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It’s been over a year since updates have been revealed regarding 15 East 30th Street, the 750-foot condo tower under construction between Fifth and Madison avenues in NoMad. But new developments have been released with a new fresh rendering of the building, which was posted on the construction fence yesterday. The latest building permits show that the tower will reach exactly 756 feet into the air, putting it in the ranks of Carnegie Hall Tower (757 feet) and City Spire Center (814 feet). The structure will eventually top out at 51 stories and span 360,000 square feet. 180 apartments will fill 295,970 square feet of residential space, for an average unit of 1,644 square feet. The ground floor will host 7,500 square feet of retail, divided... View Article

Michael Kirchmann’s GDS Development is working to convert two SoHo buildings – five-story 25 Mercer Street and three-story 27 Mercer Street – into one condo project, dubbed 25 Mercer. Before residents move in, some of the spaces got a bit of an artistic touch. Rendering of the front of 25 Mercer. Credit: GDSNY The first artist to get to work was Shantell Martin, who contributed two works to the space – a hard line pen drawing over the fourth floor elevator doors (seen above) and a spray paint installation along the ceilings, walls, and floors. Some of her work actually remains intact under the new finishing as part of the foundation of the building. Shantell Martin at work. Credit: Roy Rochlin Shantell Martin... View Article

Back in June of 2015, YIMBY revealed initial renderings of the 52-story, 141-unit residential tower planned at 281 Fifth Avenue, located at the corner of East 30th Street in NoMad. Although the latest filings still describe the same building, Curbed NY now has a new partial rendering depicting the façade of a 55-story, 130-unit tower on the corner site. The latest diagrams indicate the the 266,963-square-foot tower will rise 728 feet above street level. It will contain 7,927 square feet of retail space across the cellar, ground, and second floors, followed by residential amenities on the third through seventh floors. The residential units above will be condominiums, averaging 1,611 square feet apiece. The amenities include storage for 72 bikes in the cellar, a fitness center, a spa, an... View Article

This year, applications were filed to demolish the former Streit’s Matzo Factory. The developer wants to build a seven-story, 45-unit mixed-use building with 10,219 square feet of ground and cellar-level retail space from the remnants, at 148-154 Rivington Street, on the Lower East Side. Renderings of the project have now been revealed by the New York Times, which can also report that apartments will be condominiums with one- and two-bedroom configurations. The amount of retail space has also been increased to 13,000 square feet. Cogswell Lee Development (the development arm of Cogswell Realty) is the developer, and GLUCK+ is behind the design. Demolition of the factory is expected to commence in the coming weeks. Pre-demolition 148-154 Rivington Street, photo by Joshua Bright for The New York Times

New York Yimby Reports In the summer of 2015, plans to build a new LaGuardia Airport were revealed along with other transportation infrastructure, including a 24-hour ferry service and an AirTrain, that would serve to link the East Elmhurst airport to the rest of the city. The Port Authority of New York & New Jersey (PANYNJ) has officially approved the project, which was recently estimated to cost upwards of $5.3 billion, Crain’s reported. As part of the deal to approve the project, the Port Authority agreed that it redevelop the Port Authority Bus Terminal in Manhattan, shooting down any chance that it would be rebuilt for much cheaper in New Jersey. As for the airport, the Central Terminal Building is phase one of the greater redevelopment... View Article

In 2015, Kushner Companies, LIVWRK, and Rockpoint Group acquired, for $275 million, the seven-story, 338-unit rental apartment building at 184 Kent Avenue, in northern Williamsburg, with the intention to convert the property into condominium units. The conversion project, dubbed Austin Nichols House, will include 338 condominium units, and now Curbed NY has the latest details. They will come in studios, one-, two-, and three-bedroom configurations, and the existing rentals are currently being converted on a unit-to-unit basis. Morris Adjmi Architects is designing the conversion, which includes a revamped lobby, new amenity spaces, and, of course, the apartments. The ground-floor is currently occupied by multiple retail units. The property was used as a warehouse before it was converted into residential space in... View Article

Last year, it was reported that New York City’s population had increased by 52,700 people between 2013 and 2014, hitting 8,491,079, and nearing what the city had previously projected for 2020. Today, the American Community Survey released updated data as of July 1, 2015, showing another large increase of 55,211, putting the five boroughs’ population at 8,550,405 – just 502 people short of the official 2020 projection. The continued gains are unsurprising considering the general trends across much of the United States since the recession, which have been pushing numbers across most cities substantially higher. New York City also suffered from what many believe to have been an undercount as of the 2010 Census, which left additional room for numbers to catch up with... View Article

Earlier this month, news broke that Gov. Andrew Cuomo was moving forward with plans to upgrade Pennsylvania Station, between West 31st and 33rd streets on Eighth Avenue in Midtown, and now the state has issued a Request For Proposals (RFR) for the project, dubbed the Empire Station Complex. According to Curbed NY, the document highlights plans to build a main entrance on Eight Avenue, which would entail demolishing the Theater at MSG. In addition, it would connect the station to the proposed new tracks of the Gateway Project, which includes new tunnels under the Hudson River and Amtrak’s expansion into Moynihan Train Hall (the Farley Post Office) and the connecting concourse, along with other upgrades. The renderings were created by Skidmore,... View Article

In March of 2015, YIMBY reported on filings for a 23-story, 108-unit mixed-use tower at 1399 Park Avenue, between East 103rd and 104th street in East Harlem. Initially, Heritage Real Estate Partners planned a rental building, but the project will now have 72 condominiums, according to The Real Deal. Since there will be 93,850 square feet of residential space, units will average 1,303 square feet apiece. The 134,000 square-foot development will also have 20,198 square feet of non-profit community facility space on the ground through fourth floors. Goldstein, Hill & West Architects is the architect of record. For more, check out our friends at Yimby.

