Carnegie Hill-based La Scuola d’Italia has purchased 432 West 58th Street from Mount Sinai Medical Systems for $55 million, according to the Daily News. The 14-story, 102,000 square-foot building will be converted into a school with 28 classrooms, a library, media center, gym, dining facility, and additional academic amenities. An entirely new façade is planned, and an atrium will be built on the inside. The school will consolidate its two Upper East Side facilities into its new Midtown West location, allowing enrollment to increase from 300 to 700 students.
Late last year, YIMBY reported on applications for a 30-story, 118-key hotel at 306 West 40th Street, right across from Port Authority, in Midtown West. Now new filings have been submitted for a slightly larger building, rising 36 stories and containing 120 hotel rooms. The structure will measure 44,430 square feet in total, which is an increase by nearly 200 square feet from the old proposal. The project also appears to have changed hands, and Brian Law, operating as NYC One Holding LLC, is the developer. Noel Wong’s Long Island-based ADB Associates is the applicant of record, and an existing four-story building must first be demolished.
Caerus Group is reportedly partnering with an undisclosed university to build an eight-story, 150-dorm-unit mixed-use building at 206-212 Wadsworth Avenue, in northern Washington Heights, three blocks from the 181st Street stop on the 1 train. The building will measure 105,000 square feet, and a Baptist church is planning to relocate to space on the ground floor. The existing three-story church will be demolished. If the university and developer can’t reach a deal, 80 residential units are planned, according to The Real Deal.
Over a year ago, applications were initially filed for a 36-story, 198-unit mixed-use building planned at 38-46 West 33rd Street in Midtown South, and then YIMBY revealed a rendering of the project this past summer. Now, The Torkian Group has landed a $105 million construction loan for their 220,000 square-foot building, Commercial Observer reports. As previously reported, 198 residential units will spread across 160,029 square feet of residential space, with units averaging roughly 800 square feet, and ground-floor retail will measure 5,872 square feet. Stephen B. Jacobs Group is designing, and excavation work is currently underway.
Vornado Realty Corp. and Kushner Companies are proposing to redevelop the 41-story, 1.5-million square-foot commercial building at 666 Fifth Avenue, in Midtown between East 52nd and 53rd Streets, into a 1,400-foot-tall mixed-use tower. According to the New York Post, the building would include a significant retail podium, which will be topped by a slender tower featuring a hotel and residences. Zaha Hadid has been tasked to design, and Kushner owns a majority of the property, although Vornado currently owns the building’s retail condominium along Fifth Avenue, and Zara owns a separate retail portion.