Retail


410 West 207th Street

Developers Plan 48,000 Square-Foot Retail Redevelopment At 410 West 207th Street, Inwood

In December, Taconic Investment Partners and Cogswell-Lee Development Group acquired the ground-lease of 410 West 207th Street, in Inwood. According to Commercial Observer, the developers plan to redevelop the property into commercial-retail space. The site is currently occupied by a single-story, 34,000 square-foot vacant supermarket, formerly a Pathmark. The structure will be renovated to accommodate a new 20,000 square-foot supermarket and multiple smaller retailers. In addition, a 14,000 square-foot retail annex will be built on a section of the parking lot. When construction is completed later this year, parking will be reduced from 200 to 120 car spaces. The property can accommodate a 240,000 square-foot residential development with retail space, although plans for such proposal are not finalized. It sits a stone’s throw away from the 207th Street stop on the 1 train.


61-63 Crosby Street

Developer Plans Four-Story Office, Retail Conversion At 61-63 Crosby Street, SoHo

Chicago-based L3 Capital has acquired the four-story, 20,600-square-foot mixed-use property at 61-63 Crosby Street, in SoHo, for $42 million. The new owner plans to convert the building into office space, although the ground-floor will remain as retail space. The co-op building has seven apartments, which will all be vacated before the sale closes, according to The Real Deal. The property comes with 3,300 square feet of air rights, which could be used in an expansion. Any alterations to the buildings will have to be approved by the Landmarks Preservation Commission because they sit within the SoHo-Cast Iron Historic District Extension.


438 East 12th Street

New Renderings Of Six-Story, 82-Unit Mixed-Use Project Underway At 438 East 12th Street, East Village

Last summer, excavation kicked off at 438 East 12th Street, in the East Village, where a six-story, 82-unit mixed-use building is under development by Douglas Steiner. Then in December, the developer secured a $130 million construction loan for the project. The Real Deal now reports the project has received approval from the Attorney General’s office, putting the valuation of the project’s 82 units at $215 million. When completed in 2017, the 151,943 square-foot building will have 8,376 and 961 square feet of ground-floor retail and medical offices, respectively. The units above will average 1,315 square feet apiece, and will come in one- to four-bedroom layouts. The amenities, located on the ground and cellar levels, will include a pool and spa, a gym, a library, and a children’s playroom, as well as courtyard and rooftop gardens. Perkins Eastman affiliate S9 Architecture is the designing architect and Paris Forino is designing the interiors.


71 Schenectady Avenue

Single-Story, 8,700-Square-Foot Retail Building Planned At 71 Schenectady Avenue, Crown Heights

Bawabeh Brothers has filed applications for a single-story, 8,690 square-foot commercial-retail building at 71 Schenectady Avenue, in eastern Crown Heights, located four blocks from the Utica Avenue stop on the A and C trains. The 16-foot-tall structure will replace a vacant 62-foot-wide swath of land, and the leasable retail space will total 4,345 square feet. The retail tenant or tenants will also have access to storage space in the cellar. Brooklyn-based Felix Pustylnik is the applicant of record.


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