Earlier this year, Citigroup began advertising their development site at 23-15 44th Drive, in Long Island City, and now Jia Shu Xu’s C&G Empire Realty is acquiring the property for $143 million. The 36,000 square-foot site — a block from the Court Square stations serviced by the E, M, G and 7 trains — boasts roughly 780,000 square feet of building potential in the form of residential or commercial space. The new owner’s plans have not been disclosed, but existing three- and single-story structures must first be demolished.
Strategic Capital, a branch of China State Construction Engineering Corp., has acquired the development sites at 75 Park Lane and 2 Shore Drive North, both in the Newport neighborhood of Jersey City. According to NJ Biz, the sites are approved for 37- and seven-story condominium buildings, respectively, totaling a combined 632,000 square feet of space, which includes 24,000 square feet of retail. The new owner plans to develop the condos, and Holliday Fenoglio Fowler marketed the sites.
In 2014, Jonathan Rose Companies acquired the thru-block commercial property at 181 Montague/140 Pierrepont Street, in Brooklyn Heights; the developer also owns the five-story building at 146 Pierrepont Street. Now, new building applications have been filed with the DOB calling for a 19-story, 68-unit mixed-use building. Units will average a condo-sized 1,860 square feet in the 132,715 square-foot building. Retail space will also measure 6,230 square feet on the ground floor.
Façade installation is nearing completion at the seven-story, 41-unit mixed-use building under construction at 185-193 Avenue B, in the East Village, according to EV Grieve. The Elim Pentecostal Church owns the property, and will have a 6,650 square-foot facility on the ground floor. The entire structure will measure 33,865 square feet, and units will average a rental-sized 665 square feet. Conrad Roncati’s Architectura is architect of record, and occupancy is slated for later this year.
Fisher Brothers, Witkoff, and New Valley have closed on a $445 million construction loan for their planned 58-story, 157-condo-unit luxury tower at 111 Murray Street, in Tribeca. YIMBY brought you new renderings of the Kohn Pedersen Fox-designed building last month, and David Mann is designing the interiors; retail space will also measure 2,100 square feet on the ground floor.