Kushner Companies, LIVWRK, and the CIM Group have closed on the purchase, for $345 million, of the 135,000-square-foot development site at 85 Jay Street, in DUMBO. The full-block property, currently vacant, could accommodate up to 1.1-million square feet of mixed-use development, the New York Post reported. The new owners plan to develop the site within current zoning laws. A project “with mixed uses” is planned, although plans are very preliminary. It was reported earlier that the site could host as many as 1,000 residential units. The team is in the process of hiring architects and consultants.
In late November, Related Companies filed applications for a four-story, 21-unit residential building at 19-14 20th Avenue, in the Ditmars section of Astoria. Now the developer has filed applications for a second building: a four-story, 32-unit residential structure, at 18-12 20th Avenue. All 53 of the new residential units will rent at below-market rates to veterans, with 20 percent set aside for homeless soldiers. Gran Kriegel Associates will be responsible for the architecture. Two single-story parking garages will have to be demolished for the new structures. Both buildings will be part of Related’s revamp of the seven-building, 444-unit Marine Terrace residential complex, which will get comprehensive renovation of its own.
A Queens-based property owner has filed applications for a four-story, five-unit mixed-use building at 41-16 Haight Street, in downtown Flushing. The project, measuring 7,180 square feet, will feature 1,780 square feet across the ground and cellar levels for a children’s daycare center, followed by five residential units on the second through fourth floors. The apartments should average 724 square feet apiece, indicative of rental units. Robert H. Lin’s Flushing-based A&T Engineering is the applicant of record. The 20-foot-wide, 2,000-square-foot lot is occupied by a two-story house. Demolition permits were filed in November.
Stagg Group, which is building several market-rate projects throughout the Bronx, is also working on a partially-affordable development in Bedford Park, a working class Bronx neighborhood home to Puerto Rican, Dominican, Ecuadorian, and Indian communities.
In 2014, the Fort Lee, N.J., skyline got its first new high-rise in over a decade. The Modern, at 800 Park Avenue, is a glassy, 496-foot-tall, 47-story, 450-unit rental building. Now, its twin is rapidly rising.