Parkoff Organization has acquired the single-story, 12,200 square-foot retail building at 107-01 71st Avenue, near the LIRR stop in Forest Hills, for $28 million. The property has roughly 20,000 square feet of unused air rights, and the new owners plan to add multiple floors to the existing structure. Citibank currently leases out the building and is planning to operate on the ground floor after redevelopment.
Developer and designer ASH NYC has received $21 million in construction financing for their planned five-story, 63-unit mixed-use building at 336 Himrod Street, in northern Bushwick. Commercial Observer reports that the main Dannenhoffer’s Opalescent Glassworks building will be integrated into the development, which will feature 4,570 square feet of retail and another 1,570 square feet of community space. Hustvedt Cutler Architects is the architect of record.
Cushman & Wakefield is marketing the three-story, 13,040 square-foot building at 217-219 West 21st Street, in Chelsea, between Seventh and Eighth Avenues. The property has 6,710 square feet of unused air rights, according to Commercial Observer, but a developer could also demolish the existing structure for a new building. Leases currently occupy parts of the building, but expire at the end of 2017.
Demolition of the old single-story warehouse at 27-21 44th Drive, in Long Island City, is now complete; the site will soon yield Silvercup Properties’ 26-story, 115-unit mixed-use building, which YIMBY reported on in 2014. Now The Court Square Blog notes the first on-site rendering has been posted for the nearly 110,450 square-foot building. On the ground floor, 6,095 square feet of retail is planned, and completion is slated for late 2017, with GF55 Partners serving as the architect of record.
Friedland Properties has landed a $182 million mortgage to finance their planned 14-story, 239-unit mixed-use building at 7 West 21st Street, a vacant, thru-block property in the Flatiron District. A number of units will be affordable, and 8,210 square feet of retail is planned on the ground floor. Morris Adjmi Architects is designing, and the project was approved by the LPC in 2013.