Work on the conversion of a former manufacturing building not far from the DUMBO waterfront is humming along quite nicely. Yesterday, YIMBY got a hardhat tour of the work underway at 51 Jay Street.
Slate Property Group
In November of 2014, the former 206-bed nursing home for AIDS patients (dubbed Rivington House) located at 45 Rivington Street, on the Lower East Side, closed its operations. Last year, there were reports that The Allure Group would turn the five-story, 150,000-square-foot building into a nursing home that would be available to all seniors, but now a team of developers has acquired the property for $116 million, according to The Real Deal. The team includes the U.S. branch of China Vanke Co., Slate Property Group, and Adam America Real Estate, and they plan to convert the building into roughly 100 condominium units. A completion date has not been disclosed.
The city’s Economic Development Corporation held a press conference today to announce plans for the block-long and century-old Bedford Union Armory at 1555 Bedford Avenue in Crown Heights, which will get 13 stories of rental apartments, a recreation center, community event space and commercial space.
Last week, Brownstoner brought us a construction update on the seven-story, 74-unit residential redevelopment at 51 Jay Street, in DUMBO, and now YIMBY can announce the expansion project has officially topped out. Its residential units average 1,815 square feet apiece and have commanded one of the highest price per-square-foot figures in the neighborhood, selling at $2,083 per-square-foot. The building is nearly 75 percent sold, as reported earlier, and move-ins are expected sometime next summer or fall. Residents will have a slew of amenities available to them, and 1,333 square feet of retail space is planned on the ground floor. Slate Property Group and Adam America Real Estate are the developers, while ODA Architecture designed the project.
The residential redevelopment of the former three-story, 81,805 square-foot manufacturing building at 51 Jay Street, in Dumbo, has topped out, according to Brownstoner. The structure has been transformed into a seven-story building and now measures 135,658 square feet. Seventy-four condominiums units will spread across the majority of the building, measuring an average 1,815 square feet apiece, and 1,333 square feet of ground-floor retail is planned. The project includes six separate penthouses and is currently 75 percent sold with move-ins expected in mid-2016. Slate Property Group is developing is ODA Architecture is the design architect.