Construction is nearly complete for the 62-story mixed-use tower named “ARO” at 242 West 53rd Street, in Midtown, Manhattan. A plethora of transit options are located near the site. The A, B, C, D, E, F, N, Q, R, W, and 1 trains can all be found within seven blocks distance. Algin Management is responsible for the development.
Permits have been filed for a seven-story mixed-use building at 119 Second Avenue, in the East Village. The development will rise on the site of a tragic explosion from 2015, which claimed two fatalities. After the event, three buildings were demolished and cleared. The new project will fill one of the three addresses. Nexus Development is heading the project, partnering with Immobiliare Capital and Premier Equities. According to the Real Deal, Nexus purchased 119 and 121 Second Avenue in 2017 for $9.15 million. 123 Second Avenue was sold to Ezra Wibowo in 2016.
Demolition Permits have been filed for 517, 519, and 523 West 29 Street, in West Chelsea, Manhattan. The site is just blocks away from Hudson Yards. This comes over a year after reports broke that developer Six Sigma paid a pricey $800 per buildable foot for 4,900 square feet of air rights to add to the project. The $3.92 million purchase allows the developer to add another floor to the top of the structure, which can be expected to sell for quite a sum. Six Sigma purchased the actual property for $54.75 million.
New renderings have been revealed for 208 Delancey Street, a 12-story residential tower coming to the Lower East Side. Back in July of 2015, YIMBY reported that construction had stalled out, and the owner at the time put the project on the market for $35.5 million. New Empire Real Estate is now going to be responsible for the development, and the change in management brought along a completely revamped design, by ODA Architecture, with Shiming Tam serving as architect of record.
The world’s current tallest residential tower, 432 Park Avenue, has broken a record. Total sales of its condominiums have now surpassed $2 billion, and co-developers CIM Group and Macklowe Properties have made the announcement that their Midtown project has now achieved the all-time record for all of New York City. This news leaves the developers just $1.1 billion dollars shy of their expected total $3.1 billion sell-out.