Artist Jeff Koons has acquired the three-story commercial building at 624 West 52nd Street, near the Hudson River in Hell’s Kitchen, for $12.7 million. Koons also owns the lots at 620-622 West 52nd Street, after picking them up this past May for a total of $11 million. The assemblage boasts nearly 50,200 square feet of development potential, although plans for the properties are not known.
BLDG Management Company has landed a $254 million construction loan for their planned mixed-use project spanning 212-222 East 44th Street, in Midtown East, per Commercial Observer. YIMBY reported on the project’s design competition earlier in 2015, and a 42-story, 429-unit building is planned, with 87 apartments to be set aside as lottery-allocated housing. On the ground floor, 7,160 square feet of retail space is planned.
Hotel developers have started flocking to the transit-rich and industrially zoned area around Queensboro Plaza, but it looks like the hotel boom has moved north towards the Astoria borderlands. New building applications were filed today for a nine-story hotel at 12-02 37th Avenue in Long Island City, at the edge of the neighborhood’s Industrial Business Zone.
Earlier this week, YIMBY revealed the planned nine-story, 175-key Hoxton Hotel at 97 Wythe Avenue, in northern Williamsburg, and now the project’s designer, Perkins Eastman, sent along updated renderings showing slight tweaks in the façade. The 59,910 square-foot building will include some form of restaurant operations on the terraced second floor and the roof. Sydell Group is developing, and the site’s former single-story structure was demolished in late 2014.
Property owner Shahram Nassi has filed applications for two five-story, three-unit residential buildings at the vacant lots of 5-18 – 5-20 51st Avenue, in Hunts Point, Long Island City. The buildings will measure nearly 5,000 square feet, which means units will probably be condos, averaging 1,665 square feet. One duplex unit will share the first floor with the lobby and then take up the entire second floor. Another will occupy the third floor, and the last duplex will span the fourth and fifth floors. Issac & Stern Architects is designing.
