Retail

Hilton Grand Vacation Hotel Tops Out at 12 East 48th Street in Midtown

Construction on the Hilton Grand Vacation Hotel has topped out at 12 East 48th Street. The 31-story project is being designed by Handel Architects and developed by Hidrock Realty. There will be a total of 161 rooms, an outdoor terrace, and ground-floor retail space. The site was part of a $47 million purchase several years ago. A reinforced concrete structure makes up the frame of the building, which will be clad with white metallic panels.

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Rendering of 141 East Houston Street

$90M Office Building to Replace Sunshine Cinema on Lower East Side

Sunshine Cinema in the Lower East Side will soon be demolished to make room for a nine-story office building. Developers East End Capital and K Property Group have secured some $90 million in financing to fulfill their proposal at 141 East Houston Street. According to Crain’s Business, the development partners obtained a $67 million construction loan from CapitalSource and $19 million of mezzanine financing from Canyon Partners.

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City Unveils Massive Rezoning Initiative to Spur Development in Gowanus, Brooklyn

Extensive rezoning proposals from New York City’s Department of City Planning could spur a dramatic uptick in development along the shores of Gowanus, Brooklyn. Known among city agencies as the “Gowanus Neighborhood Plan,” the initiative is designed to facilitate the construction of residential and commercial properties, to encourage population increase, and to help create new job opportunities for local residents.

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5Pointz Site’s Residential Towers Nearly Complete at 22-44 Jackson Avenue in Long Island City

A new pair of residential towers at 22-44 Jackson Avenue is rising from the former home of the colorfully eye-catching street art space, 5Pointz warehouse. The buildings are topped out over Long Island City, Queens and are making their mark on the neighborhood’s growing skyline. The elevated 7 train curves around the construction site toward the Court Square station, just across the street from the massive 1,115-unit development. The complex is being designed by HTO Architects while G&M Realty is the developer. Mojo Stumer Associates is in charge of the interior design, which will feature a 5Pointz homage, a graffiti-style logo, and similar artwork around the interiors.

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