Back in February of 2014, a number of developers toured the former Bayview Correctional Facility, an eight-story, 100,000 square-foot complex, at 550 West 20th Street, in West Chelsea, after the city issued a request for proposals just months earlier. Now, Empire State Development has awarded NoVo Foundation a 99-year lease to redevelop the property, according to Commercial Observer. NoVo Foundations and the Goren Group plan to transform the building into the Women’s Building, which will house a women’s rights organization. The project will include community space, art installations, and a restaurant.
Eric Gural has acquired the five-story, 40,000 square-foot former warehouse at 285 North 6th Street, in Williamsburg, for $15.6 million, according to Crain’s. He also purchased the four-story, 70,000 square-foot former industrial building at 10-27 46th Avenue, in Long Island City, for $14.25 million. Both properties are set to undergo office conversions. Work on the Williamsburg property is expected to begin in the coming weeks, and includes a restaurant and roof deck. As for the Queens project, work will begin once the current leases expire late next year.
SL Green’s planned tower next to Grand Central is making significant headway, and demolition for the site’s former buildings is already ongoing. And while we had previously revealed several prospective views of the 1,500-foot supertall, which was approved by the City Council this past May, a tipster has sent along a few more renderings, giving a more comprehensive overview of the tower within the context of its Midtown surrounds.
In late July, YIMBY brought you a construction update on 10 Hudson Yards, the first of Related and Oxford Properties’ planned Hudson Yards towers. Today, the team will celebrate the topping-out of the 52-story, 1.7-million square-foot building, which will stand 905 feet to its pinnacle. Coach, Inc., L’Oréal USA, SAP, and Vayner Media have all leased space, bringing the tower to 85% occupancy. The skyscraper will officially open to tenants in early 2016.
Since New York’s earliest days, church organizations have held a considerable amount of the city’s real estate, which they use not only for direct religious services, but also as a means of generating income. Over the past year, we witnessed the destruction of one of the oldest properties of the kind, as the 119 year old Bancroft Building has been reduced to a pile of red brick rubble.