In 2014, investors Issac Chetrit and Charles Aini acquired, for $268 million, the 24-story, 415,000-square-foot multi-use commercial building at 1412 Broadway and the three-story, 7,000-square-foot retail property at 1420 Broadway. The buildings are located at the corner of West 39th Street. Now, the property owners have disclosed plans to redevelop the three-story retail building into a roughly 15-story, 80-key hotel, The Real Deal reported. The 2,286-square-foot property can accommodate up to 34,290 square feet of commercial development. The existing property is triple-net leased through 2020, which means construction won’t begin until the lease expires and the tenants vacate the premises. The eventual hotel building will connect to the retail component of 1420 Broadway through the ground floor. Plans have not yet been filed with the Buildings Department.
Orrie Shoshani, doing business as an anonymous Bronx-based LLC, has filed applications for a five-story, eight-unit mixed-use building at 582 East 138th Street, in Mott Haven, located two blocks from the Brook Avenue stop on the 6 train. The structure will encompass 10,322 square feet and will feature 2,500 square feet of retail space on the ground floor. Residential units will begin on the second floor and should average 625 square feet apiece, indicative of rental apartments. Oscar M. Fuertes’ Bayside-based OMF Architecture is the architect of record. The 25-foot-wide, 2,500-square-foot lot is currently vacant.
Big changes are coming to the Meatpacking District. On Tuesday, the Landmarks Preservation Commission, after three sessions, approved redevelopment of the block ranging from 46 to 74 Gansevoort Street. That’s between Greenwich Street and Washington Street, in the Gansevoort Market Historic District.
A block a little north of Madison Square Park is on its way to a major transformation, thanks to action by the Landmarks Preservation Commission on Tuesday. The block in question is between Fifth Avenue and Broadway, on West 29th Street and part of West 30th Street.
Back in April, new details were revealed of the 25-story, 714-unit mixed-use building under development at 300 Livingston Street, in Downtown Brooklyn. Now, the project has risen above street level, as seen in photos by Tectonic, which were taken a back in May. As previously reported, the building will eventually encompass 734,312 square feet. It will feature 55,000 square feet of retail on the ground and cellar levels, followed by residential space beginning on the second floor. The apartments should average 790 square feet apiece, indicative of rental apartments, and 143 of them (20 percent) will rent at below-market rates through the housing lottery. Amenities include a 128-car underground parking garage, laundry facilities, a yoga room, storage for 357 bikes, a pet grooming room, an outdoor terrace on the second floor (likely a courtyard), and a children’s playroom. TF Cornerstone is the developer, while Handel Architects is behind the design. Completion is expected in 2017.