Lend Lease has purchased a stake at Victor Group’s planned residential development at 281 5th Avenue, in Midtown South, according to Crain’s Business. First brought to you by YIMBY last December, a 51-story, 140-unit mixed-use tower — to span 250,000 square feet and stand 750 feet — is planned for the 30th Street site. Although the size of Lend Lease’s stake is unknown, the project will total $400 million, and ground breaking is expected this year. Multiple existing low-rise structure must first be demolished, and the final design has not yet been revealed.
The commercially zoned no man’s land around Flushing Meadows Park and Willets Point has seen a big uptick in development, as longtime property owners prepare for the planned $3 billion redevelopment of the auto body shops next to Citi Field. New building applications were filed today for two properties nearby at 131-10 and 132-32 Avery Avenue, just east of Flushing Meadows Park between 131st Street and College Point Boulevard.
Revealed by YIMBY last September, Naftali Group has redesigned the interiors of their under-construction 18-story, 25-condo-unit mixed-use building at 210 West 77th Street, on the Upper West Side. After the initial sales launch failed, changes were implemented to include more amenities, and now almost half of the units have gone into contract, reports Crain’s Business. Occupancy is expected in the Fall of 2016.
The property owner, doing business as 123 Park LLC, of 127 27th Avenue, in western Gravesend, has filed applications for a four-story, five-unit residential building measuring 4,520 square feet. Steven Schneider, of Schneider Associates, is designing, and the dilapidated two-story structure recently passed pre-demolition inspection.
The property owner of 18-23 25th Road, in western Astoria, has filed applications for a two-story, two-family residential building measuring 2,050 square feet. Malliaros Stravos is designing, and an existing two-story abode receded from the street must first be removed.