Lalezarian Properties has acquired a warehouse at 606 West 30th Street, in West Chelsea, for $36 million. The site currently has roughly 30,000 square feet of development rights, and is zoned for retail or light manufacturing, but the developer is likely waiting on a rezoning that would allow for residential use. The site is located across from the High Line and Related’s multi-skyscraper Hudson Yards development. [The Real Deal]
A combination of landmarking and unusual manufacturing zoning have frozen Soho in the early 20th century, but every once in a while, a developer scoops up a non-contextual and underutilized property hidden among the cast iron 19th century facades. One of those builders, KUB Capital, has filed plans to erect an eight-story, six-unit building at 146 Wooster Street, between West Houston and Prince Street.
In June 2014, YIMBY revealed renderings of the office-to-residential conversion of the 10-story building at 11 Beach Street, in Tribeca, and now construction is well underway, per Curbed. An atrium has been carved out of the building’s center, and the converted structure will contain 27 three- to five-bedroom condominiums, averaging an impressive 3,975 square feet apiece. HFZ Capital is developing, while BKSK Architects is designing; interiors are being designed by Thomas Juul-Hansen. Completion is expected in 2016.
The Nassau County IDA has approved tax breaks for the 42-unit, $8.1 million rental development planned at 100 Secatogue Avenue, in Farmingdale, a stone’s throw away from the LIRR station and two blocks from Main Street. According to Newsday, Cornerstone At Farmingdale, LLC, is developing, and ten percent of the residential units will be leased at below market rates. Construction is expected to begin this fall for a summer 2016 completion, although a two-story commercial building must first be demolished.
Back in January, YIMBY reported that a 40-story tower was coming to 532 Neptune Avenue, in Coney Island. Now we have a few new renderings for the project, thanks to a tipster, which is being designed by SLCE Architects and developed by Cammeby’s International Group.