Commercial

120,000-Square-Foot Greenmarket Regional Food Hub Planned Along Food Center Drive, Hunts Point

3:00 pm on August 15, 2016 By Reid Wilson

As part launching the New York State Grown & Certified program, Gov. Andrew Cuomo has announced plans for a new 120,000-square-foot food facility, dubbed Greenmarket Regional Food Hub. It will be located at an undisclosed location along Food Center Drive in the South Bronx’s Hunts Point section and will have processing facilities and a farmer’s market, Crain’s reported. The food hub, expected to cost $20 million, is scheduled to be completed sometime in 2017. Food products will be delivered to the Hunts Point location from small- to mid-sized farms throughout upstate New York. A 100,000-square-foot expansion is planned at the Baldor Specialty Foods facility at 155 Food Center Drive, although it’s unclear if the two projects are connected.

New Developers Acquire Site Of Planned Commercial Project at 206 Kent Avenue, Williamsburg

6:00 am on August 15, 2016 By Reid Wilson

Two anonymous entities have acquired, for $33 million, the vacant 22,640-square-foot development site at 206 Kent Avenue, in northern Williamsburg, Commercial Observer reported. That’s the property bound by Kent and Metropolitan avenues and River and North 3rd streets, located a block in from the East River. The previous owner, Alliance Private Capital Group, was planning a 45,000-square-foot mixed-use commercial building with retail space on the ground floor and office space above. In fact, the grocery store Trader Joe’s signed a lease last year for 18,000 square feet of space across the ground and cellar levels. It hasn’t been confirmed if the new owners plan to follow through with the same project. New building applications haven’t been filed.

Two-Million-Square-Foot Kearny Point Industrial Park to Get Modern Commercial Transformation, New Jersey

6:30 am on August 12, 2016 By Reid Wilson

Manhattan-based Hugo Neu Corporation has tasked design and engineering firms STUDIOS Architecture and WXY to convert the 130-acre, two-million-square-foot Kearny Point Industrial Park, in Kearny, into a modernized, mixed-use commercial campus. The industrial park is located in the town’s southern section sandwiched between Jersey City and Newark, in Hudson County, New Jersey. The plan is to preserve the existing industrial buildings and warehouses, many of which are historic, Real Estate Weekly reported. The conversion is expected to attract a wide variety of tenants, including businesses in need of office, manufacturing, storage, and/or industrial space, among others. The site was previously known as the Federal Shipbuilding & Drydock Company and served as the U.S. Navy’s fastest ship-building location in the world during World War II.

New Rendering Revealed of Two-Building Office Complex Planned at 270 Richards Street, Red Hook

7:00 am on August 11, 2016 By Reid Wilson

An overhead rendering has been revealed of the planned two-building, four-story (plus penthouse) office complex, dubbed Red Hoek Point and located at 270 Richards Street, the former site of the Revere Sugar Refinery in Red Hook. The rendering, published by Curbed NY, shows off the project’s outdoor spaces, which will include a central plaza, waterfront esplanade, and landscaped rooftop terraces. YIMBY reported on the project’s new building applications in June. The filings described an office complex encompassing 1,135,610 square feet, of which 645,103 square feet will be commercial space for offices and retail. Thor Equities, the developer, is planning a 1,112-car parking garage in the cellar, although a variance must first be obtained to build it. Ground-floor retail and restaurant space will measure 23,000 square feet. Sir Norman Foster’s London-based Foster + Partners is the design architect, while Adamson Associates Architects is serving as the executive architect. Groundbreaking is expected this fall.

Partial Medical Office Conversion Planned at Two-Story, 57,000-Square-Foot Property, 99-01 Queens Boulevard, Rego Park

6:00 am on August 11, 2016 By Reid Wilson

The Blumenfeld Development Group has purchased, for $31.2 million, the two-story, 56,916-square-foot mixed-use commercial building at 99-01 Queens Boulevard, in Rego Park, from Vornado Realty. The new owner plans to convert the property’s vacant portions into a medical facility for Mount Sinai Hospital, according to Real Estate Weekly. The hospital has already signed a lease with Blumenfeld. The property currently features retail space on the ground and cellar levels, followed by commercial-office space on the second floor. Existing tenants, which will remain in the building, include Bank of America, New York Sports Club, and DeVry College of New York. Completion of the conversion is expected in early 2017.

