Savanna and Hong Kong-based Atom Assets have acquired the nine-story, 36,000 square-foot building at 106 West 56th Street, in Midtown between Sixth and Seventh avenues, for an undisclosed amount. Crain’s reports the developers are planning to build a 26-story, 90,000 square-foot boutique office building. Zoning allows for the project to have up to 75,315 square feet of commercial space, and the building’s office floors will range from 5,000 to 2,000 square feet each. Perkins Eastman will be responsible for the design. The property’s current tenant has a year to vacate from the site, although demolition permits were already filed this past January to raze the building. Completion is tentatively expected in 2019.
The controversial redevelopment of Bushwick’s Rheingold Brewery has attracted plenty of press in recent months, but the another huge brewery complex across the street is about to get a new lease on life. A group of investors paid $33.7 million for the former Schlitz bottling plant at 95 Evergreen Avenue in January, and now they’ve released renderings of its future as offices and retail.