Stellar Management has acquired the two-story, 4,760 square-foot bank building at 130 2nd Avenue, in the East Village, for $12 million from J.P. Morgan Chase, Commercial Observer reports. The 2,380 square-foot corner site could be redeveloped into a 9,520 square-foot residential building with retail space. At the corner of St. Marks Place, the site is just two blocks from the 6 train’s stop at Astor Place.
Early in 2014, YIMBY reported on filings for a 13-story mixed-use project at 347 Bowery, in the East Village, and later the same year, the site’s three-story building was demolished to make way for the development. Now, per EV Grieve, the 22,857 square-foot building is a story above ground level, and will feature five three-bedroom condominiums. Additionally, three retail units will spread across 10,800 square feet on the first two floors. Urban Muse is developing, and Annabelle Selldorf is designing.
This past summer, YIMBY revealed renderings of Cayuga Capital’s six-story, 64-unit mixed-use conversion of the two-story warehouse at 600 Bushwick Avenue, in northern Bushwick. According to Crain’s, the developer has landed $28 million in financing for the 63,000 square-foot building, which will feature 12,500 and 2,500 square feet of retail and medical offices, respectively, on the ground floor. Ground was broken on the rental project in August, and completion is expected sometime in 2017. Hustvedt Cutler Architects is the applicant of record.
Bed-Stuy-based CS Real Estate has filed applications for a 14-story, 13-unit mixed-use building at 940 First Avenue, in Midtown East, three blocks from the E, M or 6 subways caught on Lexington Avenue at 51st or 53rd Streets. The building will measure 17,450 square feet in total, and will feature 1,073 square feet of commercial-retail space on the first floor. Above, full-floor units will measure 1,210 square feet apiece, likely indicative of condos. Karl Fischer is the architect of record, and an old four-story tenement must first be demolished.
The saga behind the rise of 53 West 53rd Street is finally drawing to a close, and after excavation began approximately one year ago, foundation work is finally beginning for the future supertall. When we last checked on the project, digging had made some progress, but the latest photo set from ILNY shows the base of a crane has now been installed, rebar is arriving, and that excavation work has seemingly wrapped up.