The City Council has voted to approve the re-zoning of a five-block stretch of Vanderbilt Avenue in Midtown East, per Capital New York. SL Green’s proposed 67-story, 1,501-foot-tall One Vanderbilt is the first building to maneuver the rezoning, and a full-council vote could come as early as the end of May. SL Green is funding $220 million in transportation improvements for Grand Central, and completion is expected in 2020.
190 Bowery is on its way to a rebirth. The building that sits at the corner of Bowery and Spring Street will once again become an office building with ground floor retail, but will keep the graffiti that has accumulated over the years, thanks to approval from the Landmarks Preservation Commission.
In 2013, it was reported that WeWork was in talks for 500,000 square feet at the Brooklyn Navy Yard. YIMBY has now obtained plans for a new mixed-use structure on the site, which would host both a WeWork/WeLive, with the design coming from S9/Perkins Eastman.
Real Estate Weekly watched crews install the first few panels of the glassy curtain wall going in at Manhattan West‘s 450 West 33rd Street, the 16-story, 1.8-million square-foot behemoth located near Penn Station, which Brookfield Properties is renovating top-to-bottom. The transformation is costing $200 million, and this past November, the Wall Street Journal reported that JP Morgan Chase signed a 123,000 square-foot lease for one of the floors. REX Associates is designing, and completion is expected in 2016.
The Real Deal reports that an affiliate of Ruder Finn has acquired the five-story, 34,000 square-foot commercial building at 425 East 53rd Street, in Midtown East, for $30.7 million. The building will be converted to office space to house the firm’s new headquarters, and Spagnolo Gisness & Associates is designing. The currently occupying tenants will vacant the building this summer.