The City’s EDC has confirmed the redevelopment of the parking lot at 493 11th Avenue, on West 39th Street in Midtown West, according to DNAinfo. The City will request proposals this summer for a permanently all-affordable housing tower, which will also have retail and community space on the lower levels. The site was previously said to allow for a 45-story, 300-unit building, and was formerly occupied by a six-story slaughterhouse, demolished in the 1980’s.
Construction has wrapped up at 331 East Houston Street, on the Lower East Side, where Halpern Real Estate Ventures has built a 13-story, 78-unit residential building, per EV Grieve. The building measures 57,560 square feet, which means units average 740 square feet, and 16 apartments are set aside as affordable. SBJ Group designed the building, and occupancy is likely planned in the next few weeks once the remaining scaffolding is deconstructed.
Last Summer, Apex Real Estate Investments acquired the three-story buildings spanning 253-255 3rd Avenue, in the Gramercy, and now the firm has purchased the buildings at 257-259 3rd Avenue for $15.7 million. According to Commercial Observer, initial plans were to build a 25-unit residential building with affordable units at Nos. 253-255, but it seems the site has been expanded. Bonus air rights are also available with the inclusionary housing bonus, but the rights will apparently be transferred elsewhere.
Marx Development Group has acquired 35,550 square feet of transferable development rights for $7 million as they prepare to build a 39-story and 438-key hotel at 450 11th Avenue, in Midtown West. According to Commercial Observer, the building will measure 213,300 square feet, although plans have yet to be filed with the DOB. Multiple single-story commercial buildings must first be demolished, and ground breaking is planned in 2016.
Yan Po Zhu, the developer of a planned 12-story, 69-unit mixed-use building at 208 Delancey Street on the Lower East Side, is selling the construction site — currently four stories up in steel framing — for $35.5 million. According to Bowery Boogie, the 67,300 square-foot building is being designed by Michael Kang, and an 8,350 square-foot community facility is expected to occupy the ground floor. Construction stalled out roughly a year ago.