Top 10 Real Estate Projects Coming to NYC
As the final expiration of the 421a tax abatement slowed last year’s torrent of new building activity to a relative trickle, January proved a disappointing month for new development activity.
Just three of last month’s projects cleared the 100,000-square–foot hurdle, and most weren’t even close. Modestresidential buildings dominated the rankings, with all the boroughsnearly equal/y represented (Staten Island excepted).
1. 280 Cadman Plaza West, Brooklyn
David Kramer’s Hudson Companies finally made it official, filinga permit application for its planned 36- story,294,773-square-foot condominium and rental building at the site of the Brooklyn Heightsbranch of the Brooklyn Public Library. The developer plans to build 134 condosand 114 affordable rental units at the site, also known as 1 Clinton Street.
The plans also call for a new 26,620-square-foot library branchto occupy parts of the building’s lower floors, as well as 931 square feet of retail space.
2. 1185 Broadway, Manhattan
Hotelier Paul Kanavos is planning a 146-key hotel in NoMad, on thecorner of Broadway and West 28th Street. The structure will stand 40 storiesand encompass 164,389-square-feet of space, 11,190 square feet of which areearmarked for commercial use. Kanavos’ Flag Luxury Properties bought the site – along with the adjacent plot at 29West 28th Street – back in February of last year, paying $100 million tocommercial investor Clark Wile & Mayer.
3. 70-40 45th Avenue, Queens
Henry Lam’s King’s USA Group filed a permit application for a10-story, 108,441-square-foot residential building in Elmhurst, just off QueensBoulevard. The Flushing-based developer is planning 94 apartments across 87,734squarefeet of residential space, plus an additional 10,875 square feet ofretail and 9,800 square feet for communities fac ilities. Lam assembled in thesite in July and August of 2015, paying $13.5 million in total.
4. 2500 Jerome Avenue, Bronx
The St. James Episcopal Church filed an application to build a12-story affordable rental building on part of its Fordham property. Theplanned 87,724-square-foot building will hold 91 apartments, and will have a4,800-square-foot community facility on its ground floor. The actual developeron the project is unknown, but SLCE Architects is handling the design.
5. 134-31 Marrick Boulevard, Queens
White Plains-based developer Mike Humphrey is planning afour-story, 69,990-square-foot storage facility in St. Albans. The permitapplication calls for accessory office space on the first floor, as well as sixloading berths. Virginia-basedButz Wilber is architect of record. The site iscurrently home to an auto wrecking yard, as well as a handful of warehouses.
6. 305 West 128th Street, Manhattan
The Fane Organization, led by Jason and Daria Fane, filed apermit application for a pair of 10-story residential buildings in Harlem.between St. Nicholas Avenue and Frederick Douglass Boulevard. The two buildings- which will be linked by a common cellar – will contain 57 apartments betweentotal, in a combined 53,074-square-feet of space. Kutnicki Bernstein is thearchitect of record.
7. 540 West 25th Street, Manhattan
The Pace Gallery in Chelsea, working with Weinberg Properties,filed a permit application to redevelop its main building, with plans to buildto build a 48,761-square-foot new building at the site, between 10th and 11thavenues. The eight-story structure will house a combination galleries, officesand event spaces. Bonetti/Kozerski Studio will be responsible for thebuilding’s design.
8. 82 Brown Place, Bronx
Cedarhurst-based developer Amritpal Sandhu is planning a12-story, 47,468-square-foot hotel between Bruckner Boulevard and the HarlemRiver freight yards in the South Bronx. Jamaica-based Akson Architects isdesigned the building – to be known as the Mott Haven Hotel, according to NewYork YIMBY-which will contain 133 rooms.
9. 848 Lorimer Street, Brooklyn
Dean Marchi’s Grand Street Development is planning a six-story, 36,270-square-footresidential buildingalong McCarrenPark in Greenpoint, between Nassau and Driggs avenues. The SternArchitects-designed building will contain 49 apartments, along with amenitiessuch as a pet spa, bike storage, a gym and a lounge. Grand Street bought thebuilding last year, along with partners, valuing it at $16 million, according toa lawsuit filed against Marchi by Douglas Elliman, that accused
10. 48 Somers Street, Brooklyn
Jamaica-based developer Haim Levy is planning a seven-s tory,34,136-square-foot residential, retail and commercial facility building betweenRockaway Avenue and Mother Gaston Boulevard. It will house 24 apartments in23,967 square feet of residential space, plus 5,000 square feet of retail and5,2000 square feet for a community facility. Levy paid $2.1 million for thesite last May. Briarwood based Gerald Caliendo is the architect of record.
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