Commercial


541 West 21st Street

Eight-Story Commercial Building At 541 West 21st Street Hits the Market

The eight-story, 65,000 square-foot warehouse at 541 West 21st Street, in West Chelsea, has been placed on the market as a redevelopment site. The property could be worth more than $65 million, according to Crain’s Business. The commercial property is primed for a hotel or office conversion. Property owner Erno Bodek has tasked Meridian Investment Sales and Rosewood Realty Group with marketing the property.

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Staten Island Mall

418,000 Square-Foot Staten Island Mall Expansion Approved

Last Summer, YIMBY brought you news of General Growth Properties’ plans to expand the 1.2 million square-foot Staten Island Mall, at 2655 Richmond Avenue, by 418,000 square feet. Perkins Eastman is designing, and the first renderings of the expansion were released in February. Now, per Commercial Observer, the City Planning Commission has approved the project, and updated renderings are available. Construction will begin once the DOB green-lights the building permits, and completion is expected in 2017.

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2440 Fulton Street

Developer Acquires 2440 Fulton Street, Site With Commercial Potential, Ocean Hill

Abe Leser’s Mapleton Group has acquired the two-story, 115,000 square-foot commercial building at 2440 Fulton Street, in Ocean Hill — within walking distance of Broadway Junction and LIRR’s East New York station — for $33 million. The property has 40,000 square feet of available air rights, but could accommodate a new commercial building of 155,000 square feet if demolished. Plans for the site have not yet been disclosed, according to The Real Deal.

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