DSA Property Group is planning to convert the 15-story, 75,000-square-foot dormitory at 106 Fulton Street, in the Finaicial District, into rental apartments. The project will consist of a “light renovation” of only the living spaces, Commercial Observer reported, ensuring that the apartments will be able to be rented at affordable rates. The ground floor contains 3,543 square feet of retail space leased to Burger King through 2020. DSA acquired the dormitory from Pace University for $51.1 million earlier this month. A $45 million acquisition loan was also recently secured.
The federal government is finally cleaning up the Gowanus Canal, and the Lightstone Group has just finished a 12-story rental building along the banks of the heavily contaminated waterway. Now the city has kicked off a long-awaited rezoning study for the industrial area around the canal, but officials offered few guarantees or timelines for the new zoning.
Out in the borderlands between Bedford-Stuyvesant, Crown Heights, Brownsville, and East New York, there’s a working class, largely black neighborhood called Ocean Hill. A small new development is headed to the area at 2353 Dean Street, between Rockaway Avenue and Eastern Parkway.
It appears the final design has been fully revealed for the 11-story, 233-unit mixed-use building under development at 149 East 125th Street, a.k.a. 146 East 126th Street, on the northern end of East Harlem. A groundbreaking ceremony has also been held for the project, dubbed Gotham East 126th Residential, Curbed NY reported. The latest building permits indicate it will encompass 275,566 square feet and rise 120 feet to the roof, not including the bulkhead.
A development team has been selected by the New York City Economic Development Corporation (NYCEDC) to build a five-building, 740-unit mixed-use project at the site of the abandoned Spofford Juvenile Detention Center. The facility, spread across five acres, is located at 1221 Spofford Avenue, in the South Bronx’s Hunts Point section. The development team comprises of Gilbane Development Company, the Hudson Companies, and Mutual Housing Association of New York.