Downtown

Request For Proposals Launched For Pier 40’s Design Phase, Hudson Square

2:00 pm on March 9, 2016 By Reid Wilson

Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.

Plans For 452-Unit Rental Conversion Of 26-Story Office Building At 2 Rector Street Abandoned, Financial District

10:00 am on March 9, 2016 By Reid Wilson

During the summer of 2015, Kushner Companies and CIM Group filed plans with the Department of City Planning to convert the 26-story, 466,000-square-foot office building at 2 Rector Street, in the Financial District, into 452 rental apartments. The developers are now abandoning those plans and are in contract to sell the office building to Cove Property Group for roughly $225 million, according to the New York Post. The sale comes three years after Kushner and CIM acquired the property for $140 million. The new owners plan to continue leasing the property to commercial tenants. It was 84 percent occupied in 2015, by multiple tenants.

Less Overhang Paves Way for Landmarks Approval of Mixed-Use Tower at 77 Greenwich Street

8:00 am on March 9, 2016 By Evan Bindelglass

A 35-story mixed-use project in the Financial District can now go forward, thanks to approval from the Landmarks Preservation on Tuesday. The project is at 77 Greenwich Street (a.k.a. 42 Trinity Place) and needed LPC approval because it would cantilever over the Robert and Anne Dickey House, an individual landmark immediately to the south at 67 Greenwich Street (a.k.a. 28-30 Trinity Place). The changes to the design weren’t too dramatic and one of them was described as a “no-brainer” by the LPC chair.

Six-Story, 82-Unit Mixed-Use Building Rises At 438 East 12th Street, East Village

10:00 am on March 8, 2016 By Reid Wilson

Last month, new renderings surfaced of the six-story, 82-unit mixed-use building under development at 438 East 12th Street, in the East Village, and now EV Grieve reports the East 12th Street-facing side of the structure is five stories above street level. The 151,943-square-foot project will eventually grow to reach the corner of East 11th Street and Avenue A. As reported, there will be 8,376 and 961 square feet of ground-floor retail and medical office space, and its 82 condominium units should average 1,315 square feet apiece. The varying unit configurations and amenities are listed in our previous post. Douglas Steiner is the developer, Perkins Eastman affiliate S9 Architecture is the design architect, and Paris Forino is designing the interiors. Completion is expected in 2017.

Reveal For 14-Story, 200-Key Ace Hotel Redevelopment At 255 Bowery, Lower East Side

6:30 am on March 4, 2016 By Reid Wilson

Developers Omnia Group and North Wind Group are working to transform the 10-story, 55,000-square-foot former Salvation Army shelter at 225 Bowery, on the Lower East Side, into a 14-story, 200-key Ace Hotel. Bowery Boogie now has renderings of the project, which would expand the building by four stories. The expansion comes at the expense of a three-story, 8,300-square-foot structure at 223 Bowery, which was demolished this past January. Once the property is redeveloped, the ground floor will host the hotel lobby, a 130-seat restaurant, and retail space. There will also be a bar on the 11th floor, along with a roof terrace and a gym. HAKS is designing and is serving as the architect of record. The building was purchased for a little more than $30 million back in 2014.

World Trade Center Transportation Hub Opens To The Public, Financial District

6:00 am on March 4, 2016 By Reid Wilson

This past January, news broke that the $3.9 billion World Trade Center Transportation Hub in the Financial District would open to the public in early March. Last week, Curbed NY gave you a sneak peek inside the Santiago Calatrava-designed structure, and yesterday, on March 3rd, the hub officially opened. As seen in the photos, only a large chunk of the main concourse is open right now, and the rest of the structure is expected to follow in phases over the next few months. That includes 365,000 square feet of retail space to be managed by Westfield Corp. The Port Authority can now prepare to remove the temporary PATH station entrance near One World Trade Center, site of the planned World Trade Center Performing Arts Center, or PAC WTC. As reported earlier, the new transit hub now serves as the connection point for 11 subway lines, World Trade Center-bound PATH trains, multiple bus lines, and ferry service.

Developers Planning Six-Story, 100-Unit Condo Conversion At 45 Rivington Street, Lower East Side

10:00 am on March 1, 2016 By Reid Wilson

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.

28-Story Hotel, Residential Tower Tops Out At 215 Chrystie Street, Lower East Side

6:00 am on March 1, 2016 By Reid Wilson

In November, the 28-story, mixed-use building under development at 215 Chrystie Street, on the Lower East Side, was at the 16th floor, and now Bowery Boogie reports the tower has topped out. The 245,264-square-foot structure stands 314 feet above the street level and will include hotel and residential portions. The building’s lower portion will sport a 370-key Public Hotel, with retail and restaurant space located on the ground floor. The upper portion will feature 11 condominium units, each averaging a spacious 3,035 square feet. Ian Schrager and Witkoff are the developers with Herzog & de Meuron as the design architect and Handel Architects is the architect of record. Completion is expected later this year.

ULURP Underway For 13-Story, 63-Unit Mixed-Use Project At 255 East Houston Street, Lower East Side

10:00 am on February 29, 2016 By Reid Wilson

Back in August of 2015, YIMBY reported on applications for a 10-story, 53-unit residential building at 255 East Houston Street, on the Lower East Side, but now landlord Samy Mahfar is taking the project through Urban Land Use Review Procedure (ULURP) in order to build commercial-retail space. According to Bowery Boogie, the latest plans call for 13-story building on East Houston and an eight-story counterpart at 171 Suffolk Street. As proposed, the entire project would encompass 93,015 square feet and includes 7,240 square feet of ground-floor retail space. There would be a total of 63 residential units and 20 percent of them would be rented through the affordable housing lottery. Stephen B. Jacobs Group is designing and completion is tentatively scheduled for 2020. An existing four-story building must first be demolished.

First Look At 86-Story, 245-Unit Mixed-Use Supertall Tower At 45 Broad Street, Financial District

6:30 am on February 29, 2016 By Reid Wilson

Last month, news broke that Madison Equities and Pizzarotti-IBC are planning an 86-story, 245-unit residential tower at 45 Broad Street, in the Financial District, and now The Real Deal has the first look at the 1,100-foot building. CetraRuddy is designing the project, and the renderings are being used in EB-5 materials, which means the design is likely preliminary. The developers are seeking to raise $75 million in financing through the program. The first five floors, or roughly 50,000 square feet, will be dedicated to commercial space, and the residential units will come in studio, one-, two-, and three-bedroom configurations. The project’s 20,000 square feet of amenities will include a pool, a fitness center, an outdoor garden, and lounges with entertainment areas. New building applications and a groundbreaking are expected later this year, with completion slated for 2018. AMS Acquisitions is another partner in the project.

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