Commercial


341 39th Street

Commercial-Office Conversion Planned for 10- And Seven-Story Industrial Buildings at 341-353 39th Street, Greenwood Heights

Madison Realty Capital has acquired the 10-story, 130,000-square-foot industrial building at 341 39th Street and the neighboring seven-story, 30,000-square-foot industrial property at 353 39th Street, in southern Greenwood Heights (on the border of Sunset Park), with plans to convert the structures into modern office and manufacturing space. The properties traded for $37.5 million, Crain’s reports. The currently vacant buildings would get new lobbies, windows, mechanical equipment such as elevators, amenities, and outdoor space (presumably on the roof). Between the buildings, the floor plates will range from 4,000 square feet to 13,000 square feet. The 36th Street stop on the D, N, and R trains is three blocks to the north. The duo was placed on the market last year with an asking price of nearly $50 million.


28-07 Jackson Avenue

Reveal for Two-Tower, 1.1-Million-Square-Foot Office Complex at 28-07 Jackson Avenue, Long Island City

A rendering has been revealed of Tishman Speyer’s planned two-tower, 1.1-million-square-foot office complex at 28-07 Jackson Avenue (a.k.a. 28-10 Queens Plaza South), in the Queens Plaza section of Long Island City. The towers – dubbed One and Three Gotham Center – will stand 27 stories, or 396 feet, in height. As YIMBY reported in June, new building applications indicate a common four-story base will include roughly 30,000 square feet of retail space, restaurants, a food hall, and a parking garage for cars and bikes. The rendering also depicts an outdoor terrace on the fifth floor. 800,000 square feet of office space in the complex has already been pre-leased. One tenant includes WeWork, which is set to take 250,000 square feet. Another is Bloomingdale’s, which has reserved 550,000 square feet of office space, Crain’s reported. Doha-based Qatari Diar is co-developing the project, while Financial District-based MdeAS Architects is designing. Excavation is expected to begin in early 2017, with completion scheduled for 2019. One and Three Gotham Center will join the 22-story, 700,000-square-foot Two Gotham Center located immediately to the north. Tishman Speyer developed that in 2011.


550 West 20th Street

Architect Selected for Mixed-Use Conversion of Former Bayview Correctional Facility at 550 West 20th Street, West Chelsea

Deborah Berke Partners has been selected, through a competition, to design the mixed-use conversion of the eight-story, 100,000-square-foot former Bayview Correctional Facility at 550 West 20th Street, on the corner of the West Side Highway in West Chelsea. The competition included over 43 entrants, Curbed NY reported. Last October, Empire State Development (ESD) awarded NoVo Foundation and the Goren Group a 99-year lease of the property, to transform it into community facility and commercial space. Dubbed the Women’s Building, it will house a women’s rights organization, community space, an art gallery, and a restaurant. A construction timeline has not been released. The facility was evacuated in preparation of Hurricane Sandy in October of 2012. Inmates were never transported back to the location due to storm damage and budgetary constraints.



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