The Real Deal New York

Top 10 biggest real estate projects coming to NYC

March’s largest new permits include a Midtown hotel, LIC skyscraper and two Bronx buildings

April 15, 2015 08:00AM
By Claire Moses

If the top 10 biggest new real estate projects are any indication, New York City’s skyline is set to be inundated with a new crop of tall buildings.

In total, the top permit applications filed with the city’s Department of Buildings in March account for 2,630 units in Manhattan, Brooklyn, Queens and the Bronx.

Kevin Maloney’s Property Markets Group landed in first place with its 70-story Long Island City tower that is expected to span more than 829,000 square feet. Sharif El-Gamal’s hotel project at West 40th Street and Seventh Avenue rounded out the top 10, according to data from PropertyShark. In March, four of the biggest projects were located in Manhattan, three in Queens, two in the Bronx and only one in Brooklyn.

29-37 41st Avenue in Long Island City

29-37 41st Avenue in Long Island City

29-37 41st Avenue, Queens
Queens Plaza Park Development — a partnership between Property Markets Group and the Hakim Organization — is looking to build an 829,260-square-foot tower. The development site hit the market last year for $50 million and was ultimately sold for $46 million.  The 70-story, 772-foot-tall tower at the site will house 930 units and is being designed by SLCE Architects. The building is slated to include 15,000 square feet of commercial space.

10 Riverside Boulevard

Rendering of 10 Riverside Boulevard (bottom left) (Credit: Christian de Portzamparc)

10 Riverside Boulevard, Manhattan
Extell Development and the Carlyle Group filed plans to build their 414,013-square-foot tower at 59th Street and Riverside Boulevard on the Upper West Side. The 36-story building is slated to stand 420 feet tall and include 288 units, as well as 1,400 square feet of basement commercial space. The developers bought the lot on the Far West Side for $50.3 million in 2005. Goldstein Hill & West is the architect of record.

David Lichtenstein and 130 William Street (Credit: CoStar Group)

David Lichtenstein and 130 William Street (Credit: CoStar Group)

130 William Street, Manhattan
David Lichtenstein’s the Lightstone Group is planning a 50-story skyscraper in the Financial District. Plans call for 337,670 square feet that will be divided among commercial, residential and hotel use. The building will house 188 units, according to the plans. Goldstein Hill & West is the architect of record. Lightstone bought the property in 2014 for $60 million.

2848 Brainbridge Avenue, the Bronx
Ursuline Bedford Park Convent is looking to build a 229,978-square-foot building that will be connected to two existing buildings — one with two stories and the other with four stories — at the site. The OCV Architects-designed property will include 184 residential units.

From left: 75 Nassau Street and Metin Negrin

From left: 75 Nassau Street and Metin Negrin

75 Nassau Street, Manhattan
The second Financial District project to appear on this top 10 list is Lexin Capital’s proposed 40-story tower, which will span almost 229,000 square feet. The plans indicate that the building will be almost 500 feet tall and include 197 units. ODA New York is the architect of record.

133-27 39th Avenue, Queens
F&T Group is planning a 189,511-square-foot development at this location of the Flushing Mall. F&T is also responsible for Flushing Commons. This permit accounts for the first phase of the developer’s Two Fulton Square development. The building will house 192 units and be designed by Margulies Hoelzli Architecture.

34-11 Beach Channel Drive, Queens
Arker Cos. is building an affordable housing development at this beach location in Queens. Plans call for a seven-story building that will include 154 units. Ariel Aufgang Architects is designing the building. The Bronx-based developer received a $35 million loan from the city for the project.

530 Exterior Street, the Bronx
Monadnock Development proposed plans to build a 13-story building at this Mott Haven location. The building will include 157 units and come with 49 parking spaces. Dattner Architects will be responsible for the design of the 120-foot-tall residential building.

109 Montgomery Street, Brooklyn
Brooklyn-based Cornell Development is planning a 131,727-square-foot residential building that will include 173 units and come with a 70-car garage. Karl Fischer is designing the Crown Heights property, located between Washington and Franklin avenues.

From left: Sharif El-Gamal, 205 West 40th Street and the Dream Hotel Downtown

From left: Sharif El-Gamal, 560 Seventh Avenue and the Dream Hotel Downtown

560 Seventh Avenue, Manhattan
Sharif El-Gamal plans to build a 29-story, 167-key hotel at this Midtown location, spanning just under 119,000 square feet. But El-Gamal and his partners MHP Real Estate Services and Hampshire Hotels Management are buying air rights to boost the project’s density by about 20 percent. Stonehill & Taylor is designing the building.

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