Retail

Developer Acquires Site of Planned 42-Story, 800-Unit Mixed-Use Tower at 500 Summit Avenue, Jersey City

6:00 am on June 10, 2016 By Reid Wilson

Back in August and December of 2014, YIMBY revealed two different conceptual designs for a planned mixed-use development at 500 Summit Avenue, in the Journal Square section of Jersey City. HAP Investments has recently closed on the acquisition of the site for $26.6 million, despite false reports that the developer purchased the property in 2014, Commercial Observer reported. It was also revealed that CetraRuddy will be responsible for the design, the same firm that produced the conceptual renderings YIMBY released in 2014. Planned is a 42-story, 800-unit tower with 30,000 square feet of retail space. The entire building will encompass 916,955 square feet, and the residential units, which will be rentals, should average 981 square feet apiece. There will be a 100-car parking garage. The 80,000-square-foot site consists of a parking lot and two dilapidated, two-story residential buildings.

Landmarked 12-Story Jarmulowsky Bank Building Now Getting Office-Retail Conversion, 54 Canal Street, Chinatown

10:00 am on June 9, 2016 By Reid Wilson

Back in December of 2012, the Landmarks Preservation Commission (LPC) approved alterations that would go into converting the 12-story, 60,000-square-foot Jarmulowsky Bank Building, an individual landmark at 54 Canal Street (a.k.a. 9 Orchard Street) in Chinatown, into a boutique hotel. Then in 2014, DLJ Real Estate Partners received approval from the LPC to reconstruct the building’s corner cupola, which was removed in 1990. Construction has since been underway on the existing building, as well as a six-story, 9,876-square-foot annex expansion at 60 Canal Street. Now, the owners are abandoning plans for a hotel and have decided to convert the interiors into office and retail space, Bowery Boogie reported. The first two floors will also host retail whiles the upper floors will be leased to office tenants. Lower East Side-based Studio Castellano Architects is the architect of record. It’s not known when the building is scheduled to open.

15-Story, 80-Key Hotel Redevelopment Planned at 1420 Broadway, Midtown

6:00 am on June 9, 2016 By Reid Wilson

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.

Five-Story, Eight-Unit Mixed-Use Building Filed at 582 East 138th Street, Mott Haven

4:00 pm on June 8, 2016 By Reid Wilson

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.

Landmarks Approves Redevelopment of Gansevoort Market Block

8:00 am on June 8, 2016 By Evan Bindelglass

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.

Rendering showing the HFZ Capital's Moshe Safdie-designed mixed-use tower with the Empire State Building behind it. (Rendering presented in October)

Gilsey House Restoration Paves Way for HFZ’s 64-Story Moshe Safdie Tower at 8 West 30th Street

7:00 am on June 8, 2016 By Evan Bindelglass

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 29^th Street and part of West 30^th Street.

25-Story, 714-Unit Mixed-Use Project Rises Above Street Level at 300 Livingston Street, Downtown Brooklyn

11:00 am on June 7, 2016 By Reid Wilson

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.

Steel Rises for 11-Story, 94-Unit Mixed-Use Condo Building at 196 Orchard Street, Lower East Side

10:00 am on June 7, 2016 By Reid Wilson

Back in December of 2015, updated renderings were revealed of the 11-story, 94-unit mixed-use building planned at 196 Orchard Street, on the Lower East Side. Steel beams are now being rising from the ground at the site, Bowery Boogie reported. The structure will encompass 178,376 square feet. There will be 38,452 square feet of commercial space across the cellar through third floors. Most of that space will be utilized by a three-story Equinox fitness center, which required a special permit from the Board of Standards and Appeals, and Community Board 3 will see the plans this month. Parts of the ground and cellar levels will also contain retail space. The apartments, which will be condominiums, begin on the fourth floor. Units will average 978 square feet apiece and will come in studios and one-bedrooms. The structure will be topped by a roof deck. Magnum Real Estate Group and Real Estate Equities Corporation are the developers, while Ismael Leyva Architects is designing. Incorporated Architecture & Design is responsible for the interiors. Completion is expected in late 2017.

Six-Story, 10-Unit Mixed-Use Building Tops Out at 10-44 Jackson Avenue, Long Island City

11:00 am on June 6, 2016 By Reid Wilson

Back in early 2013, new building applications were filed for a six-story, 10-unit mixed-use building at 10-44 Jackson Avenue, in the Hunters Point section of Long Island City. The site’s two-story predecessor was demolished in late 2014 and, now, construction on the project has topped out, according to the Court Square Blog. The project will measure 12,283 square feet and will feature 1,670 square feet of retail space across the ground and cellar levels. The units, which begin on the second floor, should average 686 square feet apiece, indicative of rental apartments. It will be topped by an apartment that spans part of the sixth floor and an upper-level penthouse. Brooklyn-based property owner Tibi Zicherman is the developer, while Douglas Pulaski’s Bricolage Designs is the architect. Completion is expected later this year.

Preliminary Plans Proposed for Two-Story, 350-Unit Mixed-Use Complex at 195 North Broadway, Hicksville

10:00 am on June 6, 2016 By Reid Wilson

Last year, Midtown-based Seritage Growth Properties (the real estate investment trust, or REIT, of Sears Holdings Inc.) acquired, for an unspecified amount, the 26.4-acre property at 195 North Broadway, in the hamlet of Hicksville, located in Nassau County, Long Island. Now, the REIT has proposed preliminary plans to build a 350-unit mixed-use complex on the site, according to Long Island Business News. They call for a two-story complex also containing retail space that includes a supermarket and shops, as well as a promenade. The property is currently occupied by a 156,000-square-foot Sears department store, a Sears auto center, a Chipotle restaurant, and a TD Bank. Everything would be demolished except for the TD Bank and Chipotle, which are located in separate small structures along North Broadway. The plans are at least a year-plus from getting underway, but the developer has already begun meeting with the Hicksville Community Council. The site is located seven blocks from the neighborhood’s Long Island Rail Road station.

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