attorney General’s office in January, which indicated the project is being valued at $76.3 million. Raymond Chan is designing and completion in 2017 seems likely.

28-Story, 150-Unit Mixed-Use Building Rises At 436 Albee Square, Downtown Brooklyn

1:00 pm on February 18, 2016 By Reid Wilson

In November of 2014, YIMBY revealed renderings of the planned 28-story, 150-unit mixed-use building at 436 Albee Square, in Downtown Brooklyn, located only a few blocks from stops on roughly a dozen subway lines. The Department of Buildings granted permits in March 2015, and since then the building has risen three stories above street level, as seen in photos by Tectonic. The latest filings have the project measuring 155,100 square feet in total and including 23,740 square feet of commercial-retail space on the cellar through third floors. The residential units will begin on the fourth floor and should average 793 square feet apiece. ODA New York is designing and Yoel Schwimer is the developer. Completion in 2017 seems probable.

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