Office

106 West 56th Street

Reveal For 26-story, 90,000-Square-Foot Office Building At 106 West 56th Street, Midtown

Earlier this week, news broke that Savanna and Hong Kong-based Atom Assets were planning a 26-story, 90,000 square-foot office building at 106 West 56th Street, in Midtown, and now Real Estate Weekly has a rendering of the project. As reported earlier, the new building will feature boutique office space geared towards smaller business tenants. The Perkins Eastman-designed project will feature multiple terraced setbacks and floor plates of varying sizes, ranging from 5,000 square feet on the lower levels to 2,000 square feet towards the top. The developers received an acquisition loan from United Overseas Bank to purchase the existing nine-story office building. Demolition will begin in early 2017 and completion is expected in 2019.

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45-08 Junction Boulevard

Four-Story, Four-Unit Mixed-Use Project Planned At 45-08 Junction Boulevard, Corona

Guo H Hu, doing business as an anonymous Queens-based LLC, has filed applications for a four-story, four-unit mixed-use building at 45-08 Junction Boulevard, in Corona, located six blocks south of the Junction Boulevard stop on the 7 train. The new structure will measure just 3,987 square feet in total and will include a small 449 square-foot doctor’s office on the ground floor. The residential units, three of which will have full-floor layouts, will average 750 square feet apiece. Flushing-based An Shen Ma is the architect of record. The site’s existing two-and-a-half-story wood-framed building must first be demolished.

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787 Eleventh Avenue

Two-Story Expansion Filed For 464,000 Square-Foot Commercial Building At 787 Eleventh Avenue, Hell’s Kitchen

Last July, Georgetown Company and Bill Ackman closed on the eight-story, 464,000 square-foot commercial building at 787 Eleventh Avenue, between West 54th and 55th streets in Hell’s Kitchen, for roughly $250 million. Now the property’s new owners have filed applications to expand the building by two stories or an additional 19,784 square feet. The roof will be raised by 60 feet (to 160 feet) and the latest filings indicate there will be 400,144 square feet of designated commercial space. The ground floor will contain retail space and automobile dealerships, floors two through five will contain automobile shops and services, and floors six through 10 will be office space. Per Curbed, Ackman’s Pershing Square Capital Management will be occupying the office space. Rafael Viñoly Architects is designing the project.

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590 Atlantic Avenue

1.5-Million Square-Foot Office Building Could Be Built At 590 Atlantic Avenue, Downtown Brooklyn

In September of 2015, the Empire State Development Corp. began the eminent domain process to acquire 590 Atlantic Avenue, located across from Atlantic Terminal and Barclays Center in Downtown Brooklyn, as part of the Pacific Park mega-development. A partnership between Forest City Ratner and Greenland Holdings would develop the property, currently home to two low-rise retail buildings. Right now, the site boasts 440,000 square feet of development rights, but the developers are proposing the idea to transfer 1.1 million square feet of air rights in order to build a 1.5-million-square-foot office building. According to Crain’s, the air rights transfer would have to be approved by a state review process via the Empire State Development Corp. The air rights transfer would preserve public plaza space.

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106 West 56th Street

26-Story, 90,000 Square-Foot Office Building Planned At 106 West 56th Street, Midtown

Savanna and Hong Kong-based Atom Assets have acquired the nine-story, 36,000 square-foot building at 106 West 56th Street, in Midtown between Sixth and Seventh avenues, for an undisclosed amount. Crain’s reports the developers are planning to build a 26-story, 90,000 square-foot boutique office building. Zoning allows for the project to have up to 75,315 square feet of commercial space, and the building’s office floors will range from 5,000 to 2,000 square feet each. Perkins Eastman will be responsible for the design. The property’s current tenant has a year to vacate from the site, although demolition permits were already filed this past January to raze the building. Completion is tentatively expected in 2019.

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