Last month, the City Council greenlighted the controversial plan to sell and redevelop the Brooklyn Heights Library into condos and a new library. Now the project has moved one step closer to reality, because Hudson Companies has filed building applications for a 36-story tower at 1 Clinton Street. The Brooklyn Public Library system will make $52 million off the sale of the old Brooklyn Heights branch, a 54-year-old structure that was originally designed to house both a library and a fall-out shelter. Officials claim that money will go toward fixing aging library branches throughout the borough, which supposedly need at least $100 million in repairs. The new building will reach 409 feet into the air and span 294,773 square feet. The library will fill 17,180... View Article

City tax assessors confirmed what everyone more or less knew: prices have shot up over the last year. The total market value of taxable property crossed the $1 trillion threshold for the fiscal year beginning July 1, a 10.6 percent jump from the previous year. That increase is the largest since the last year of the pre-crisis boom, the year ending in June 2008, the Wall Street Journal reported. Average condo tax assessments rose the fastest among unit types, increasing by 10.7 percent to $9,302. Average taxes on co-ops rose by 6.5 percent to $6,837. Brooklyn saw by far the largest spike in market values, with a whopping 16 percent increase year-over-year. Queens values climbed by 9.9 percent while Manhattan,... View Article

QUEENS — A new seven-story condo, currently under construction in Forest Hills, will feature nearly two dozen apartment units as well as retail space on the ground floor, according to city documents. The condo at 109-15 72nd Road between Queens Boulevard and Austin Street, near the popular French bakery La Boulangerie, will offer 23 units including several one-bedroom, two-bedroom, and three-bedroom apartments, according to Tan Architect, which has designed the building. The condo will also provide 12 parking spaces, a representative for Tan Architect said Monday. According to information posted at the construction site, the building is slated to be completed in the fall this year. For more: DNAInfo.com

Related Companies closed on a Far West Side McDonald’s for $152.3 million, a deal that allows the developer to build a 62-story tower at 50 Hudson Yards. The developer is planning to tear down the fast-food restaurant, which is located at 427 Tenth Avenue on the corner of 34 Street in the heart of its Hudson Yards district, although no demolition permits have officially been filed yet. The properties in the assemblage include 413 Tenth Avenue and 507 West 33rd Street, and the corner lot McDonald’s lot was the final parcel the developer needed to build a mixed-use project that could reportedly span up to 3.3 million square feet. The deal was first reported by Crain’s in October, but the... View Article

The latest look at a new West Village condominium designed by Herzog & de Meuron shows sweeping views of downtown Manhattan, a swimming pool and a ground-floor courtyard. The building, located at 160 Leroy Street, is being developed by Ian Schrager and is designed by the Swiss architecture firm. The team recently released shiny new renderings of the project that show rooms with high ceilings and fireplaces. Prices for units in the building range from $2.6 million for a one-bedroom to $25 million for a three-bedroom, Curbed reported. Here’s a quick tour of the future interior and exterior of the building: Rendering of living room at 160 Leroy Rendering of courtyard at 160 Leroy Rendering of kitchen at 160 Leroy Construction of 160 Leroy is... View Article

The scarcity of inventory continues to drive up prices in Brooklyn — and don’t expect it to stop anytime soon. The borough saw the second highest average sales prices on record in the fourth quarter of 2015, at $808,121, down from $856,839 in the previous quarter, according to Douglas Elliman’s latest quarterly sales report. Meanwhile, inventory dropped 6.5 percent year-over-year. “Inventory crunch is still such a predominant factor,” said Sarah Burke, senior manager of Brooklyn sales at Elliman. “By 2017, there’s going to be a little more inventory to accommodate the demand.” The median sales price rose 11.1 percent year-over-year to $650,000. “What’s fueling this is a robust economy, job growth and Brooklyn’s own success in rebranding itself over the... View Article

Anyone with a rudimentary understanding of New York City real estate knows that even the most “average” apartments in TV shows and movies are tremendously unrealistic. But just how unbelievable is it to think Carrie Bradshaw or the Friends crew could afford primo pads in the heart of the West Village? To find out, I enlisted the expertise of Kane Manera, an in-the-know luxury property agent at New York’s Douglas Elliman Real Estate (and, incidentally, a former Guiding Light star himself), to weigh in on the real-world current value of New York City’s most famous fictional homes. The truth hurts sometimes.   Big $2.3 million 85 Grand Street, SoHo The building: According to Streeteasy, this building was one of the... View Article

If you think New York is starting to feel like a massive construction site, you’re not crazy. The city could be facing the biggest building boom in a generation, the Wall Street Journal reported. And the trend is showing no sign of slowing. During the first half of the year, 42,088 residential building permits were approved for apartment and houses in the city, the most since 1963, according to U.S. Census Bureau data cited by the newspaper. The approved projects follow an increase in permit applications that were rushed through before June 15, the official expiration of the 421a tax abatement program. “This is an astounding figure, so far ahead of anything the city has experienced in 50 years,” said Richard... View Article

Timing Is Everything The reality of buying new construction in New York City is that if you wait until the construction is complete, they may be already sold out. New construction condo developments in Manhattan have waiting lists before preconstruction sales even open. The reason is two-fold: the inventory for new construction condos is very limited and the preconstruction opportunities in market value of new construction condos. Developers are once again offering buyers the opportunity to “lock in” at today’s prices months or years before units are planned for delivery. The Offering Plan is the Law of the Land The offering plan sets out the developer’s obligations regarding the size and construction of the condos and amenities to be delivered.... View Article