Commercial

131 Lynhurst Avenue

Five-Story, 85,000 Square-Foot Self Storage Building Filed At 131 Lynhurst Avenue, Rosebank

4:00 pm on December 10, 2015 By Reid Wilson

Staten Island-based Woodmont Development Corp. has filed applications for a five-story, 85,450 square-foot self-storage building at 131 Lynhurst Avenue, in Rosebank, located on Staten Island’s northern shore. It will include 58,788 square feet of commercial space, which is the rentable storage area within the project. Flushing-based David Silberman is the applicant of record. The 29,408 square-foot lot is currently vacant.

993 Sixth Avenue

Investors Assemble Development Site At 989-993 Sixth Avenue, Midtown

4:00 pm on December 9, 2015 By Reid Wilson

Isaac Chetrit and Ray Yadidi are in contract to acquire 235,000 square feet of air rights from the five-story former bank building at 1352-1362 Broadway, between West 36th and 37th Streets in Midtown. The price the investors are paying has not yet been disclosed. On the same block, they own the vacant lot – acquired this past fall – at 993 Sixth Avenue and the adjacent 21-story, 96,000 square-foot office building at 989-991 Sixth Avenue. Their assemblage amounts to a site with roughly 375,000 square feet of development rights, according to The Real Deal.

48-18 Van Dam Street

Commercial Conversion Planned For Two-Story Industrial Building At 48-18 Van Dam Street, Sunnyside

11:00 am on December 8, 2015 By Reid Wilson

Teamsters Local 813 and Local 27 IBT Pension Fund have acquired the two-story, 55,000 square-foot industrial building at 48-18 Van Dam Street, in Sunnyside’s western industrial neighborhood, for $20 million, according to Commercial Observer. The new owners plan to convert the building into commercial space, featuring retail space on the ground floor and office space on the second. Environetics is designing the project. Although the building is mostly vacant, three tenants remain in the building and their leases expire in no more than three years.

560 Seventh Avenue

First Glimpse At 29-Story Dream Hotel Planned At 560 Seventh Avenue, Times Square

4:00 pm on December 7, 2015 By Reid Wilson

Earlier this year, YIMBY reported on applications for a 29-story commercial building at 560 Seventh Avenue, between West 40th and 41st Streets near Times Square, and over the summer, the developer finished assembling the air rights. The Real Deal has the first glimpse of the planned Dream Hotel, which will include 167 units, per the latest filings. Retail space will total 15,463 square feet in the 118,508 square-foot building. Stonehill & Taylor Architects is designing and UAP North America is crafting a metal screen attachment for part of the three-story podium. Soho Properties, MHP Real Estate Services, and Hampshire Hotels Group are developing, and completion is expected in early 2018.

234 Butler Street

Developer Planning Two Commercial Buildings At 234 Butler & 242 Nevins Streets, Gowanus

1:00 pm on December 4, 2015 By Reid Wilson

Alloy Development is seeking to build two 104,000 square-foot office buildings at 234 Butler Street and 242 Nevins Street, in northern Gowanus, located four blocks from the Union Street stop on the R train. DNAinfo reports those are the same properties the city is looking to seize through eminent domain to build two underground sewage tanks. The U.S. Environmental Protection Agency has ordered the construction of the tanks, and is recommending for them to be built under Thomas Green Park, an adjacent block. Alloy has offered the city 138,000 square feet of public park space if they were to develop the properties, which both owners have already agreed to. The EPA says the adjacent park would have to be decontaminated regardless, and the agency will make the final decision on the tanks’ location in the next few weeks.

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