KBS Capital has entered into contract with Onyx Equities to acquire an 80 percent stake in the Church of St. John the Baptist, a two-story, 23,110-square-foot structure at 210 West 31st Street in Chelsea. KBS and Onyx plan to convert the structure into roughly 30,000 square feet of retail space, The Real Deal reported. The space will be divided between three units, all with space on the ground floor and additional space on the cellar and second levels. A roof patio could also be constructed. KBS is set to pay $39.8 million for the stake. A timeline regarding the sale or construction has not been disclosed. Alteration permits have not been filed at this time.
New Orleans-based Redmellon Restoration and Development is planning to convert the five-story office building at 579 Broad Street, located on the corner of Central Avenue in downtown Newark, into a mixed-use building with 48 residential units. The ground floor will contain 5,591 square feet of retail space on the ground floor. The residential units throughout the rest of the building will be rental apartments, Jersey Digs reported. Eminent Investment Group is the current property owner, as Redmellon has not closed on the sale of the property at this time. A construction timeline has not been disclosed.
An anonymous Queens-based LLC has filed applications for two four-story, two-unit mixed-use buildings at 161-10 and 161-12 46th Avenue, in East Flushing. The buildings will measure 6,500 square feet each. Both will have the same configuration, with 1,593 square feet of retail space on the ground floor, a single residential unit on the second floor, followed by a residential unit across the third and fourth floors. Ling Li’s Flushing-based Li Architect Associates is the architect of record. The 40-foot-wide, 4,000-square-foot plot is occupied by an single-story auto repair shop. Demolition permits have not been filed.
Foundation work is now underway on the 38-story, 251-unit mixed-use project under development at 515 West 36th Street, to be located on the future corner of Hudson Boulevard in the Hudson Yards District. The site can be seen thanks to pictures taken by NY Construction Photography. The latest building permits indicate the tower will encompass 328,473 square feet and rise 418 feet to the roof, not including bulkhead elements.
Construction appears to be nearly complete now that façade installation has finished on the 53-story, 600-unit mixed-use building under development at 551 Tenth Avenue, located between West 40th and 41st streets in Midtown West. The latest photo was taken by NY Constuction Photography. The most recent building permits have the tower, dubbed 555TEN, measuring 712,416 square feet and standing 610 feet in height.