Office

10-Story Office Building Across From Nordstrom Tower Acquired for $213.8 Million

6:30 am on May 19, 2015 By Reid Wilson

Eretz Group has acquired the 10-story, 170,000 square-foot office and retail building at 224 West 57th Street — across from Extell’s planned Nordstrom Tower, in Midtown — for $213.8 million. The building is landmarked, and after being acquired for $85 million in 2010, it underwent a $50 million renovation designed by Tirmizi Campbell. Per The Real Deal, the non-profit Open Society Foundations currently leases a majority of the building.

Commercial Conversion of Industrial Properties Planned at 333 Johnson Avenue, East Williamsburg

12:30 pm on May 12, 2015 By Reid Wilson

Normandy Real Estate Partners and Princeton Holdings LLC have acquired the 160,000 square-foot low-rise industrial property at 333 Johnson Avenue in East Williamsburg for $26.75 million. The complex will be converted into a mixed-use commercial complex, featuring offices and retail. DNAinfo also reports the inclusion of a 40,000 square feet of outdoor space, and completion is expected in early 2016.

Long Island City Clock Tower Designated Individual Landmark

11:00 am on May 12, 2015 By Evan Bindelglass

On Tuesday. the Landmarks Preservation Commission voted to designate the former Bank of Manhattan Company Building at 29-27 Queens Plaza North, in Long Island City, as an individual landmark, preserving it for generations to come. The developer of what is expected to be the borough’s tallest building (and the new tallest building outside Manhattan), which will be next door, already plans to work with the landmark structure.

New Look at Related’s West Side Yards, at Hudson Yards

8:00 am on May 12, 2015 By Nikolai Fedak

The Hudson Yards project has taken decades to get off the ground, but construction is well underway on the site’s first few buildings, with the superstructure for 10 Hudson Yards already making an impact on the skyline. While the Eastern railyards will be impressive in their own right, the Western railyards are a bit further down the development pipeline, but Related has created a new set of conceptual towers that illustrate their potential, posted in an update to the Hudson Yards website.

29-Story Office Building 7 Bryant Park Wraps Up Construction, Midtown

11:00 am on May 8, 2015 By Reid Wilson

The 29-story, 470,500 square-foot office building dubbed 7 Bryant Park at 1045 6th Avenue, in Midtown, is wrapping up construction, per The Wall Street Journal. Exterior cladding is complete, and interior modeling is underway to accommodate the building’s owner, The Bank of China Ltd., which paid nearly $600 million for the Pei Cobb Freed & Partners-designed building in 2014. Construction began in 2013, and Hines and Pacolet Milliken Enterprises served as the tower’s developers.

Major Office Building Begins Construction at 67 Whippany Road, Hanover, New Jersey

6:00 am on May 7, 2015 By Reid Wilson

Excavation is imminent at 67 Whippany Road — in Hanover, NJ, west of Newark — for the construction of a five-story, 185,000 square-foot office building that will house the headquarters of MetLife Investments, reports Real Estate Weekly. Rubenstein Partners and Vision Real Estate Partners are developing, and they are also planning additional mixed-use buildings to built-out the 94-acre campus.

Foot Locker, WeWork Lease Space at 8 Times Square, in Midtown

11:00 am on May 6, 2015 By Reid Wilson

Foot Locker has leased 36,000 square feet of retail space at 1460 Broadway — dubbed 8 Times Square — a 16-story commercial building in Midtown, reports the New York Post. The building is currently being renovated and repositioned in phases by Himmel+Meringoff and The Swig Company, and MdeAS Architects is designing. WeWork is leasing 180,000 square feet of office space above, and renovations are expected to be finished in 2016.

28 Liberty Street, proposed southeast corner. Credit: SOM

Landmarks Wants Re-Think of Re-Development At 28 Liberty Street

8:00 am on May 6, 2015 By Evan Bindelglass

In 2013, Fosun International Ltd. bought One Chase Manhattan Plaza. They have re-branded it as 28 Liberty Street and now they want to re-develop the landmark. The proposal includes ground floor retail and major changes to the plaza, and was presented to the Landmarks Preservation Commission on Tuesday, but the commissioners had issues. So, the team will have to re-work their plan before they get the go-ahead.

SL Green’s One Vanderbilt Moves Another Step Closer to Reality

6:00 am on May 6, 2015 By Reid Wilson

The City Council has voted to approve the re-zoning of a five-block stretch of Vanderbilt Avenue in Midtown East, per Capital New York. SL Green’s proposed 67-story, 1,501-foot-tall One Vanderbilt is the first building to maneuver the rezoning, and a full-council vote could come as early as the end of May. SL Green is funding $220 million in transportation improvements for Grand Central, and completion is expected in 2020.

Landmarks Approves Restoration and Conversion of 190 Bowery With Graffiti

4:30 pm on May 5, 2015 By Evan Bindelglass

190 Bowery is on its way to a rebirth. The building that sits at the corner of Bowery and Spring Street will once again become an office building with ground floor retail, but will keep the graffiti that has accumulated over the years, thanks to approval from the Landmarks Preservation Commission.

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