NYC New Developments

70 Vestry Slated to be a Total Sellout Mammoth at $700 Million

Thursday, 03 Mar 2016 10:35 AM
268 West Street Tribeca development

Related Companies' 70 Vestry Street condo-offering plan has just been recently approved, expecting a sellout volume of $700 million, according to theRealDeal. The 47 apartments will fetch an average price of a whopping $14 million apiece.

107 West 57th Street Rises Even Higher

Friday, 29 Mar 2013 02:56 PM
107 West 57th Street NYC

The JDS Development Group, in partnership with Property Markets Group, originally planned and filed for a 679-foot, 51-story building at 107 West 57th Street. Now it looks like plans have changed. Earlier this week, the partnership bought Steinway Hall at 109 West 57th Street, and it seems that purchase was primarily for the air rights.

432 Park Avenue Hits the Market!

Wednesday, 20 Mar 2013 02:18 PM
432 PARK AVENUE nyc building

The tallest residential building in the western hemisphere, set for completion in 2015, is hitting the market with record-breaking prices. The 126 new apartments will rake in a combined $2.7 billion—a sum that has never been reached before. This amounts to an average of $6,742 per square foot. It is the third time 432 Park Avenue has increased its price forecast; the last prediction was set at $5,941 per square foot.

35XV at 35 West 15th Street Design Unveiled

Monday, 18 Mar 2013 06:16 PM
35XV at 35 West 15th rendering

Major New York-based real estate owner and developer Alchemy Properties has finally unveiled the rendering design of 35XV, located (as the name would suggest) at 35 West 15th Street in the Flatiron District. The project, which was announced in 2008, hasn’t had an easy history. Neighbors, especially from the nearby condo building at 16 West 16th Street, have complained about the plan. Things calmed down, however, and the good news is that Alchemy is proceeding.

56 Leonard Backed By a $350M Loan

Sunday, 13 Jan 2013 11:36 PM
56 Leonard Street construction

The nearly 4-year delayed construction at 56 Leonard Street in Tribeca has been backed by a $350 million loan. Seven banks, led by Bank of America, granted the loan. The developer, Alexico Group, purchased the site from New York Law School for $135.5 million and set the foundations of the building three years ago.

Toll Brothers Buy Midtown East Site for $64M

Wednesday, 09 Jan 2013 05:58 PM
953-961 First Avenue site bought by Toll Brothers

Development of the 150,000-square-foot site at 953-961 First Avenue has been on and off for many years, but as one of the most prolific contractor/development company in USA., The Toll Brothers, have done just what you'd expect. It’s been some while since we heard any news about the seemingly deserted site but The Toll Brothers has affirmed that the best property investment in the market is in NYC. They have decided to grab the site for a proud sum of $64 million.

Luxury Building 250 East 57th Street Set To Rise

Sunday, 06 Jan 2013 10:18 AM
250 East 57th Street Rendering 3

Get a taste of NYC luxury living and keep an eye on 57th Street in Manhattan, as it becomes increasingly evident of its becoming Manhattan’s most exclusive street in New York. For those who are considering this side of the city, keep your eyes and ears open.

Hudson Yards Breaks Ground

Tuesday, 04 Dec 2012 11:21 PM
Groundbreaking on Hudson Yards in New York City

The future of New York has broken ground on the largest undeveloped property in Manhattan, Hudson Yards. Once a railroad storage yard, the $15 billion project on Manhattan’s West side is now America’s largest and densest site for real-estate development. Mayor Michael Bloomberg called it one of the largest private developments ever undertaken in the United States. Related Companies, the lucky developer of this gigantic 26-acre site, is responsible for the site’s 13.3 million square feet of upcoming office, residential, and retail space.

Extell Files Permit for 88-Story 217 West 57th Street

Tuesday, 27 Nov 2012 02:40 PM
Extell's new project - 217 West 57th Street

Gary Barnett’s Extell Development plans to build an 88-story building with 233 residential units at 217 West 57th Street — just a block away from Extell’s current construction site of One57.

Adamson Associates (AAI) Architects is listed as the architect on the permit application. Among the firm’s current projects are three World Trade Center towers, Port Authority Bus Terminal overhaul, One Bryant Park, Times Square Building, Hearst Tower, MOMA Tower and the Goldman Sachs Global Headquarters.

Guess Who is Back: 56 Leonard Street

Monday, 15 Oct 2012 05:50 PM
56 Leonard Street

The financial crisis that destroyed anything and everything in its path included 56 Leonard Street. The result was a delay of nearly 4 years with the foundation having been set three years ago and with no work being done since. The wait is over and the construction work is expected to begin next week on the innovatively designed building. Being developed by Alexico and designed by Herzog & de Meuron, the building endured a good amount of criticism.

Next Step Accomplished: City Council Approves SPURA

Friday, 12 Oct 2012 06:36 PM
seward park urban renewal area spura

It almost feels surreal to keep reporting positive news about SPURA, after five decades of discussions, negotiations and disagreements. The City Council has approved the redevelopment plan for the area in Manhattan’s Lower East Side totaling a span of 1.65 million square feet. Next, the city will call on developers for proposals. The best proposal will be selected by the city with help of the community board.

Manhattans Avenue D Gets Another Luxury Rental Building

Monday, 17 Sep 2012 07:23 PM
Rash LLC's Avenue D New Construction

Arabella 101 in Manhattan's East Village was the first luxury rental building constructed on Avenue D, despite its rather negative reputation as an unsafe area. The Local reports that the developer Rash LCC has purchased four adjacent lots at the corner of Avenue D and East Fifth Street for $3.6 million in order to build a new luxury rental building with studios as well as 1, 2, and 3 bedroom apartments.

The Pyramid at 625 West 57th Doesn’t Seek For LEED

Thursday, 06 Sep 2012 05:44 PM
The Pyramid at 625 West 57th Streets Does Not Seek For LEED

The magical 750-unit “Pyramid” development project at 625 West 57th Street, designed by Danish architect Bjarke Ingels, will not stick to the LEED checklist and possibly not receive a proper certification. The developer, The Durst Organization wants to be more innovative and employ its own environmental criteria, according to The Wall Street Journal.

SPURA Plan approved by City Planning Commission

Wednesday, 22 Aug 2012 01:22 PM
SPURA Seward Park approved by City Planning Commission

It’s official; the City Planning Commission approved the re-development of the Seward Park Urban Renewal Area (SPURA) this morning. SPURA is the largest tract of undeveloped New York City-owned land in Manhattan south of 96th Street. The decision was unanimous and the next step for the development is for the City Council to approve the land use plan. Once the City Council approves the plan, the bidding from developers will begin. The best proposal will be selected by the city with help of the competent community board.

Plan for Seward Park approved by Community Board

Monday, 20 Aug 2012 12:18 PM
Seward Park Urban Renewal Area SPURA

The re-development of the Seward Park Urban Renewal Area (SPURA) is finally headed to its next stage. Community boards and city officials formed an agreement after nearly five exhausting decades of discussions, negotiations and disagreements. The area in Manhattan's Lower East Side spans 1.65 million square feet. It is supposed to be used for 900 housing units and nearly 1 million square feet of commercial space. The most controversy came from the issue of the ratio of affordable housing to market price housing.