Retail

Office-to-Luxury Hotel-Residential Conversion Planned at Crown Building in Midtown

10:00 am on June 2, 2016 By Reid Wilson

In early 2015, Wharton Properties and General Growth Properties (GGP) acquired, for $1.75 billion, the Crown Building – a 25-story, 385,600-square-foot multi-use commercial building – at 730 Fifth Avenue, located on the corner of West 57th Street in Midtown. Now, it’s been disclosed that developer Michael Shvo and Russian investor Vladislav Doronin are planning to acquire a large portion of the building for a mixed-use conversion project, the New York Post reported. The duo want to convert the upper floors of the current office building into an Aman hotel and 23 ultra-luxury condominium units. Wharton and GGP recently bought out the last remaining office tenant. The current owners plan to lease the remainder of the property that isn’t sold to Doronin and Shvo as retail. The retail space is currently being newly renovated and is expected to take up at least the first four above grade levels. Late last year, it was reported that Bulgari signed a 15-year lease on the ground floor.

Port Authority Reveals a Rendering, But Not a Developer, for Apartments Next to Lincoln Tunnel

8:00 am on June 2, 2016 By Rebecca Baird-Remba

The Port Authority has been struggling for years to develop two awkward lots next to the Lincoln Tunnel approach on the far West Side. The agency filed plans for a nine-story building at 431 West 33rd Street last fall, and now they’ve posted a rendering on the fence at the site between Ninth and 10th avenues.

Façade Work Wrapping Up at 261 Hudson Street, Hudson Square

7:30 am on June 2, 2016 By Evan Bindelglass

It’s been nearly a year since we checked in on Related’s rental development at 261 Hudson Street, and a lot has happened since then. Thanks to photos from our friend Tectonic, we can see that façade work on the 12-story project is nearly complete.

20-Story, 74-Unit Mixed-Use Project at 591 Third Avenue in Murray Hill Could Be Condos

3:00 pm on June 1, 2016 By Reid Wilson

Back in March of 2015, CB Developers, SK Development, and Ironstate Development acquired, for $25.2 million, the three five-story tenement buildings at 587-591 Third Avenue, located between East 38th and 39th streets in Murray Hill. Around that time, the developers filed applications for a 20-story, 74-unit mixed-use building at the site. Now, the team has submitted preliminary applications (called CPS-1 documents, which are associated with marketing) with the state Attorney General’s office for a condominium project, according to The Real Deal. Filings with the Buildings Department describe a 96,166-square-foot building in the works. It will have 4,231 square feet of retail space on the ground and cellar levels, and its residential units should average 972 square feet apiece. Edgar L. Rawlings’ Lower East Side-based Rawlings Architects is the architect of record. Demolition permits were filed for the existing tenements back in 2014.

11-Story, 44-Unit Mixed-Use Condo Project Rises to Fifth Floor at 613 Baltic Street, Park Slope

2:00 pm on June 1, 2016 By Reid Wilson

Back in December of 2015, updated renderings were revealed of the 11-story, 44-unit mixed-use building under development at 613 Baltic Street, in northern Park Slope, located six blocks south of the Atlantic Avenue-Barclays Center stop on the D/N/R trains. Now, construction is underway on the fifth floor of the structure, as seen in a photo by our friend Tectonic. The structure, dubbed the Baltic, will encompass 83,154 square feet, and will include 3,157 and 2,163 square feet of retail and community facility space, respectively, on the ground floor. The residential units will be condominiums, averaging 1,339 square feet apiece, and two- and three-bedroom apartments are currently on the market. Amenities include a fitness center, landscaped gardens and terraces, a roof deck featuring lounges, grills, and dining areas, a movie theater, storage for 22 bikes, and a 10-car garage in the cellar. JDS Development Group is the developer and VOA Architecture is behind the design. Completion is expected in 2017.

