Commercial

515 West 52nd Street

Two Performance Theaters Being Built On Ground Floor Of 515 West 52nd Street, Hell’s Kitchen

6:30 am on March 23, 2016 By Reid Wilson

MCC Theater has broken ground on a long-planned venue inside the 27-story, 627-unit Avalon Clinton at 515 West 52nd Street, in Hell’s Kitchen. Crain’s reports the performance facility will measure 27,000 square feet across the ground floor and a mezzanine level. The space inside the building was initially intended for a nonprofit’s use when it was built in 2004, but has remained vacant since then. In 2011, plans to build a performance facility kicked off, and the theater organization along with the city’s Department of Cultural Affairs raised $29.9 million for the project. When construction wraps up in 2018, there will be 249-seat theater and a 99-seat theater. Andrew Berman Architect is designing the theaters, which will include associated workshop, meeting, and rehearsal spaces, as well as a grand lobby and connections to the existing outdoor courtyard space. AvalonBay currently owns the property.

Triangle Park

Deal Reached For Triangle Park Multi-Building Mixed-Use Development, Newark

11:00 am on March 22, 2016 By Reid Wilson

Early last year, the Newark City Council approved plans to build a 2.5-acre park in the city’s downtown. It would connect Prudential Center to the Ironbound’s Peter Francisco Park by bridging over Newark Penn Station, but it would also serve as the centerpiece of a multi-building mixed-use development of the surrounding vacant blocks. Last week, the city of Newark struck a deal with Edison Properties and J&L Parking Corporation to development the buildings, Newark Patch reports. Details on the new buildings are sparse, but there will be a significant number of residential units, retail space, and possible office space. Construction is expected to commence later this year and completion is tentatively set for July of 2018. The Newark Community Economic Development Corporation will head the construction of the park, being designed by MKW + Associates.

815 Broadway

Five-Story, 57,800-Square-Foot Office Conversion Planned At 815 Broadway, Bushwick

10:00 am on March 21, 2016 By Reid Wilson

Property owner Transition Acquisitions is planning to convert the five-story, 57,800-square-foot former Globe Exchange Bank building, located at 815 Broadway in far-western Bushwick, into office space, Commercial Observer reports. The property is currently vacant and boasts 41,673 square feet of commercial space. According to the Schedule A, 15,600 square feet of retail space will span the ground floor, medical offices will be located in the cellar level, and the rest of the building will full-floor contain office spaces. Boaz Golani’s Bronx-based BMG Design Build is the architect of record. The current owner acquired the building in July of 2015 for $15.1 million and the conversion is expected to be complete in the spring of 2017.

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