As 2016 will prove to be a pivotal year for the Manhattan skyline, a neighbor across the Hudson River is also seeing amazing growth. Just last month, ground was broken for the LeFrak Organization’s 444-foot-tall, 43-story, 376-unit tower in the Newport section of Jersey City. Now, we have word of an important step in the process constructing a much taller tower to the south near Exchange Place.
Sequoia Development Group is currently converting the four-story, 55,000 square-foot former paper mill at 456 Johnson Avenue, in East Williamsburg, into a mixed-use commercial property. According to The Real Deal, the upper three floors will have a total of 35 office units, each measuring between 900 and 2,200 square feet apiece. Retail space is planned on the ground floor and the building is being dubbed Paper Mill. The developer is leasing the property from its owner, Maki Realty Corp. Red Hook-based ND Architecture & Design is designing the conversion.
YIMBY detailed in November of 2014 the initial Landmarks Preservation Commission (LPC) hearing on the residential conversion of the former New York Life Insurance Company building at 346 Broadway (a.k.a. 108 Leonard Street), in Tribeca. The 13-story, 427,000 square-foot building is an individual and interior landmark, and is listed on the U.S. National Register of Historic Places. A month after the hearing, the LPC approved the changes that would including making the structure’s clock tower part of a penthouse and for the clock to run electronically, the WSJ reported. Last week, according to Commercial Observer, the Peebles Organization and Elad Group landed a $334 million construction loan for the project, which would convert the former office building into 151 condominium units. Additionally, a community facility and retail space will measure 7,210 and 2,200 square feet, respectively. Beyer Blinder Belle is designing the conversion.
In May of 2014, YIMBY reported on plans for a 12-story, 18-unit mixed-use building at 543 Second Avenue, in Kips Bay, and now Bluarch Architecture has revealed updated renderings of the project. The rental building will measure 18,877 square feet in its entirety, and will have 13,877 square feet of residential space and a 702 square-foot ground-floor retail component, according to the latest filings. Residential units would begin on the second floor and average 771 square feet apiece. Shalimar Management is developing the building, which it expects to break ground on later this year, and 5D Architecture & Engineering is serving as the architect of record.
Over the summer was when YIMBY last checked in on the two-building, 700-unit development under construction at 363-365 Bond Street, in Gowanus. At the time, the Lightstone Group’s building at 365 Bond was structurally complete and getting its curtain wall, and foundation work was ongoing at 363 Bond. Today, 365 Bond is wrapping up construction and its leg of the public esplanade along the Gowanus Canal is receiving its finishing touches, Pardon Me For Asking reports. Meanwhile, since Atlantic Realty Development acquired the 363 Bond site, the building has risen four stories. 365 Bond is expected to be completed within the next few months, and 363 Bond will probably wrap up construction in 2017. Both buildings will include small retail and community facility components.