New York YIMBY

Five-Story, Five-Unit Residential Conversion Planned At 25 Mercer Street, SoHo

11:00 am on January 26, 2016 By Reid Wilson

The five-story mixed-use building at 25 Mercer Street and the three-story property at 27 Mercer Street, located in the SoHo-Cast Iron Historic District, are expected to be converted into a single five-unit condominium building, according to Curbed NY. There will be four full-floor units and a duplex penthouse, and the residences are expected to hit the market this spring. GDS Development is developing and Fogarty Finger is designing the project, dubbed 25 Mercer. Alterations that would go into the conversion would have to be approved by the Landmarks Preservation Commission since the property is located within a historic district.

Developer, SCA Reach Deal At Planned Mixed-Use Development At 42 Trinity Place, Financial District

10:00 am on January 26, 2016 By Reid Wilson

Early last year, YIMBY brought you conceptual renderings of the possible supertall mixed-use tower that could rise at 42 Trinity Place, in the Financial District. Now the developer, Trinity Place Holdings, reached a deal with the city’s School Construction Authority (SCA) to build an elementary school in the base of the building, Tribeca Trib reports. The public school will boast 476 seats and a design is expected to be released of it this upcoming summer. In 2013, the city put forth $27.5 million in its budget to build a new school in the Financial District. The scope of the entire project has yet to be revealed, but it could potentially measure upwards of one million square feet and have retail, hotel, and residential components. Multiple buildings must first be demolished.

Local Politicians Spearhead Request by 26th Floor Resident Of The Sovereign for 250-Foot Height Limit in Vicinity

8:00 am on January 26, 2016 By Nikolai Fedak

On Friday, Crain’s reported on a rezoning proposal to downzone Sutton Place and institute a 260-foot height limit on new developments in the area. What wasn’t reported was the real cause behind this not-so-arbitrary figure: the leader of the East River Fifties Alliance, Alan Kersh, happens to live on the 26th floor of The Sovereign, which at 47 stories tall, is almost double the height limit its residents want to force on new buildings in the blocks to the south.

21 West End Avenue Nears the Finish Line on the Far West Side

7:00 am on January 26, 2016 By Rebecca Baird-Remba

When we last checked in with 21 West End Avenue back in 2014, only a few stories of the 43-story tower had risen above street level. Now, Dermot Company is putting the finishing touches on the 529-foot-tall building between West 60th and 61st streets, and YIMBY reader Tectonic swung by for a construction update.

Landmarks Not Ready To Approve New Three-Family House At 348 Clermont Avenue, Fort Greene

7:00 am on January 26, 2016 By Evan Bindelglass

A new residential building is probably coming to a vacant lot on Clermont Avenue, between Lafayette and Green avenues, in Brooklyn’s Fort Greene Historic District. It just won’t be quite what was proposed to the Landmarks Preservation Commission on last Tuesday. The commission did not approve the plan for a three-family, four-story structure at its public hearing.

446 Park Avenue in September 2014, image via Google Maps

Permits Filed: 446 Park Avenue, Bed-Stuy

6:30 am on January 26, 2016 By Rebecca Baird-Remba

Park Avenue in Brooklyn begins underneath the elevated, dark Brooklyn-Queens Expressway in Clinton Hill and runs east into Bed-Stuy, where it transitions into an odd mix of warehouses, little brick apartment buildings, and aging 19th century wood frame houses. Much of the avenue was originally developed for workers at the Navy Yard, which sits a block away, but Orthodox Jews have settled the area over the last few decades. And now, even the once-desolate industrial blocks just east of the highway are becoming populated with new residential buildings. Yesterday, applications were filed for a five-story building there at 446 Park Avenue, between Kent and Franklin Avenues.

Four-Story, 35,000 Square-Foot Retail Project Planned At 257-263 West 34th Street, Midtown

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

Cornell Realty Management is planning to build a four-story, 35,000 square-foot retail project at 257-263 West 34th Street, in the Garment District, according to Crain’s New York Business. According to The Real Deal, which reported on the assemblage last month, Chetrit Group and Cornell Realty acquired the three-story retail building at 261-263 West 34th Street together last March for an undisclosed amount. 259 West 34th Street was also recently acquired for $20.5 million. Chetrit and Cornell have since cut their partnership and, through a deal, have split their properties into separate ownerships. Cornell’s retail project will be clad in glass and construction is expected to begin sometime this year. A total of three small retail buildings must first be demolished.

Financing Complete For 25-Story, 115-Unit Mixed-Use Project At 565 Broome Street, Hudson Square

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

Over the summer summer, YIMBY partially revealed renderings for the planned 25-story, 115-unit residential building at 565 Broome Street (a.k.a 100 Varick Street), in Hudson Square. The developers have now secured a $320 million construction loan for the project, according to Crain’s, and Cindat (the U.S. branch of Beijing-based China Cinda Asset Management Co.) also acquired a $135 million stake in the project. The development team – SHVO, Bizzi & Partners Development, Halpern Real Estate Ventures, Aronov Development, and Itzhaki Acquisitions – recently acquired the two-story annex at 555 Broome for $9 million, completing the assemblage.

Reveal For Six-Story, 71-Unit Mixed-Use Building At 165 Huguenot Street, New Rochelle

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

Last October, YIMBY brought you news that Anup Misra, head of East & Hudson Real Estate, is developing a six-story, 71-unit mixed-use building at 165 Huguenot Street, in downtown New Rochelle. Now, the Daily Voice has a rendering of the project, dubbed the Print House. The 64,000- square-foot building will feature studio, one-, and two-bedroom rental apartments, measuring between 500 and 975 square feet apiece. There will also be 3,000 square feet of ground-floor retail space. The New Rochelle Industrial Development Agency recently approved a 12-year Payment in Lieu of Taxes (PILOT) structure for the project, which is a tax incentive. An existing two-story commercial building must first be demolished. Construction is expected to begin this spring, with completion scheduled in 2017. Magnusson Architecture & Planning is behind the design.

Request For Proposals Released For Mixed-Use Development Site At 2870 Webster Avenue, Bedford Park

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

The New York Botanical Garden has released a Request for Proposals (RFP) for a mixed-use development assemblage at 2856-2870 Webster Avenue and 412 Bedford Park Boulevard, in Bedford Park. According to Curbed NY, the site could accommodate roughly 300 residential units, in addition to a 125-plus-key hotel and at least 12,000 square feet of retail. The site is located right above the Metro-North Railroad’s Botanical Garden station and currently consists of multiple low-rise commercial buildings. Proposal submissions are due on March 1, and the Garden is hoping to choose a developer before April.

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