Prime Rok Real Estate and Greystone Property Development have purchased the eight-story, 33,000-square-foot building at 164 West 74th Street, on the Upper West Side, for $28 million. According to Commercial Observer, the new owners are planning to convert the building, which is currently Phoenix House’s drug and alcohol rehabilitation facility, into 14 to 18 condominium units. As currently proposed, the structure’s façade will be lightly restored, the rear will be partially demolished, and the interior will be gut-renovated. Barry Rice Architects is designing the conversion, but any alterations to the property will have to be approved by the Landmarks Preservation Commission, as it’s located within the Upper West Side-Central Park West Historic District.
In May of 2015, YIMBY reported that the Landmarks Preservation Commission approved RFR Realty’s planned commercial restoration of the landmarked Germania Bank Building, a six-story, 36,000-square-foot building at 190 Bowery, in NoLIta. Bowery Boogie now reports the restoration is well underway and crews have replaced the property’s windows. A new entrance is also being installed on the ground level and other alterations are now taking place. The building will eventually have a ground-floor retail space and the upper five floors will be leased as office space. Higgins Quasebarth & Partners and MdeAS Architects are behind the restoration design. Completion can probably be expected later this year.
A three-story row house in Brooklyn is going to stay that way for the time being. On Tuesday, the Landmarks Preservation Commission did not approve a proposed addition to 75 St. Marks Avenue, near the…
Bronx Borough President Ruben Diaz Jr. is proposing to redevelop the Orchard Beach pavilion, an individual landmark, that currently serves as the focal point for Pelham Bay Park, in the East Bronx. The structure, which was completed in 1936, would be transformed to allow for more event space, food concessions and retail space, according to The Real Deal. Nearby the pavilion, the park includes picnic areas, the Pelican Bay Playground, and a beachfront. The pavilion portion of the project is being estimated to cost $40 million, although plans have been in the works for some time to upgrade the rest of the beach, which could cost up to $200 million in total. Diaz has designated $10 million in capital toward the project. The Landmarks Preservation Commission would have to approve any alterations to the Orchard Beach pavilion.
In 2013, Jerry Karlik’s JK Equities acquired the RKO Keith’s Theatre, an individual landmark at 135-27 – 135-35 Northern Boulevard in Downtown Flushing, for $30 million. The developer received approval to redevelop the severely dilapidated structure in 2015, but now Karlik is putting the development site back on the market, Crain’s reports. A new developer could build a 16-story, 269-unit mixed-use building with 24,493 and 15,727 square feet of commercial and community facility space, respectively. A buyer could also take advantage of a previously granted tax break. Studio V Architecture was behind JK Equities’ proposal, although a new owner could always choose to design a different building and go back to the Landmarks Preservation Commission for approval. Cushman & Wakefield is marketing the site.