Slate Property Group and Avenue Realty Capital have partnered to acquire 81 Franklin Street, a six-story residential building in Tribeca, Manhattan. The $30 million transaction adds 32,700 square feet to the firms’ growing New York City portfolios. The property is located between Broadway and Church Street.
Governor Kathy Hochul, Mayor Eric Adams, and New York City Comptroller Brad Lander have announced a new agreement between the Battery Park City Authority (BPCA) and Brookfield Properties to modify and extend the ground lease for Brookfield Place, a 9.4 million-square-foot office and retail complex located at 300 Vesey Street in Manhattan’s Financial District. The revised lease, now extended from 2069 to 2119, will secure higher ground rent payments and is projected to generate $1.5 billion in value for New York City and the Joint Purpose Fund, which supports affordable housing development.
Construction is wrapping up on 3 St. Mark’s Place, a nine-story commercial building in Manhattan’s East Village. Designed by Morris Adjmi Architects and developed by Real Estate Equities Corporation, the structure will yield 53,000 square feet of office space, 7,800 square feet of ground-floor retail space, a cellar level, and three wraparound terraces on the fifth, sixth, and ninth stories. The property is alternately addressed as 23-25 Third Avenue and is located at the corner of Third Avenue and St. Mark’s Place.
The New York City Landmarks Preservation Commission (LPC) is set to review a new proposal for renovations at 460 West Broadway, a five-story, ten-unit residential building in Soho, Manhattan. The project, prepared by DYO Design Office, outlines plans for a roof addition and interior renovations within one of the property’s units. The building was constructed in 1900 and is located between West Houston and Prince Streets.
Construction has topped out on 289 Hudson Street, a seven-story residential building in Hudson Square, Manhattan. Designed by SRA Architecture + Engineering and developed by Ponte Equities, the 73-foot-tall structure will span 14,829 square feet and yield 15 rental units with an average scope of 688 square feet. There will also be 1,710 square feet of commercial space and a cellar level. The property is located at the corner of Hudson and Spring Streets, directly across from the recently completed Disney headquarters at Four Hudson Square.
