255 3rd Avenue

Developer To Acquire Assemblage Spanning 253-261 3rd Avenue, Gramercy

2:00 pm on July 22, 2015 By Reid Wilson

Apex Real Estate Investments recently purchased the properties spanning 257-259 3rd Avenue, in Gramercy, expanding an assemblage that now includes 253-261 3rd Avenue. Now Alfa Development is in contract to acquire the development site for $69.6 million. Condominiums are most likely planned for the site, which boasts roughly 90,000 square feet of building potential. Demolition permits were filed in 2014 for the three-story building at Nos. 253-255, although none are on file for the three- and five-story buildings at Nos. 257-261.

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150 West 225th Street

Renovations, Promenade Planned At 32-Story, 318-Unit Tower At 150 West 225th Street, Marble Hill

12:30 pm on July 22, 2015 By Reid Wilson

Nelson Management Group and L+M Development Partners are conducting a top-down renovation of the 32-story, 318-unit former affordable housing tower at 150 West 225th Street, in Manhattan’s Marble Hill. The outdoor deck abutting Spuyten Duyvil Creek will receive an extensive overhaul, featuring green space and cabanas. Dubbed The Promenade, the majority of the units are currently rent stabilized, but units are allowed to be converted into market-rate rentals if vacated, according to the Daily News. Renovations should wrap by 2016.

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179 Devoe Street

Four-Story, Three-Duplex-Unit Building Replacing Townhouse At 179 Devoe Street, Williamsburg

11:00 am on July 22, 2015 By Reid Wilson

Brooklyn-based Driggs Management has filed applications for a four-story, three-duplex-unit residential building at 179 Devoe Street, in eastern Williamsburg, around the block from the L train’s Graham Avenue stop. The building will measure 3,800 square feet in total, with duplex units averaging 1,265 square feet. Private roof space is also planned, and Hustvedt Culter Architects is the applicant of record. Permits were filed in May to demolish the existing three-story, three-unit townhouse, which traded hands for $1,100,000 in October 2014.

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645 Union Street

Five-Story, 78-Key Hotel Rises At 645 Union Street, Gowanus

10:00 am on July 22, 2015 By Reid Wilson

Foundation work has given away to vertical construction at 645 Union Street, in Gowanus, where a five-story, 78-key hotel is planned, dubbed Gowanus Inn & Yard. According to Brownstoner, Matt Abramcyk and Alec Shtromandel are developing, while Kutnicki Bernstein Architects is serving as the architect of record. The building, located at the R train’s Union Street stop, will measure 18,835 square feet in total, and a restaurant will operate in the cellar. Completion is expected in Summer of 2016.

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