Foundation work is well underway on the eight-story, 73-unit apartment-hotel under development at 138 Bowery, in Little Italy. Work can be seen in images from an update by Bowery Boogie. The 53,088-square-foot project will rise 85 feet in height, per the latest building permits. Retail space will occupy parts of the ground floor and an upper mezzanine level, followed by a 46 hotel rooms on the second through fifth floors. The top three floors will contain 27 residential units, averaging 513 square feet apiece. Emmut Properties is the developer and Middle Village-based Allen Shinfeld is currently listed as the applicant of record. Completion is expected in late 2017.
Back in September of 2015, YIMBY reported on applications for an eight-story, 67-unit apartment-hotel at 138-142 Bowery, in Little Italy. Now, Bowery Boogie has revealed renderings of the project and has reported that demolition of the site’s existing two- and three-story structures has been completed. The new building will encompass 53,088 square feet, and will host 46 hotel rooms and 21 residential units. There will be commercial-retail space on the cellar, ground, and mezzanine levels, so it’s difficult to estimate the size of the hotel rooms. The apartments will span the sixth through eights floors and should average a rental-sized 658 square feet apiece. Emmut Properties is the developer and New Jersey-based Schneider Associates is serving as the applicant of record. Completion is expected in 2017. The developer closed on the development assemblage last October for $47 million.
363-365 Bond Street [Commercial Observer]: Phase one of The Lightstone Group’s 12-story and 700-unit development spanning two blocks at 363-365 Bond Street, in Gowanus, has landed $120 million in construction loans. Foundation work for phase one has already commenced, and…