Commercial

SS United States on her sea trials, June 10, 1952. Photo courtesy of Charles Anderson and the SS United States Conservancy

SS United States Won’t Be Converted Into A 400-Suite Luxury Cruse Ship

6:30 am on August 9, 2016 By Reid Wilson

Earlier this year, Crystal Cruises proposed to transform the re-commission 12-deck passenger liner SS United States as a 400-suite luxury cruise ship. Sadly, the ship’s conversion is now being abandoned followed a feasibility study that indicated the project would be too challenging, the New York Times reported. After an inspection of the ship, it was found that roughly 25 percent of the hull would have to be replaced, in addition to new mechanical equipment and engine infrastructure. Also, since Crystal Cruises is owned by a foreign entity, the Jones Act would have made it challenging for the liner to operate as a United States-flagged ship. That means much tougher travel regulations, which is a significant disadvantage in the industry.

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25-30 Columbia Heights

Development Team Acquires 11-Story Watchtower Complex at 25-30 Columbia in Brooklyn Heights, Plans Creative Office Conversion

6:00 am on August 5, 2016 By Reid Wilson

Over the spring, a team of developers entered into contract to acquire, from the Jehovah’s Witnesses, the 11-story, 739,000-square-foot commercial complex known as the Watchtower, at 25-30 Columbia Heights, in Brooklyn Heights. The team – now a joint venture between the Kushner Companies, CIM Group, and LIVWRK – have closed on the purchase for roughly $340 million, Commercial Observer reported. The new owners plan to convert the complex into creative office space, likely similar to how some of the same developers transformed the five-building complex now dubbed DUMBO Heights. The redevelopment is expected to begin within a year. In addition to the acquisition of 25-30 Columbia Heights, the same partnership is remains in contract to buy the vacant, block-encompassing development site at 85 Jay Street, in DUMBO.

17 Laight Street

New Owners Plan Office, Retail Conversion at Six-Story, 115,000-Square-Foot Building, 17 Laight Street, TriBeCa

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

Vanbarton Group is in contract to acquire the six-story, 115,000-square-foot mixed-use building, formerly home to the Tribeca Film Festival, at 13-17 Laight Street, in TriBeCa, for $90 million. The group plans to convert the building into a retail, office, and “lifestyle facility” space, the New York Post reported. Vanbarton is in the process of buying out all of the property’s existing commercial and residential tenants. The 13,867-square-foot lot also comes with 10,530 square feet of air rights, although it’s not known if an expansion is planned.

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43-01 22nd Street

New Owners Plan Partial Office Conversion at Six-Story, 225,000-Square-Foot Industrial Property, 43-01 22nd Street, Long Island City

4:00 pm on August 3, 2016 By Reid Wilson

Back in May, Olmstead Properties and Newmark Holdings entered into contract to purchase the six-story, 225,000-square-foot manufacturing building at 43-01 22nd Street, located on the corners of 43rd and 44th avenues in the heart of Long Island City. The duo have now closed on the purchase for $61 million, Commercial Observer reported. They plan to convert the structure into office space, although roughly two-thirds of the property is currently leased to Reis Studios. The vacant portions are expected to be converted soon, but it’s not known when the currently leased space will get the conversion. Upgrades to the building will include a redesigned lobby, new windows and façade elements, and new mechanical infrastructure such as elevators.

147 11th Street

Two-Story, 5,000-Square-Foot Office-Warehouse Coming to 147 11th Street, Gowanus

3:00 pm on August 2, 2016 By Reid Wilson

Brooklyn-based McMahon Construction has filed applications for a two-story, 5,000-square-foot commercial building at 147 11th Street, in southern Gowanus. The ground floor will host a warehouse, followed by office space on the second floor and an upper penthouse level. Scott Schnall’s Brooklyn-based consulting firm is the applicant of record. The 25-foot-wide, 2,500-square-foot property is currently occupied by a two-story, single-family house. Demolition permits were filed in December. The site is located three blocks from the Fourth Avenue/Ninth Street stop on the F, G, and R trains.

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