Commercial

Two-Story, 26,000-Square-Foot Mixed-Use Commercial Redevelopment Underway at 599 Johnson Avenue, East Williamsburg

11:00 am on July 22, 2016 By Reid Wilson

Property owner Bushwack Capital is currently redeveloping the two-story, 16,600-square-foot former industrial building at 599 Johnson Avenue, in western Bushwick, into a 26,000-square-foot mixed-use commercial property. The Williamsburg-based club Glasslands Gallery is expected to lease a roughly 24,000-square-foot venue, dubbed Elsewhere, for events on the ground floor, Commercial Observer reported. Another 2,300-square-foot space on the ground floor is intended for a restaurant, and 2,250 square feet on the second floor will be utilized as commercial-office space geared towards the arts. Chelsea-based Kossar + Garry Architects is the architect of record and Greco Construction Development is the general contractor. Completion is expected this fall. Bushwack acquired the property for $4.45 million in February of 2015, and a few months after, YIMBY reported on applications for the conversion project.

Request for Proposals Launched to Transform Allen Street Pedestrian Mall Into Food Facility, Lower East Side

6:30 am on July 22, 2016 By Reid Wilson

The Parks Department and the Lower Manhattan Development Corporation have launched a request for proposals (RFP) to redevelop the long-vacant, single-story Allen Street pedestrian mall, the former public bathroom located at the intersection with Delancey Street on the Lower East Side. As disclosed earlier this year, the city hopes a developer or business can convert the little building into a “food service facility,” DNAinfo reported. Community facilities are apparently not being considered at this time. Repairs to the structure will have to include significant work to the roof, walls, and floors, in addition to the replacement of door and windows, and the installation of necessary infrastructure. The restaurant and/or food vendor may also include outside seating. Proposals are due September 15, and the city expects to select a team in early 2017.

Multi-Building, Mixed-Use Development Proposed for Former Peninsula Hospital Center Site, Edgemere, Queens

4:00 pm on July 21, 2016 By Reid Wilson

The Arker Companies and the Northeast Brooklyn Housing Development Corporation have acquired, for $19 million, the site of the former Peninsula Hospital Center, located at 51-15 Beach Channel Drive in Edgemere, along the Rockaways in Queens. The developers plan to build a multi-building residential and commercial complex, according to DNAinfo. It’s unclear how large the project will be, but plans will be going through the city’s Uniform Land Use Review Procedure (ULURP), which indicates an individual rezoning is in the works. That means at least 30 percent of the residential units will have to be affordable. A four-story nursing home on site is currently occupied and will remain, but the four-story, 173-bed hospital building will be demolished. The hospital has been closed since 2012. The site – bound by Beach 50th Street, Rockaway Beach Boulevard, Beach 53rd Street, and Beach Channel Drive – is five blocks from the Beach 60th Street stop on the A train.

Renovation Underway at Three-Story, 160,000-Square-Foot Retail Building, 1530 Broadway, Times Square

6:30 am on July 21, 2016 By Reid Wilson

The former flagship Toys “R” Us store closed last December, leaving vacant the three-story, 160,000-square-foot building at 1530 Broadway, located between West 44th and 45th streets in Times Square. Since then, work has been underway to…

Mixed-Use Commercial Conversion Planned for Eight-Story Coney Island Theater Building, 1301 Surf Avenue

4:00 pm on July 20, 2016 By Reid Wilson

The first preliminary renderings have been revealed of the planned mixed-use commercial conversion of the eight-story, 115,000-square-foot Coney Island Theater Building (a.k.a. Shore Theater), an individual landmark at 1301 Surf Avenue, located on the corner of Stillwell Avenue on Coney Island. PYE Properties currently plans to transform the property into retail space and a hotel, while restoring the existing theater, which has been rapidly deteriorating, to an entertainment venue, Brooklyn Daily reported. Office and community space may also be included, depending on the tenants that show interest. Alteration permits haven’t yet been filed with the Buildings Department. Since the building is a landmark, the Landmarks Preservation Commission must approved any exterior alterations. PYE acquired the Shore Theater in January for $20 million. The Coney Island-Stillwell Avenue stop on the D/F and N/Q trains is across the street.

