Late last year, Pink Stone Capital filed applications for a 51-story, 429-unit mixed-use tower with 23,000 square feet of retail space at 111 Washington Street, in the Financial District, and now the developer has tasked Cushman & Wakefield to market the site. In early 2014, YIMBY reported that the assemblage has 362,300 square feet of development rights, and according to the Daily News, Pink Stone expects to sell it for more than $170 million. Handel Architects was the architect of record for the old plans.
Last summer, YIMBY revealed renderings for Benjamin Ohebshalom’s planned 20-story, 82-unit rental building at 501 East 74th Street, on the Upper East Side, and then YIMBY reported the structure’s topping out last February. Now, per DNAinfo, the façade is being installed, and move-ins are expected this November. The building is being dubbed The Rose Modern, and leasing is expected to kick off next month. The Stephen B. Jacobs Group is the project’s architect.
Rye, NY-based Woodbine Company has purchased the development site at 34 East 62nd Street, on the Upper East Side, for $11.9 million from Russian developer Janna Bullock. Back in 2007, she filed permits for a five-story townhouse, but plans stalled out. The vacant property has 8,000 square feet of development rights, but can be expanded by 6,000 square feet with the purchase of additional air rights. No new building applications have been filed.
In June, Ceruzzi Properties was reportedly in contract to purchase 520 Fifth Avenue, on East 43rd Street, and now the developer has closed on the $325 million site, according to Commercial Observer. Shanghai Municipal Investment’s U.S. arm is partnering with Ceruzzi, and the team is planning to follow through with applications filed back in 2014, which call for a 71-story mixed-use tower.
Extell Development is in contract to purchase the single-story grocery store at 350 East 86th Street, on the Upper East Side, for $100 million, Crain’s reports. The developer also owns neighboring sites, and can build a 20-story, 230,000 square-foot condominium building, with 200 units and retail space. The acquisition is expected to close next year, also when Gristedes’ lease expires. Extell’s plans have yet to be disclosed, and assemblage could be expanded with further acquisitions.