Earlier this week, YIMBY reported on applications to expand, by five stories, the 20-story, 115,000-square-foot multi-use commercial building at 685 Fifth Avenue, located on the corner of East 54th Street in Midtown. It was previously reported that Michael Shvo was in contract to acquire, from property owners General Growth Properties and Thor Equities, 90,000 square feet of office space (the entire office portion). That deal has since fallen through, and now, Gulaylar Group is in contract for the office space, according to The Real Deal. As part of the deal, the new owner will also develop the five-story office expansion. The sale is expected to close later this year. The lower portion of the building is currently undergoing a retail redevelopment. Its 23,400 square feet was leased to Coach in February and will become the retailer’s flagship store.
AvalonBay Communities and the New York City Department of Education’s Educational Construction Fund (ECF) are partnering to develop a roughly 1,100-unit mixed-use complex at 321 East 96th Street, on the Upper East Side. The complex will include rental apartments, two public schools with recreational spaces, and 20,000 square feet of retail space, according to The Real Deal. The development would take up the entire block, which is bound by East 96th and 97th streets and First and Second avenues.
In January, the 32-story BAM South tower at 300 Ashland Place (then known as 286 Ashland Place), in Fort Greene, Brooklyn, topped out. Since then, nearly all of the façade pieces have been installed, as seen in photos by our friend Tectonic.
Since 2014, the property owners Two Bridges Neighborhood Council and Settlement Housing Fund have been in talks with an unknown developer over the 11,800-square-foot development site at 235-247 Cherry Street, on the southern edge of the Lower East Side. Now, it has been revealed that JDS Development Group is planning to build a 77-story, roughly 600-unit mixed-use building, The Lo-Down reports. The rental apartments should come in studio, one-, and two-bedroom configurations, with roughly 150 of the units permanently renting at below-market rates. There would also be 10,000 square feet of retail and a 4,600-square-foot senior community center in the tower. SHoP Architects will design the 900-foot-tall tower, which will be clad in terra-cotta and glass.
In June of 2015, YIMBY reported on the Request for Proposals (RFP) launched by the city’s Department of Housing Preservation and Development (HPD) for the development site at 425 Grand Concourse, in Mott Haven. Now, Mayor Bill de Blasio’s administration has selected a development team for the 30,000-square-foot site, located on the corner of East 144th Street, Politico New York reports. Trinity Financial and MBD Community Housing Corporation will build a 24-story, 241-unit mixed-use building. The 300,000-square-foot tower will contain only below-market rate rental apartments, in addition to a charter school, a medical facility, community space for cultural and social programs, and a supermarket. It will also be the largest Passive House project in the city. Garrison Playground, located immediately to the north, will be rehabilitated. The city is expected to finance the project, which must first journey through the city’s Urban Land Use Review Procedure (ULURP) process. ULURP is scheduled to begin in early 2017.