BLDG Management has acquired the three properties spanning 211-215 East 38th Street, in Midtown East, for $36.7 million, which reportedly completes a development assemblage that also includes the two buildings at 203-209 East 38th Street. The developer plans to demolish the entire assemblage to make way for a new residential tower with ground-floor retail space, according to The Real Deal. The site measures 17,944 square feet, which means it can accommodate up to 179,440 square feet of development potential. Other details, including the architect have not been disclosed. What must first be demolished is a two-story brick structure, three four- to five-story tenement buildings, and a five-story parking garage.
When YIMBY last reported on the 23-story, 120-unit mixed-use rental project at 56 Fulton Street, between Cliff and Gold streets in the Financial District, $61.75 million in financing had just been landed. That was back in December of 2014. Today, we can report actual construction progress. A photo sent to us by a reader shows the work being done, and that work has reached the second floor.
YIMBY last checked in on the 65-story, 268-unit residential tower being built at 252 East 57th Street, in Midtown East, back in October of 2015, when the structure topped out at 715 feet above street level. Since then, glass installation has been rapidly underway to encapsulate the residential interiors, which will eventually contain a total of 93 condominiums and 175 rental apartments. YIMBY now has close-up renderings of the 632,828-square-foot tower.
Back in November, YIMBY brought you a construction update on the 42-story, 362-unit mixed-use building underway at 1 West End Avenue, in the Lincoln Square section of the Upper West Side. At the time, the structure was at least 25 floors above street level, but now the building has topped out, as seen in photos by Tectonic (h/t Curbed). The new building encompasses 932,780 square feet and will contain retail space, in addition to 116 below-market rate rental units, within its six-story base. The tower portion will feature 246 condominium units. Glass installation is currently underway and the stone cladding of the podium appears largely complete. Silverstein Properties and Elad Group are the developers. Pelli Clarke Pelli is the design architect and Goldstein, Hill & West Architects is the architect of record. Completion is expected in 2017.
Staten Island-based property owner Joseph Palermo has filed applications for two three-story, two-family residential buildings at 47-53 Atlantic Avenue, in Dongan Hills, located seven blocks from the neighborhood’s Staten Island Railway station. Each of them will measure 4,000 square feet. In each, there will be one apartment unit on the ground floor and a second unit spanning across the second and third floors. The smaller units should average roughy 1,000 square feet and the larger apartments should measure roughly 2,000 square feet. Emanuel Lo Bue’s Staten Island-based Lo Bue & Valenziano is the applicant of record. The 100-foot-wide plot of land is currently occupied by a two-story house, which for which demolition permits were filed back in November.