The city’s Economic Development Corporation has requested proposals to develop the property at 124 East 14th Street, between 3rd and 4th Avenues in Union Square, according to Crain’s. Currently, a two-story commercial building housing a P.C. Richard & Son appliance store occupies the property. The site, however, boasts the potential for 140,000 square feet of residential development or 93,000 square feet of commercial development rights. The city is aiming to have an office building constructed, but the project could end up being residential or mixed-use. Existing retail leases in the building expire in February of next year, the same time proposals are due.
In the last few days of 2014, YIMBY reported on applications to construct a four-story, eight-unit mixed-use building at 681 Franklin Avenue, in northwestern Crown Heights, six blocks from the Franklin Avenue stop on the 2, 3, 4, and 5 trains. Now, Curbed and DNAinfo have renderings for various versions of the project. The building will actually appear as six stories and stand 60 feet tall, thanks to two mezzanine levels which weren’t included in the previous floor count. The building will also include 2,134 square feet of ground-floor retail space.
In July, Adam America Real Estate and Slate Property Group were in contract to acquire the development assemblage at 8-16 Nevins Street, in Downtown Brooklyn, and now the team has closed on the purchase, according to Crain’s. The developers paid $47.75 million for the site, and Vanke, a Chinese developer, is partnering to build a 33-story, 150-unit residential building. The tower will total 180,000 square feet, and retail space is also likely planned. Construction is expected to begin early next year, although multiple low-rise buildings must first be demolished.
Over a year ago, Forest City Ratner placed their Downtown Brooklyn development site, at 625 Fulton Street, on the market, and now Rabsky Group has agreed to purchase the property for $158 million, according to Commercial Observer. The site contains 600,000 square feet of development rights, and a residential tower is most likely, although plans for the site remain undisclosed. Until last year, the site was home to a seven-story, 359,000 square-foot office building.
Earlier this year, Friedland Properties acquired financing for their 17-story, 230-unit residential building planned at 7 West 21st Street, in the Flatiron District. Now, the project has topped out, as seen in the above photos, courtesy of Tectonic. The block-thru development has street exposure on West 22nd and 21st Streets, and 8,210 square feet of retail space is planned on the ground floor. Fifty-eight of the residential units will rent at below-market rates. Morris Adjmi Architects designed the building, and completion is expected in 2016.