Commercial

43-01 22nd Street

New Owners to Renovate Six-Story, 225,000-Square-Foot Commercial Building at 43-01 22nd Street, Long Island City

1:00 pm on May 11, 2016 By Reid Wilson

Olmstead Properties and Newmark Holdings are in contract to acquire the six-story, 225,000-square-foot commercial building at 43-01 22nd Street, in the Queens Plaza/Court Square section of Long Island City. The building currently houses office and design spaces, with Reis Studios, Concept Press, and interior designer Christian Liaigre leasing space at the property. The building is expected to trade hands for more than $60 million, according to Commercial Observer. The new owners plan to renovate the building by upgrading the lobby and replacing the windows and elevators. Roughly 50,000 square feet of commercial space is currently available.

178 Flatbush Avenue

Three-Story, 18,000-Square-Foot Office Building Filed at 178 Flatbush Avenue, Park Slope

1:00 pm on May 10, 2016 By Reid Wilson

Property owner Joseph Zelik has filed applications for a three-story, 17,882-square-foot office building at 178 Flatbush Avenue, in northern Park Slope, located two blocks from the Atlantic Av-Barclays Center stop on the 2/3/4/5/B/D/N/Q/R trains and Atlantic Terminal. According to the Schedule A, the entire building will host office space and, unfortunately, won’t contain ground-floor retail, though that could always change. Joseph Spector’s Financial District-based Dome Architecture, Design, and Engineering Group is the architect of record. The lot, at the corners of Fifth Avenue and Dean Street, is currently occupied by a single-story commercial building with multiple tenants. Demolition permits were filed in April to remove the building.

150 Park Avenue

Five-Story, 130,000-Square-Foot Medical Building Planned at 150 Park Avenue, Florham Park, New Jersey

10:00 am on May 10, 2016 By Reid Wilson

Back in March, developers broke ground on a five-story, 256-unit residential complex at 90 Park Avenue, in the North Jersey community of Florham Park. Now, located in the same business park Green at Florham Park, a five-story, 130,000-square-foot medical office building is being planned at 150 Park Avenue. Summit Medical Group and the University of Texas MD Anderson Cancer Center recently signed a lease at the property, which will be home to a cancer treatment center. The Rockefeller Group, the same developer that built the residential project at 90 Park, is developing the medical facility. The building will be located roughly 1.5 miles from NJ Transit’s Madison station, although a large parking lot is also planned.

24-30 West 39th Street

Developer Moves Forward on Commercial Site at 24-30 West 39th Street, Midtown South

6:00 am on May 4, 2016 By Reid Wilson

Fortuna Realty Group has filed permits to demolish the four five-story commercial buildings spanning 24-30 West 39th Street, in Midtown South. The hotel developer acquired 24-28 West 39th Street for $18.3 million in 2014, DNAinfo reports, although it has not yet officially acquired 30 West 39th Street. Plans for the site have not been disclosed, but the assemblage could accommodate up to 86,620 square feet of commercial space. That means a hotel, office building, or a community-facility-based project could eventually be built. A few tenants must first vacate the premises before the building can be demolished.

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