28-Story Hotel-Residential-Retail Project Rises to 14th Floor at 577 Ninth Avenue, Hell’s Kitchen

11:00 am on June 1, 2016 By Reid Wilson

Back in June of 2014, YIMBY revealed renderings of the planned 28-story mixed-use building at 577 Ninth Avenue (a.k.a. 400 West 42nd Street), located between West 41st and 42nd streets, on the southern end of Hell’s Kitchen. Construction has since kicked off at the site and the building is now 14 stories above street level, as seen in a photos posted to the YIMBY Forums. New details on the project have also been disclosed by The Real Deal. Once complete, the 218,872-square-foot building, dubbed Pod Times Square, will feature a 665-key hotel, 48 residential units, and 25,000 square feet of retail space across the cellar through second floors. The building will be operated by BD Hotels under the Pod Hotels brand. The apartments will be rented fully furnished by the hotel as Pod Pads. The one- and two-bedroom apartments will be located on the 23rd through 27th floors and will measure between 400 and 800 square feet apiece. Guest amenities include storage for 52 bikes, a lounge, private storage rooms, a fitness center, laundry facilities, and an indoor/outdoor recreational area on the 28th floor. Friedman Group and Landis Group are the developers, while SLCE Architects is the architect of record. Completion is expected in 2017.

Two Six-Story, Nine-Unit Mixed-Use Buildings Filed at 30-85 31st Street, Astoria

10:00 am on June 1, 2016 By Reid Wilson

The Vass Stevens Group has filed applications for two six-story, nine-unit mixed-use buildings at 30-85 – 30-87 31st Street, in central Astoria, located two blocks from the Broadway stop on the N/Q trains. Each will measure 10,249 square feet and will contain 765- and 833-square-foot retail and medical office components, respectively, on the ground and cellar levels. The residential units, located across the second through sixth floors, should average 707 square feet apiece, indicative of rental apartments. The structures will be topped by an outdoor terrace on the roof. Queens-based Gerald J. Caliendo is the architect of record. The 50-foot-wide lot is currently occupied by a two-and-a-half-story, wood-framed house. Demolition permits were filed in December.

Mixed-Use Conversion Planned for Six-Story Building at 124 West Houston Street, Greenwich Village

3:00 pm on May 31, 2016 By Reid Wilson

An anonymous New York investor has acquired, for $15.4 million, the six-story, 13,150-square-foot former residence and studio of artists Madeline Arakawa Gins and Shusaku Arakawa at 124 West Houston Street, in Greenwich Village. The new owner plans to convert the building’s ground and cellar levels into retail space and turn floors two though six into residential units, according to Commercial Observer. The building is vacant, except for a rent-controlled apartment on the fifth floor. It’s not clear if the apartments will be rentals or condos, but the future residential floors contain 14-foot ceilings and large floor plates. The property is located within the South Village Historic District, which means the Landmarks Preservation Commission would have to approve any exterior alterations.

Jamestown Converting Basement of Chelsea Market Into Retail Corridor, Chelsea

2:00 pm on May 31, 2016 By Reid Wilson

Jamestown is planning to convert the basement level of Chelsea Market – a 1.2-million-square-foot, multi-use commercial complex located on the block bound by Ninth and Tenth avenues and West 15^th and 16^th streets, at 75 Ninth Avenue in southern Chelsea – into retail space. The conversion of the basement would double the retail space of the property to 80,000 square feet, according to Crain’s. The basement would be made into a single corridor similar to how the ground floor is currently configured with retailers. The project is expected to take five years. After the retail expansion, and pending an anchor tenant, the owners plan to vertically expand the complex’s office space by roughly 300,000 square feet. The office plans passed the city’s Uniform Land Use Review Procedure (ULURP) in 2012.

685 Fourth Avenue, image via Google Maps

Permits Filed: 685 Fourth Avenue, Greenwood Heights

7:00 am on May 31, 2016 By Rebecca Baird-Remba

Fourth Avenue’s development boom is moving south from Park Slope into Greenwood Heights. Developer Steve Cheung filed plans on Friday to erect a 12-story, mixed-use building at 685 Fourth Avenue, on the corner of 22nd Street. The 120-foot-tall project will bring 81 apartments and 6,400 square feet of retail space to a parking lot a couple blocks south of the Prospect Expressway.

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