In January of 2016, filings were submitted to the Attorney General’s office for a 91-story, 275-unit luxury residential tower with retail space at 125 Greenwich Street, in the Financial District. Since then, foundation work has been underway and its developers – Michael Shvo, Vector Group, New Valley, and Bizzi & Parters Development – have been in talks to secure a roughly $500 million construction loan. Now, the New York Post reports $175 million in financing has been raised through the EB-5 program. New details also reveal the highest occupied floor will stand 990 feet above street level, although a crown will push the pinnacle of the supertall tower to a yet-to-be-determined height. Condominiums are expected to range from studios to a triplex penthouse. Rafael Viñoly Architects is the design architect. Completion is expected in 2018.
Among the numerous hulking eyesores in New York City, Two Penn Plaza manages to make a particularly negative impact, and its placement above Penn Station helps cement the latter’s status as an architectural failure. But now we have a first look at plans to transform the structure completely, created by Bjarke Ingels Group/BIG for developer Vornado.
Vacant lots are quickly becoming a thing of the past in Bed-Stuy, where developers are snatching them up and building little residential projects. Today YIMBY has the reveal for a four-story rental building under construction at 655 Quincy Street, between Stuyvesant Avenue and Malcolm X Boulevard.
It was back in December that YIMBY told you of Premiere Equities’ plans for a new commercial building at 134 Wooster Street, located between Houston and Price streets in the SoHo-Cast Iron Historic District. Those plans went before the Landmarks Preservation Commission on Tuesday and were approved with very little fuss.
When Robert Moses built the Cross-Bronx Expressway half a century ago, he demolished dozens of large apartment buildings in East Tremont to make way for the six-lane highway. It’s taken the blocks nearby decades to recover, but they are finally seeing new life, in the form of large affordable apartment buildings and small market-rate ones. Yesterday, new building applications were filed for a six-story, market-rate apartment building at 712 East 175th Street.