An anonymous LLC’s four-story townhouse at 112 Bowery, in Chinatown, is now receiving a small expansion to 7,300 square feet, according to Bowery Boogie. The building is being converted into an entirely commercial property, with retail space on the ground floor and office/storage space on the upper levels. Zhu Heng Zheng’s Interamericana Engineering is the applicant of record, and completion is likely by 2016.
In March, YIMBY revealed renderings of the four-building, 223-unit condominium redevelopment of Cabrini Medical Center, in Gramercy. Now, developers Chetrit Group and Clipper Equity have closed on a $345.5 million loan for the project, according to Commercial Observer. Dubbed Gramercy Square, three medical buildings will be converted, and a fourth building will be constructed ground-up. Also planned is a 25,000 square-foot court yard, designed by M. Paul Friedberg and Partners; Woods Bagot is the project’s design architect. Completion is expected in 2016.
Concrete and rebar has risen at the 17th floor of Commune Hotel & Resort’s planned 20-story, 229-key Joie de Vivre hotel at 50 Bowery, in Chinatown. Bowery Boogie has the latest update, and glass installation is well underway; the structure was only 10 stories in height this past June. Peter Poon is designing the building, and completion is expected in the spring of 2016.
In October 2014, YIMBY reported on permits filed for a 16-story, 16-unit condominium building at 10 West 17th Street, in the Flatiron District, and then the LPC approved the plans the following December. Now Bhatia Development and Sherwood Equities have landed $48 million in financing from CIT, according to Commercial Observer. An existing three-story building must first be demolished, but construction is expected to begun early in 2016 for a mid-2017 completion. Beyer Blinder Belle is designing.
Soho Properties, MHP Real Estate Services and Hampshire Hotels Group have closed on the purchase of 19,772 square feet of air rights for their planned 29-story, 384-foot mixed-use commercial building at 560 7th Avenue, in Midtown (at 40th Street), according to Commercial Observer. A 238-key Dream Hotel is planned, which will also feature retail space on the ground & second floor, and restaurants on the third floor and cellar level. Stonehill & Taylor Architects is designing, and demolition of the existing six-story building is expected to commence by the end of this year.