New office buildings are a rarity in SoHo, because a combination of landmarking and incredibly high property values normally push developers to build condos if they want a return on their investment. But one builder has bucked the trend and filed plans for a seven-story office building at 134 Wooster Street, between Houston and Prince Streets.
After the local community board shot down plans for a 30-unit condo at 111 Leroy Street in the West Village in February, Property Markets Group has scaled down the size of their project between Hudson and Greenwich Streets. The developer filed applications yesterday for a 10-story condo building and five townhouses.
Property owner Alexander Olch is currently converting the former warehouse at 7 Ludlow Street, on the Lower East Side, into a two-story, two-screen movie theater, according to Bowery Boogie. The 8,853 square-foot theater, dubbed the Metrograph, will include a bookshop, a café, a lounge, and a restaurant, DNAinfo reports. Work is now focused on the interior of the structure and opening is currently slated for February 19, 2016. Daniel Margulies’ Garment District-based Margulies Houlzki Architecture is the architect of record.
Cogswell Realty has filed exploratory plans for a 45-unit mixed-use redevelopment of the former Streit’s Matzo Factory, at 148-154 Rivington Street, on the Lower East Side, DNAinfo reports. Plans of the mixed-use project surfaced over the summer, and in October, the developer filed permits to demolish the upper five floors of the six-story structure at 150 Rivington. Filings indicate further demolition work will occur. The redeveloped structure would boast condominium units, a single retail unit, and 26 storage units. Permits have not yet been officially filed with the Department of Buildings.
Earlier this year, YIMBY revealed the initial design for a 10-story, 83-unit mixed-use building at 196 Orchard Street, on the Lower East Side, but now Magnum Real Estate Group and Real Estate Equities Corporation have made changes to the project. The Real Deal reports an 11-story, 94-unit structure is now planned. Ismael Leyva remains the design architect, while Incorporated Architecture & Design is designing the interior. Units will be condominiums, ranging from studios to three-bedrooms, and a 30,000 square-foot Equinox gym will be located on the ground and second floors. Over the last few months, demolition of the site’s low-rise predecessors has wrapped up, and excavation equipment has arrived. Completion is expected in the second half of 2017.
