Earlier this year, Silverstein Properties paid roughy $100 million for a car dealership at 520 West 41st Street, aka 514 Eleventh Avenue, in Midtown West. Last summer, YIMBY revealed plans for an 106-story, 1,400-unit mixed-use tower at the site (currently traversing ULURP). Although the proposed 1.685 million square-foot building has yet to be approved, Curbed reports demolition of the existing low-rise commercial building has begun.
Isaac Chetrit and Jacob Aini have won a bid to acquire the 14-story, 63,000 square-foot commercial property at 315 West 35th Street, in the Garment District, for $43 million. The new owners plan to convert the vacant building into residential condominiums. The building was placed up for auction after the previous owner, developer Aaron Chitrik, defaulted on the property’s mortgage, according to The Real Deal.
JDS Development’s 41- and 48-story residential towers planned at 626 First Avenue, on the East River in Murray Hill, are now rising quickly, per Curbed. Construction began nearly a year ago, and completion of the 800-rental-unit development is expected in 2017. SHoP Architects is designing, and façade installation has also begun closer to street level. A 38,000 square-foot park is planned to surround the base of the project.
The four tenement buildings spanning 148-154 Rivington Street, on the Lower East Side, are set to be redeveloped into a residential property, according to Curbed. The existing buildings, formerly Streit’s Matzo Factory, total roughly 50,000 square feet, and were picked up earlier this year for $30.5 million by Cogswell Realty.
In May, YIMBY revealed partial renderings of Extell’s planned residential tower at 250 South Street, and at the time, DOB filings indicated it was to stand 56 stories, spanning 939,850 square feet. Now, according to DNAinfo, permits show a tower closer to the initially proposed building, standing 68 stories and 800 feet tall, and measuring 1,105,386 square feet. The project now includes 802 residential units, and 25,516 square feet of retail space on the ground floor.