The Real Deal New York

Top 10 biggest real estate projects coming to NYC

Far West Side's Riverside Center, Flushing's Two Fulton Square among projects, according to May's filings
By Claire Moses | June 09, 2015 08:00AM

Correction appended.

UPDATED 11:10 a.m., June 12: It seems like developers took a bit of a breather in April. While last month only saw one newly-proposed project larger than 100,000 square feet, nearly all of May’s top 10 were over that size. Among the notable projects are the second building at Two Fulton Square, GID Development’s Riverside Center Complex and a hotel in Bushwick. It was an even split between Queens and Manhattan last month, with three projects each, while Brooklyn led the pack with four projects, according to data from PropertyShark.

400 West 61st Street, Manhattan
GID Development filed a permit application for the first building of its Riverside Center complex on the Far West Side. The first residential tower will be 37 stories tall and is slated to span just under 880,000 feet with 595 units. Goldstein, Hill & West is the architect of record.

29-19 41st Avenue, Queens
Kevin Maloney’s Property Markets Group is developing a 66-story tower at this location of the long-vacant Long Island City Bank. The plans call for an 870-unit rental tower of just under 770,000 square feet, according to the permit application. Maloney paid $31 million for the Clock Tower site late last year. SLCE is the architect of record. Recently, the iconic structure was deemed an official landmark and the tower will rise next door.

Maloney also owns the adjacent site — at 29-37 41st Avenue — which the developer bought for $46 million. Earlier this year, PMG bought $56 million in air rights from the MTA at that location and is looking to build a 70-story tower there.

615 Dean Street, Brooklyn
Greenland Forest City Partners is planning to build a 317,000-square-foot residential building at this Pacific Park location. Kohn Pedersen Fox is the architect of record. The tower will be located between Vanderbilt and Carlton avenues in Prospect Heights. Plans call for 244 apartments — some with private terraces — across nearly 313,000 square feet. The building will include a 4,000-square-foot commercial component.

88-08 Justice Avenue, Queens
Justice Avenue Tower LLC is planning a 19-story building on the corner of 55th Avenue. The Queens-based developer is planning to build a 271,586-square-foot mixed-use complex that will include 197 apartments as well as medical offices. Residential space will take up roughly 161,000 square feet. The development includes a 259-car subterranean parking garage.

281 Fifth Avenue, Manhattan
Developer Victor Homes and Lend Lease are looking to build a 705-foot-tall, 217,000-square-foot building on the corner of 30th Street and Fifth Avenue. Rafael Vinoly is the architect of record. The proposed 52-story building will include 141 units across more than 209,000 square feet. The ground floor will include a nearly 8,000-square-foot retail location. Victor Homes purchased the site in 2014 for $99 million from Kushner Real Estate Group and Ironstate Development, and brought in Lend Lease as a partner in April of this year.

37-09 College Point Boulevard, Queens
F&T Group is looking to build a 13-story mixed-use building — which will be part of the proposed Two Fulton Square. Construction on One Fulton Square is already underway. Two Fulton Square will span just shy of 153,000 square feet and include 170 residential units. Margulies Hoelzli Architecture is the architect of record. F&T already applied for another building at the site in March.

45-35 11 Street and 11-15 46 Avenue
GDC Properties is transforming this full block between 45th Road and 46th Avenue into a townhouse development. GDC, which bought the Long Island City property for $37 million last year, will build 12 two-family townhomes at this former garage site. Newman Design Architects is designing.

61 Ninth Avenue, Manhattan
Vornado Realty Trust and Aurora Capital Associates are planning an upscale 10-story office tower at this West Chelsea location. The land is located right next to the High Line and across the street from Google’s headquarters. Rafael Vinoly is designing the 123,000-square-foot tower.

1134 Fulton Street, Brooklyn
Brooklyn-based investor Joseph Brunner is bringing a 119-unit, eight-story rental building to Bedford-Stuyvesant. Karl Fischer is designing. The building will have just under 90,000 square feet of residential space as well as a 18,500-square-foot commercial component and a 75-car parking garage.

232 Seigel Street, Brooklyn
Toby Moskovits’ Heritage Equity Partners is planning a 144-key hotel at this Bushwick location. The proposed hotel will span more than 97,000 square feet and stand 10 stories tall. Morali Architects is the architect of record for the structure, which will be located between Bushwick Avenue and White Street.

Correction: A prior version of the article incorrectly referred to the landmarked status of the Clock Tower in Court Square.