Back in June of 2014, YIMBY revealed renderings of the planned 28-story mixed-use building at 577 Ninth Avenue (a.k.a. 400 West 42nd Street), located between West 41st and 42nd streets, on the southern end of Hell’s Kitchen. Construction has since kicked off at the site and the building is now 14 stories above street level, as seen in a photos posted to the YIMBY Forums. New details on the project have also been disclosed by The Real Deal. Once complete, the 218,872-square-foot building, dubbed Pod Times Square, will feature a 665-key hotel, 48 residential units, and 25,000 square feet of retail space across the cellar through second floors. The building will be operated by BD Hotels under the Pod Hotels brand. The apartments will be rented fully furnished by the hotel as Pod Pads. The one- and two-bedroom apartments will be located on the 23rd through 27th floors and will measure between 400 and 800 square feet apiece. Guest amenities include storage for 52 bikes, a lounge, private storage rooms, a fitness center, laundry facilities, and an indoor/outdoor recreational area on the 28th floor. Friedman Group and Landis Group are the developers, while SLCE Architects is the architect of record. Completion is expected in 2017.
In September of 2014, YIMBY reported on applications for a 10-story, 133-key hotel planned at 38-42 11th Street, in the Ravenswood section of Long Island City, located four blocks from the 21st Street-Queensbridge stop on the F train. Now, a rendering of the project has been revealed in a report by The Real Deal. The latest building permits indicate the hotel, which will be an extended-stay one by Marriott’s TownePlace Suites, will encompass 69,045 square feet. If the project’s 50,457 square feet of commercial space is exclusively representative of the hotel units, individual rooms should average a relatively spacious 379 square feet apiece. Guest amenities include a fitness center, laundry facilities, a lounge and breakfast area, a garden area behind the building, a bar, a rooftop terrace, a 21-car garage on the ground floor, and storage for five bikes. Midtown Properties is the developer and Think! Architecture and Design is behind the architecture. Foundation work is reportedly underway at the site, and completion is scheduled before 2017.
This morning, we had hotel news for you. Now, we have more. In April, Lightstone Group acquired, for $127 million, a six-building, 181-unit residential portfolio for that comprises of 112-120 East 11th Street and 85 East 10th Street, in the East Village. The developer is currently planning to build a 85,000-square-foot, roughly 300-key boutique hotel at 112-120 East 11th Street, according to The Real Deal. Marriott International’s MOXY Hotels will be the operator. The five-story buildings at 112-120 East 11th Street currently contain 75 residential units across five buildings and are expected to be demolished. The other six-story, 106-unit building at 85 East 10th Street will remain and is expected to be sold off. The April acquisition was financed with an $85 million loan. The five apartment buildings at 112-120 East 11th Street represented $52.1 million, while the six story property at 85 East 10th Street traded for $75.4 million.
In April, news broke that Istanbul-based Gulaylar Group entered into contract to acquire the entire 90,000-square-foot office portion of the 20-story, 115,000-square-foot multi-use commercial building at 685 Fifth Avenue, on the corner of East 54th Street in Midtown. The deal includes the development rights to vertically expand the building by five stories. Those air rights were made available after property owners General Growth Properties and Thor Equities repositioned the building’s three stories of retail space, which now measures 23,400 square feet and is being made into Coach’s flagship store. Now, Gulaylar has disclosed plans to convert the office portion they are buying, along with the future expansion, into a 90-key boutique hotel, The Real Deal Reports. Five hotel chains, including Oetker Collection, AccorHotels, and LVMH’s Cheval Blanc, are currently in negotiations with the developer. The building’s remaining office tenant is moving out in August. Walter Marin’s Midtown-based Marin Architects is the architect of record for the expansion.
Back in 2014, Diversified Realty Advisors and California-based SunCal closed on the purchase, for $39.5 million, of the 70-acre former General Motors factory site in Sleepy Hollow, located just north of the Tappan Zee Bridge in Westchester County. Now, the developers have held a groundbreaking ceremony for their mixed-use mega-development called Edge-on-Hudson, Westfair reports. The project will include 1,177 residential units (a mix of condos, townhouses, and rentals), a 140-key boutique hotel, 135,000 square feet of retail and restaurant space, and 30,000 square feet of office space. Some of the units will rent at below-market rates to seniors and lower-income families. Sixteen acres will be made into parkland and a riverfront promenade.