A 500,000-square-foot office building in the Flatiron District is getting some upgrades. 41 Madison Avenue, located between East 25th and 26th streets, was built by Samuel Rudin in 1972 and now the Rudin Management Company is renovating its public spaces, and YIMBY has the first renderings.
Property owner Transition Acquisitions is planning to convert the five-story, 57,800-square-foot former Globe Exchange Bank building, located at 815 Broadway in far-western Bushwick, into office space, Commercial Observer reports. The property is currently vacant and boasts 41,673 square feet of commercial space. According to the Schedule A, 15,600 square feet of retail space will span the ground floor, medical offices will be located in the cellar level, and the rest of the building will full-floor contain office spaces. Boaz Golani’s Bronx-based BMG Design Build is the architect of record. The current owner acquired the building in July of 2015 for $15.1 million and the conversion is expected to be complete in the spring of 2017.
Back in November of 2015, the two-story building at 290 Grand Street, on the Lower East Side, was being converted into 4,288 square feet of commercial space by its owner Cheuk Fan Cheung. Bowery Boogie now reports that construction has finished and scaffolding is being removed from the structure. The building is practically unrecognizable, as a completely new façade was installed as well as future storefronts and windows. The commercial space will be split between retail and office space. There will be three ground-floor retail units, and the second floor and cellar spaces will be leased to non-medical office tenants. Jianxiong Wang’s JW Engineering Consulting is the applicant of record. Opening will likely happen soon.
On Tuesday, the Landmarks Preservation Commission approved a plan to relocate the entrance to the Paramount Building, an individual landmark at 1501 Broadway in Times Square, from Broadway on to West 43rd Street.
Charlotte, N.C.-based SunCap Property Group has filed applications for a two-story, 362,474-square-foot commercial warehouse at 46-06 57th Avenue, in the western industrialized section of Maspeth known as Haberman. The enormous building will stand 60 feet in height and will have a lobby, offices, a distribution area, and storage space on the ground floor. The second floor will contain a parking garage with 225 parking spaces. It’s not known who will operate in the warehouse, but the property owner currently operates a FedEx Ground distribution center at 29-01 Borden Avenue, in Long Island City. The new building is being designed by Long Island-based Baldassano Architecture. The 513,221-square-foot swath of land is currently vacant.
