In August of 2015, news broke that Tishman Speyer was acquiring five stories of Macy’s nine-story commercial building at 422 Fulton Street, along with the parking garage at 11 Hoyt Street/217 Livingston Street, in Downtown Brooklyn, for $170 million. Macy’s is expected to consolidate their retail space into 278,000 square feet on the lower half of the building (basement through fourth floors). Speyer would then expand and convert the upper portion into 10 stories of office space. The Wall Street Journal now has the first glimpse of the renovations, which Speyer has agreed to fund (as part of the deal), that will go into Macy’s portion of the building. Macy’s and FRCH Design Worldwide are designing their space. Work is expected to begin imminently, and the renovation is expected to be complete in 2019. It was recently reported that Speyer would be utilizing the EB-5 program to raise roughly $60 million in financing.
Last month, YIMBY revealed new renderings of the 23-story, 303-unit mixed-use building planned at 38 Sixth Avenue, in Prospect Heights, located within the 15-building Pacific Park mega-development. Curbed NY now has an update on the entire project, but more specifically photos revealing that this portion of Pacific Park is finally rising. The structure is currently two stories above street level. It will eventually encompass 341,595 square feet and will feature 8,700 square feet of retail space and medical offices on the ground floor. The rental apartments, averaging 957 square feet apiece, will all rent at below market-rates. There will be a mix of studios, one-, two-, and three-bedroom apartments. A partnership between Forest City Ratner and Greenland USA is developing, and SHoP Architects is behind the design. Completion is expected in late 2017.
Back in August of 2015, YIMBY reported on applications for the six-story, 29-unit mixed-use building at 509 Pacific Street, in Boerum Hill. Now, Curbed NY has updated details on the project, as well as the first partial renderings revealing the structure’s exterior. The 114,812-square-foot building, dubbed the Hendrik, will actually feature 33 residential units, averaging 1,680 square feet apiece. The apartments will be condominiums, ranging from two- to four-bedroom configurations. Per the Schedule A, amenities will include a fitness center and a 12,725-square-foot parking garage in the sub-cellar. There will also be 16,293 square feet of retail space across the ground and cellar levels. Hope Street Capital and AEW Capital Management are the developers, with Beyer Blinder Belle behind the design. The site’s old Walgreens store was demolished in 2015 and completion of the new structure is expected in 2017.
Back in July of 2014, YIMBY reported on applications for TF Cornerstone’s planned 25-story, 714-unit mixed-use building at 300 Livingston Street (a.k.a. 33 Bond Street), in Downtown Brooklyn. Now, Commercial Observer has the latest details on the 734,312-square-foot project. Since our last report, the developer has secured $250 million in construction financing. The new building will also have a larger retail component than reported earlier. There will be 55,000 square feet of retail across the ground and cellar levels, and grocers and gyms are already in negotiations for the space. The residential units should average 790 square feet apiece, and 20 percent of them, or 143 apartments, will rent at below market-rates. Demolition of the site’s 49,942-square-foot five-story parking garage wrapped up in early 2015. Handel Architects is behind the design. Completion is expected in 2017.
Pommes Frites, the Belgian fried potato joint in the East Village, was destroyed in a deadly explosion linked to an illegal gas tap on March 26, 2015. Now, the establishment is set to re-open a bit to the west. On Tuesday, the Landmarks Preservation Commission approved its façade at 128 MacDougal Street, located between Bleecker Street and West 3rd Street in the South Village Historic District.