SS United States on her sea trials, June 10, 1952. Photo courtesy of Charles Anderson and the SS United States Conservancy

SS United States Won’t Be Converted Into A 400-Suite Luxury Cruse Ship

6:30 am on August 9, 2016 By Reid Wilson

Earlier this year, Crystal Cruises proposed to transform the re-commission 12-deck passenger liner SS United States as a 400-suite luxury cruise ship. Sadly, the ship’s conversion is now being abandoned followed a feasibility study that indicated the project would be too challenging, the New York Times reported. After an inspection of the ship, it was found that roughly 25 percent of the hull would have to be replaced, in addition to new mechanical equipment and engine infrastructure. Also, since Crystal Cruises is owned by a foreign entity, the Jones Act would have made it challenging for the liner to operate as a United States-flagged ship. That means much tougher travel regulations, which is a significant disadvantage in the industry.

Development Team Acquires 11-Story Watchtower Complex at 25-30 Columbia in Brooklyn Heights, Plans Creative Office Conversion

6:00 am on August 5, 2016 By Reid Wilson

Over the spring, a team of developers entered into contract to acquire, from the Jehovah’s Witnesses, the 11-story, 739,000-square-foot commercial complex known as the Watchtower, at 25-30 Columbia Heights, in Brooklyn Heights. The team – now a joint venture between the Kushner Companies, CIM Group, and LIVWRK – have closed on the purchase for roughly $340 million, Commercial Observer reported. The new owners plan to convert the complex into creative office space, likely similar to how some of the same developers transformed the five-building complex now dubbed DUMBO Heights. The redevelopment is expected to begin within a year. In addition to the acquisition of 25-30 Columbia Heights, the same partnership is remains in contract to buy the vacant, block-encompassing development site at 85 Jay Street, in DUMBO.

New Owners Plan Office, Retail Conversion at Six-Story, 115,000-Square-Foot Building, 17 Laight Street, TriBeCa

6:30 am on August 4, 2016 By Reid Wilson

Vanbarton Group is in contract to acquire the six-story, 115,000-square-foot mixed-use building, formerly home to the Tribeca Film Festival, at 13-17 Laight Street, in TriBeCa, for $90 million. The group plans to convert the building into a retail, office, and “lifestyle facility” space, the New York Post reported. Vanbarton is in the process of buying out all of the property’s existing commercial and residential tenants. The 13,867-square-foot lot also comes with 10,530 square feet of air rights, although it’s not known if an expansion is planned.

New Owners Plan Partial Office Conversion at Six-Story, 225,000-Square-Foot Industrial Property, 43-01 22nd Street, Long Island City

4:00 pm on August 3, 2016 By Reid Wilson

Back in May, Olmstead Properties and Newmark Holdings entered into contract to purchase the six-story, 225,000-square-foot manufacturing building at 43-01 22nd Street, located on the corners of 43rd and 44th avenues in the heart of Long Island City. The duo have now closed on the purchase for $61 million, Commercial Observer reported. They plan to convert the structure into office space, although roughly two-thirds of the property is currently leased to Reis Studios. The vacant portions are expected to be converted soon, but it’s not known when the currently leased space will get the conversion. Upgrades to the building will include a redesigned lobby, new windows and façade elements, and new mechanical infrastructure such as elevators.

Two-Story, 5,000-Square-Foot Office-Warehouse Coming to 147 11th Street, Gowanus

3:00 pm on August 2, 2016 By Reid Wilson

Brooklyn-based McMahon Construction has filed applications for a two-story, 5,000-square-foot commercial building at 147 11th Street, in southern Gowanus. The ground floor will host a warehouse, followed by office space on the second floor and an upper penthouse level. Scott Schnall’s Brooklyn-based consulting firm is the applicant of record. The 25-foot-wide, 2,500-square-foot property is currently occupied by a two-story, single-family house. Demolition permits were filed in December. The site is located three blocks from the Fourth Avenue/Ninth Street stop on the F, G, and R trains.

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