Real progress is being made on the redevelopment of the South Street Seaport. Façade installation is well underway on the new Pier 17 mall.
In November, the Landmarks Preservation Commission approved the lifting and reconfiguration of the landmarked Palace Theater at 1564 Broadway. Now, thanks to EB-5 documents, we have full renderings of what the DoubleTree Hotel site surrounding it will look like once the redevelopment is finished.
Fairstead Capital has purchased the vacant seven-story, 108-key Park 79 Hotel at 117 West 79th Street, on the Upper West Side, for $22.5 million. The new owners plan to convert the 32,172-square-foot SRO building into an undisclosed number of residential apartments. It’s unclear whether the apartments will be rentals or condominiums. Park 79 Hotel closed late last year after receiving a slew of violations from the Buildings Department. Before the property was an illegal hotel, it was supposed to be a single room occupancy building for low-income tenants, Real Estate Weekly reported. The property comes with 27,780 square feet of air rights, allowing for a potential expansion. It’s also located within the Upper West Side/Central Park West Historic District, which means the Landmarks Preservation Commission must approve any exterior alterations.
A nearly 150-year-old residential structure in Brooklyn will soon get a facelift. The Landmarks Preservation Commission recently approved the restoration of 218 Guernsey Street, located at the corner of Oak Street in the Greenpoint Historic District.
Last week, the open-air Ford Amphitheater on the Coney Island Boardwalk, at 3052 West 21st Street in southern Brooklyn, held its ribbon-cutting ceremony. The 5,000-seat venue debuted its first show, Impractical Jokers, on Friday. Live Nation is operating the amphitheater, according to Crain’s, and the location now serves as the new home of Seaside Summer Concert Series, which hosts free shows during the summer months. The three-story former Childs Restaurant Building, an individual landmark, was renovated and incorporated into the new amphitheater structure. The 90,164-square-foot building will also feature a restaurant on the ground floor and the rooftop, although it’s unclear when that will open. The rest of the property includes 40,000 square feet of public open space. The project is the work of iStar Financial, the nonprofit Coney Island USA, and the New York City Economic Development Corporation (NYCEDC). Gerner, Kronick + Valcarcel (a.k.a. GKV Architects) is the architect of record.