New York YIMBY

Nine-Story Building At 5 East 59th Street Getting Office & Retail Conversion, Midtown

12:00 pm on October 26, 2015 By Reid Wilson

GreenOak Real Estate and Capstone Equities are transforming the nine-story, 40,000 square-foot former Playboy Club building at 5 East 59th Street, right around the corner from Central Park, into an eight-story structure fitted for a single commercial tenant, according to Commercial Observer. The building will feature retail and showroom space on the lower levels, and office space on the upper floors. The property was purchased for $85 million over the summer, and Newmark Grub Knight Frank are marketing the building’s lease.

Mixed-Use Renovation Planned For Landmarked 4.5-Story Building At 109 Gates Avenue, Clinton Hill

11:00 am on October 26, 2015 By Reid Wilson

The neglected 4.5-story building at 109 Gates Avenue, in southern Clinton Hill, has been acquired by an unknown buyer for $2.9 million, according to Brownstoner. The buyer reportedly plans to renovate the landmarked building into luxury rental apartments, with a retail unit on the ground floor. Back in 2003, the LPC approved a restoration of the building to its current state, the first renovation since 1908.

Four-Story, Six-Unit Residential Building Filed At 727 Lafayette Avenue, Bedford-Stuyvesant

10:00 am on October 26, 2015 By Reid Wilson

Property owner Cyrous Akhavan has filed applications for a four-story, six-unit residential building at 727 Lafayette Avenue, in central Bedford-Stuyvesant, three blocks east of the G train’s stop at Nostrand Avenue. The building will measure 5,000 square feet, which means units will average 833 square feet. Russell Dance’s Queens-based RLD3 Engineering is the applicant of record, and the site’s dilapidated two-story predecessor was demolished late last year.

Three-Story, Two-Unit Mixed-Use Building Planned At 43-50 162nd Street, East Flushing

8:00 am on October 26, 2015 By Reid Wilson

Henry Cheng, head of 162 Realty Management LLC, has filed applications for a three-story, two-unit mixed-use building at 43-50 162nd Street, in East Flushing, located four blocks from the Broadway station on the LIRR. The building will measure 7,240 square feet, which includes 1,079 and 1,811 square feet of community and retail space, respectively, on the ground floor. On the second and third floors, two full-floor residential units will average a spacious 2,175 square feet. Flushing-based Thee Shiun Ken is the applicant of record, and the site’s two-story predecessor was demolished over the summer.

Revealed: 44 Kent Street, New Greenpoint Rental Development

8:00 am on October 26, 2015 By Nikolai Fedak

Earlier this year, YIMBY found an on-site drawing for a new development coming to 44 Kent Street, in Greenpoint. The plans were originally created for Cayuga Capital, but the firm sold the property for $8,750,000 last year to an LLC. Now, we can reveal that Pinny and Moishe Loketch of the Loketch Group are the new developers, and the design has also seen major changes, with Nataliya Donskoy’s ND Architecture and Design taking over the project.

71-66 Parsons Boulevard, image via Google Maps

Permits Filed: 71-66 Parsons Boulevard, Pomonok

7:30 am on October 26, 2015 By Rebecca Baird-Remba

As New York City’s development boom pushes further into the outer boroughs, builders are looking for more affordable properties in neighborhoods where few developers have been willing to tread since the city’s real estate market bottomed out in 2009.
But now the area east of Queens College—known as Pomonok or Kew Gardens Hills—is finally seeing some new construction. Bi Yuan Chen, of Flushing-based Parsons Tower LLC, is planning a seven-story apartment building with a daycare at 71-66 Parsons Boulevard, according to applications filed with the Department of Buildings on Friday.

109-19 72nd Road, Forest Hills, image via Google Maps

Permits Filed: 109-19 72nd Road, Forest Hills

7:00 am on October 26, 2015 By Rebecca Baird-Remba

New development rarely arrives in Forest Hills, Queens, thanks to restrictive zoning and a densely built landscape of co-op buildings and single-family homes. But the city upzoned a small piece of the picturesque neighborhood just south of Queens Boulevard in 2009.

Port Authority Approves Multi-Billion-Dollar Redevelopment of Midtown Bus Terminal

6:30 am on October 26, 2015 By Reid Wilson

The Port Authority has approved a multi-billion-dollar plan to replace the Port Authority Bus Terminal between 8th and 9th Avenues and West 40th and 41st Streets, in Midtown West, according to the New York Post. The project will cost between $7 and $10 billion dollars, and funding will come from the sale of air rights, residential units, and commercial spaces. A design competition is expected to be held, and a team will be chosen by September of 2016.

Developers Close On 45 Broad Street, Plan 65-Story Condo Tower, Financial District

6:00 am on October 26, 2015 By Reid Wilson

Back in August, YIMBY brought you news that Madison Equities was in contract for the development site at 45 Broad Street, in the Financial District, and now the developer has closed on the property for $86 million. Madison Equities is partnering with Pizzarotti-IBC to build a 65-story condominium tower, potentially totaling 290,000 square feet. AMS Acquisitions is also a minority investor, and Cetra/Ruddy is designing the project. Completion of the tower is tentatively scheduled by 2019.

Advocates Clash Over Sailors’ Snug Harbor Historic District On Staten Island

4:30 pm on October 23, 2015 By Evan Bindelglass

On Thursday, the Landmarks Preservation Commission held its second public hearing in an effort to clear its decades-long backlog of items proposed for designation. The day’s items were those on Staten Island, and they included the proposed Sailors’ Snug Harbor Historic District. The 80-acre property has been on the calendar for over three decades and while the majority of those who spoke on Thursday supported designation of the district, there wasn’t unanimity.

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