A U.S. subsidiary of Beijing-based China Oceanwide Holdings has made a deal with Howard Hughes Corp. to purchase the development site at 80 South Street, in the Financial District, for $390 million, according to Crain’s. Along with the five-story building at 80 South Street, the assemblage includes the 10-story building at 163 Front Street. The site boasts 820,000 square feet of development rights, with residential space allowed to span 440,000 square feet while the remainder designated for some form of commercial space.
This past spring, The New York Times revealed full renderings of Sumaida + Khurana’s planned seven-story, seven-unit condominium project at 152-154 Elizabeth Street, in Nolita, the same time crews began demolition work on the existing four-story building. Now the developer has landed a $40 million construction loan. The building will have 26,012 square feet of residential space, and units will average a luxury 3,716 square feet apiece. Tadao Ando is the project’s design architect, while Gabellini Sheppard Associates is the applicant of record, and completion is expected in November 2016.
William Gottlieb Real Estate and Aurora Capital Associates are planning to redevelop the low-rise market buildings spanning 46-74 Gansevoort Street, in the Meatpacking District, according to The Villager. Plans, filed this past June, call for an eight-story building at 70-74 Gansevoort, and expansions to three and four stories to existing two-story buildings at 60-68 Gansevoort.
Demolition of the structures at Nos. 50 and 70-74 is the first step, and any alteration or removal will have to be approved by the LPC. The properties are zoned for hotels, offices, retail and light manufacturing, and roughly 111,000 square feet of space is proposed. BKSK is the architect of record.
Bedrock exploration is now taking place at 200 Amsterdam Avenue, near 70th Street in Lincoln Square, according to West Side Rag. Earlier this year, the site — which has 388,000 square feet of development rights — was placed on the market with an asking price of more than $400 million. It’s unknown who exactly is behind the tests, as a developer and architect have not been disclosed. Demolition permits for the existing structure have not yet been filed.
After Chetrit Group landed a $60 million acquisition and pre-development loan for their development site spanning 541-545 West 37th Street, in Midtown West, the developer is planning to move forward with their plans, which YIMBY reported on nearly a year ago. The site boasts 373,000 square feet of building potential, and conceptualized as a 50-story mixed-use tower featuring 100 residential units and 350 hotel rooms. Two three-story buildings must first be demolished.