Developer in Contract to Acquire Commercial Site at 455-459 Smith Street, Gowanus

11:00 am on July 19, 2016 By Reid Wilson

Property Markets Group is in contract to purchase the vacant 166,000-square-foot property at 455-459 Smith Street, in Gowanus, for roughly $50 million, DNAinfo reported. The site – bound by Huntington Street to the south, Smith Street to the west, Fifth Street to the north, and the Gowanus Canal to the east – is zoned for manufacturing. It can support 332,000 square feet of commercial development as-of-right in the form of offices, hotels, retail, and manufacturing/industrial space. The eventual new owner is mulling the idea of building a mixed-use development with a hotel, offices, and retail space, although development plans are in very early stages. The site, once home the Citizens Manufactured Gas Plant, is currently undergoing a remediation headed by National Grid. The plant’s last warehouse structure was demolished years ago. The Smith-Ninth Streets stop on the F and G trains is located a block to the south.

Renovation Underway at 16-Story, 135,500-Square-Foot Office Building at 45 West 45th Street, Midtown

4:00 pm on July 18, 2016 By Reid Wilson

Property owner Vanbarton Group is currently renovating the 16-story, 135,533-square-foot commercial-office building at 45 West 45th Street, in the heart of Midtown. Progress on the work being done on the interior can be see in a Commercial Observer report. The property, which was last renovated in the 1980s, will see its lobby redesigned with increased lighting and new finishes, and it will receive façade restoration. The office floors above are getting their dividing walls demolished, modernizing and enhancing the flow of the floor plates. Significant repairs are also being done to fix the floors and ceilings, which were revealed to be crumbling. Mechanical equipment, like elevators, is being replaced with new appliances. Probably the most exciting upgrade is an outdoor roof deck and lounge. A restaurant is also planned to occupy as much as 16,346 square feet of space on the ground, mezzanine, and lower levels. The work is being done in three phases, with the last expected to be complete by spring of 2017. Spivack Architects is the architect of record.

City Seeks Affordable Mixed-Use Building for 65 East 149th Street, Lower Concourse

11:00 am on July 18, 2016 By Reid Wilson

The New York City Economic Development Corporation (NYCEDC) and the Department of Housing Preservation and Development (HPD) have launched a request for expressions of interest (RFEI) for the 158,000-square-foot development site at 65 East 149th Street, located in the South Bronx’s Lower Concourse section. The hope is for a development team to propose a mixed-use building with an assortment of affordable residential units, commercial space, and community facilities, DNAinfo reported. In addition, there will have to be public open space, which will hopefully be in the form of a waterfront esplanade (the site fronts the Harlem River). Infrastructure upgrades are also part of the project. The vacant site is located five blocks from the 149th Street-Grand Concourse stop on the 2 and 5 trains. Responses are due by October 11.

Commercial-Office Conversion Planned for 10- And Seven-Story Industrial Buildings at 341-353 39th Street, Greenwood Heights

2:00 pm on July 12, 2016 By Reid Wilson

Madison Realty Capital has acquired the 10-story, 130,000-square-foot industrial building at 341 39th Street and the neighboring seven-story, 30,000-square-foot industrial property at 353 39th Street, in southern Greenwood Heights (on the border of Sunset Park), with plans to convert the structures into modern office and manufacturing space. The properties traded for $37.5 million, Crain’s reports. The currently vacant buildings would get new lobbies, windows, mechanical equipment such as elevators, amenities, and outdoor space (presumably on the roof). Between the buildings, the floor plates will range from 4,000 square feet to 13,000 square feet. The 36th Street stop on the D, N, and R trains is three blocks to the north. The duo was placed on the market last year with an asking price of nearly $50 million.

Reveal for Two-Tower, 1.1-Million-Square-Foot Office Complex at 28-07 Jackson Avenue, Long Island City

6:30 am on July 12, 2016 By Reid Wilson

A rendering has been revealed of Tishman Speyer’s planned two-tower, 1.1-million-square-foot office complex at 28-07 Jackson Avenue (a.k.a. 28-10 Queens Plaza South), in the Queens Plaza section of Long Island City. The towers – dubbed One and Three Gotham Center – will stand 27 stories, or 396 feet, in height. As YIMBY reported in June, new building applications indicate a common four-story base will include roughly 30,000 square feet of retail space, restaurants, a food hall, and a parking garage for cars and bikes. The rendering also depicts an outdoor terrace on the fifth floor. 800,000 square feet of office space in the complex has already been pre-leased. One tenant includes WeWork, which is set to take 250,000 square feet. Another is Bloomingdale’s, which has reserved 550,000 square feet of office space, Crain’s reported. Doha-based Qatari Diar is co-developing the project, while Financial District-based MdeAS Architects is designing. Excavation is expected to begin in early 2017, with completion scheduled for 2019. One and Three Gotham Center will join the 22-story, 700,000-square-foot Two Gotham Center located immediately to the north. Tishman Speyer developed that in 2011.

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