Retail

124 West Houston Street

Mixed-Use Conversion Planned for Six-Story Building at 124 West Houston Street, Greenwich Village

3:00 pm on May 31, 2016 By Reid Wilson

An anonymous New York investor has acquired, for $15.4 million, the six-story, 13,150-square-foot former residence and studio of artists Madeline Arakawa Gins and Shusaku Arakawa at 124 West Houston Street, in Greenwich Village. The new owner plans to convert the building’s ground and cellar levels into retail space and turn floors two though six into residential units, according to Commercial Observer. The building is vacant, except for a rent-controlled apartment on the fifth floor. It’s not clear if the apartments will be rentals or condos, but the future residential floors contain 14-foot ceilings and large floor plates. The property is located within the South Village Historic District, which means the Landmarks Preservation Commission would have to approve any exterior alterations.

Chelsea Market

Jamestown Converting Basement of Chelsea Market Into Retail Corridor, Chelsea

2:00 pm on May 31, 2016 By Reid Wilson

Jamestown is planning to convert the basement level of Chelsea Market – a 1.2-million-square-foot, multi-use commercial complex located on the block bound by Ninth and Tenth avenues and West 15th and 16th streets, at 75 Ninth Avenue in southern Chelsea – into retail space. The conversion of the basement would double the retail space of the property to 80,000 square feet, according to Crain’s. The basement would be made into a single corridor similar to how the ground floor is currently configured with retailers. The project is expected to take five years. After the retail expansion, and pending an anchor tenant, the owners plan to vertically expand the complex’s office space by roughly 300,000 square feet. The office plans passed the city’s Uniform Land Use Review Procedure (ULURP) in 2012.

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310 Canal Street

Six-Story, Eight-Unit Mixed-Use Redevelopment Filed at 308 Canal Street, TriBeCa

11:00 am on May 27, 2016 By Reid Wilson

Trans World Equities has filed applications to redevelop the two four-story commercial buildings at 308-310 Canal Street, in TriBeCa, into a six-story, eight-unit mixed-use structure. The buildings will get a two-story, 3,554-square-foot vertical expansion. Once complete, the redeveloped building will measure 13,776 square feet. There will be 2,146 square feet of retail space on the ground floor, followed by residential units on the second through sixth floors. The units should average 1,454 square feet apiece, indicative of condominiums, and the top two floors will house two duplex apartments. Paul A. Castrucci’s Lower East Side-based architecture firm is the architect of record. The properties are located within the TriBeCa East Historic District, which means the Landmarks Preservation Commission will have to approve the expansion. Curbed NY reported on the project.

19 East Houston Street

Developers Close on Acquisition of 19 East Houston Street, Site of Approved Six-Story Commercial Project, SoHo

10:00 am on May 27, 2016 By Reid Wilson

Back in October of 2014, developers of the planned six-story, multi-use commercial building at 19 East Houston Street, in SoHo, met with city and community officials and agreed to limit the project’s retail space to under 10,000 square feet, as well as widen the sidewalk. That was after the City Planning Commission already approved the proposal with more retail in August of 2014. Last week, Madison Capital and Vornado Realty Trust closed on the purchase of the triangular, 6,174-square-foot development site for $25.8 million from the New York City Economic Development Corporation (NYCEDC), the Wall Street Journal reports. The latest building permits indicate a 98-foot-tall, 41,267-square-foot building is planned. The commercial space will be broken up between 11,500 square feet of retail space on the cellar through second levels, and 22,751 square feet of boutique office space on the third through sixth floors.

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