180 East 88th Street

City Revokes Building Permits for 32-Story, 521-Foot-Tall Condo Tower Under Construction at 180 East 88th Street, Upper East Side

6:30 am on May 26, 2016 By Reid Wilson

It was in September of 2015 when YIMBY last brought you news of the 32-story, 48-unit mixed-use tower under development at 180 East 88th Street, on the Upper East Side. At the time, we showed you what the view would be like from one of the upper-floor residential units. Since March, foundation work has been underway at the site, but the New York City Buildings Department recently issued a stop-work-order for the project due to a zoning controversy that allegedly allowed the developers to build a taller tower than normal, the New York Times reported. The Buildings Department says a four-foot-wide lot was created on East 88th Street to avoid streetwall and setback requirements, which allowed for the creation of a taller building. As a result, the department revoked the previously approved building permits and is requiring that DDG Partners submit new plans. The condominium tower was expected to be the tallest building above 72nd Street, at 521 feet in height. HTO Architect was the architect of record, although DDG designs their projects in-house.

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38-42 11th Street

Reveal for 10-Story, 133-Key Extended-Stay Hotel Planned at 38-42 11th Street, Long Island City

6:00 am on May 26, 2016 By Reid Wilson

In September of 2014, YIMBY reported on applications for a 10-story, 133-key hotel planned at 38-42 11th Street, in the Ravenswood section of Long Island City, located four blocks from the 21st Street-Queensbridge stop on the F train. Now, a rendering of the project has been revealed in a report by The Real Deal. The latest building permits indicate the hotel, which will be an extended-stay one by Marriott’s TownePlace Suites, will encompass 69,045 square feet. If the project’s 50,457 square feet of commercial space is exclusively representative of the hotel units, individual rooms should average a relatively spacious 379 square feet apiece. Guest amenities include a fitness center, laundry facilities, a lounge and breakfast area, a garden area behind the building, a bar, a rooftop terrace, a 21-car garage on the ground floor, and storage for five bikes. Midtown Properties is the developer and Think! Architecture and Design is behind the architecture. Foundation work is reportedly underway at the site, and completion is scheduled before 2017.

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225 Howard Avenue

Four-Story, Six-Unit Residential Building Coming to 225 Howard Avenue, Ocean Hill

4:00 pm on May 25, 2016 By Reid Wilson

Flushing-based property owner Eran Tourgeman has filed applications for a four-story, six-unit residential building at 225 Howard Avenue, in Ocean Hill, located three blocks from the Ralph Avenue stop on the C train. The structure will measure 4,704 square feet, which means its residential units should average 784 square feet apiece, indicative of rental apartments. There will be two units per floor on the ground through third floors. The fourth floor will host a single unit that also spans into the third floor. Pirooz Soltanizadeh’s Jamaica-based Royal Engineering is the applicant of record. The 25-foot-wide, 1,986-square-foot lot is currently vacant. The site’s predecessor was a three-story wood-framed house, and it was demolished in 2008.

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575 Fifth Avenue

Renovations Planned at 575 Fifth Avenue, a 35-Story, 360,000-Square-Foot Office Tower in Midtown

3:00 pm on May 25, 2016 By Reid Wilson

Property owners Beacon Capital Partners and MetLife (the insurance company) are planning to execute a $25 million renovate on their 35-story, 533,695-square-foot multi-use commercial building at 575 Fifth Avenue, located on the corner of East 47th Street in Midtown. Planned is a redesigned lobby, new exterior and interior elements such as a building canopy, signage/advertising, and lighting, and new amenities such as a 6,000-square-foot conference center and a lounge, Real Estate Weekly reports. The 360,000-square-foot office portion already connects to the building’s three stories of retail and restaurants via an atrium. Barneys New York recently signed on to 72,000 square feet at the tower, and Westpac Banking Corporation and Northwood Investors each have leased 15,000 square feet. The building was developed in 1983.

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112-120 East 11th Street

85,000 Square-Foot, 300-Key MOXY Hotel Planned At 112-120 East 11th Street, East Village

2:00 pm on May 25, 2016 By Reid Wilson

This morning, we had hotel news for you. Now, we have more. In April, Lightstone Group acquired, for $127 million, a six-building, 181-unit residential portfolio for that comprises of 112-120 East 11th Street and 85 East 10th Street, in the East Village. The developer is currently planning to build a 85,000-square-foot, roughly 300-key boutique hotel at 112-120 East 11th Street, according to The Real Deal. Marriott International’s MOXY Hotels will be the operator. The five-story buildings at 112-120 East 11th Street currently contain 75 residential units across five buildings and are expected to be demolished. The other six-story, 106-unit building at 85 East 10th Street will remain and is expected to be sold off. The April acquisition was financed with an $85 million loan. The five apartment buildings at 112-120 East 11th Street represented $52.1 million, while the six story property at 85 East 10th Street traded for $75.4 million.

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