In September of 2015, Stellar Management acquired, for $12 million, the two-story, 7,500-square-foot commercial building at 130 Second Avenue. That’s located on the corner of St. Marks Place in the East Village. It has now been revealed that Stellar will renovate the existing building, formerly occupied by a Chase bank branch. It will become the headquarters of the currently TriBeCa-based non-profit art organization Swiss Institute, Curbed NY reported. Besides upgraded office space, new elements will include event spaces, a library, a bookstore, and a rooftop terrace. Selldorf Architects is designing the renovation and completion is expected in 2017.
Construction is now two stories above street level on the seven-story, 106-unit mixed-use building under development at 500 East 14th Street, on the corner of Avenue A in the East Village. The progress can be seen in a Curbed NY report. The entire project, which will include another seven-story, 54-unit component at 524 East 14th Street, will encompass 253,432 square feet, per the latest building permits. There will be 56,610 square feet of retail space on the ground and cellar levels between the two buildings. Over the summer, Target leased 42,367 square feet of space in the larger one. The residential units will be condominiums and should average 1,215 square feet apiece. Extell Development Company is the developer and Beyer Blinder Belle is behind the architecture. Completion is expected in 2017.
The Lightstone Group is pushing forward with plans to knock down five tenement buildings in the East Village and replace them with a hotel that caters to millennials. The controversial developer filed applications last Friday for a 13-story hotel at 112 East 11th Street, between Third and Fourth avenues.
Yesterday, YIMBY reported on applications for a seven-story, five-unit mixed-use building at 3 East 3rd Street, located on the western end of the East Village. Real Estate Weekly managed to get their hands on a rendering of the project, which is to be developed by Brooklyn-based Barrett Design. Alex Barrett, the firm’s architect, is designing the project in-house. The project will include a 3,135-square-foot retail condo spanning three levels, including the ground floor. Above that, there will be four full-floor condominiums and a duplex penthouse. The developer has secured $6.9 million in financing for the acquisition of the site. A three-story commercial building must first be demolished.
The Brooklyn-based development and design firm Barrett Design has filed applications for a seven-story, five-unit mixed-use building at 3 East 3rd Street, on the western end of the East Village, a few steps from Bowery. The new building will measure 17,520 square feet. It will host 3,135 square feet of retail space across the cellar, the ground floor, and an upper mezzanine level. There will be full-floor residential units on the second through fifth floors, followed by a duplex penthouse on the sixth and seventh floors. The penthouse will sport an exclusive roof terrace. Private residential storage space will be available to all units. Averaging 2,101 square feet apiece, the apartments will very likely be condos. The 40-foot-wide, 3,055-square-foot lot is occupied by a three-story commercial building. Permits were filed in August to demolish it.