CIM Group

100 Barclay Exterior Crown, image by Ty Cole

Photos Revealed for $59 Million Penthouse at 100 Barclay Street, Tribeca

Images are out now for the redesigned penthouse in 100 Barclay Street, an Art Deco skyscraper adjacent to One World Trade Center on the southern edge of Tribeca. The 32-story building, originally known as the Barclay-Vesey Building, opened in 1927, designed by architect Ralph Walker. During the September 11th attack, the building suffered heavy damage on its southern and eastern facades. Tishman Realty & Construction led its repairs, with William F. Collins responsible for the restoration. The project was finished in three years at a cost of $1.4 billion, whereby all ornamental details and carving motifs were fixed. Since then, the upper floors have been converted to condominiums.

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301 First Avenue

Developer Considering Residential Project at Site Of 24-Story Apartment Tower, 301 First Avenue, Gramercy

CIM Group has entered into contract to purchase, for nearly $90 million, the vacant 24-story, 156-unit apartment building at 301 First Avenue, located on the corner of East 17th Street in Gramercy. The future owners of the 200,000-square-foot tower are floating plans to either renovate the property into rental apartments or demolishing it for a new condominium building, The Real Deal reported. The 13,248-square-foot lot is currently overbuilt under present-day zoning laws. The building was built in 1969 to house Mount Sinai Beth Israel medical personnel and was vacated in the summer of 2016.


85 Jay Street

New Owners Buy High-Profile Mixed-Use Development Site at 85 Jay Street, DUMBO

Kushner Companies, LIVWRK, and the CIM Group have closed on the purchase, for $345 million, of the 135,000-square-foot development site at 85 Jay Street, in DUMBO. The full-block property, currently vacant, could accommodate up to 1.1-million square feet of mixed-use development, the New York Post reported. The new owners plan to develop the site within current zoning laws. A project “with mixed uses” is planned, although plans are very preliminary. It was reported earlier that the site could host as many as 1,000 residential units. The team is in the process of hiring architects and consultants.


247 Cherry Street and 252 South Street, image from JDS

De Blasio’s Housing Policy Unravels as NIMBYs Attack Partially Affordable Developments on the Lower East Side

As Mayor de Blasio’s initiatives to create affordable housing continue to fail, bright spots for advocates of a better and more inclusive New York City are few and far between. In the Two Bridges area of the Lower East Side, JDS, Extell, CIM, L+M, and the Starrett Group are planning five new towers with 700 affordable units. NIMBYs don’t care. Despite all that affordable housing, red herrings went flying at a community meeting last night, and the echo chamber of outrage reverberated all the way onto the internet.

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260 South Street

Design Revealed for Two-Towered, 1,350-Unit Mixed-Use Project Proposed at 260 South Street, Lower East Side

Renderings have been revealed of the two-towered, 1,350-unit mixed-use project planned at 260 South Street, on the Lower East Side. As currently proposed, the towers would stand 69 and 62 stories in height, rising 798 feet and 728 feet to their roofs, respectively. Twenty-five percent of the units would rent at below-market rates through the affordable housing lottery, the Lo-Down reported, and some senior housing will also be incorporated. Plans are still in place to expand the ground-floor retail footprint of the existing 26-story Section 8 residential buildings, called Lands End II, at 265 Cherry Street and 275 Cherry Street, which contain a total of 491 apartments. Renovations will be made to existing park spaces.


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