The Real Deal New York

The top 10 biggest real estate projects coming to NYC

A hotel project from Marx Development Group in Hudson Yards topped the list
By Eddie Small | August 07, 2018 09:00AM

Clockwise from right: David Marx and a rendering of the Marriot Hotel at 450 11th Avenue, a rendering of 98-04 Queens Boulevard in Rego Park, and 2760 West 33rd Street in Brooklyn (Credit: Peter Casini Architect and Google Maps)

Manhattan dominated the list of New York City’s top 10 largest real estate projects in July.

The borough took four of the top 10 spots, including the number one spot thanks to Marx Development Group’s roughly 213,000-square-foot hotel and retail project at 450 11th Avenue in Hudson Yards. The development will be 43 stories tall and contain 531 residential units.

Queens had three projects on the list, while Brooklyn had two and the Bronx had one. No Staten Island projects were in the top 10 for July. Other notable projects included a Coney Island development from Starrett Corp. and a mixed-use project from Manhattan jeweler Avi Matatov in Rego Park.

The full list of July’s top 10 biggest real estate projects is below:

1. 450 11th Avenue, Manhattan
Marx Development Group’s plans for a roughly 213,000-square-foot hotel and retail project at 450 11th Avenue in Hudson Yards topped July’s list of largest projects. The 43-story project is expected to stand 487 feet tall with 531 units. The hotel will be a Marriott, and the company landed an $88 million construction loan for it in June.

2. 98-04 Queens Boulevard, Queens
Avi Matatov filed plans for a 23-story mixed-use project in Rego Park spanning about 192,000 square feet with 116 apartments. The residential units would span about 137,000 square feet, and the development would also include about 25,000 square feet of ground floor retail space and 30,000 square feet of community space, along with a garage for 411 cars. Matatov runs a Midtown jewelry business and bought the property for $12 million in January.

3. 2760 West 33rd Street, Brooklyn
Brooklyn’s first appearance on the list comes courtesy of Starrett Corp., which is planning a roughly 160,000-square-foot development on Coney Island with 199 residential units. The building would stand 14 stories and 149 feet tall, and amenities will include a rec room, bike storage and a 110-space parking garage. Aufgang Architects will design the project.

4. 224 West 124th Street, Manhattan
Carthage Real Estate is planning a 108-unit residential building in Harlem at 224 West 124th Street. The 12-story development would span about 113,000 square feet and stand 112 feet tall. It will contain a mixture of condos and rentals, as well as a mixture of affordable and market-rate units. Fischer & Makooi Architects will design the building.

5. 32-29 Linden Place, Queens
Latimer and Linden Management are planning to build a roughly 86,000-square-foot project in Flushing. It will contain 92 residential units across about 63,000 square feet and include about 23,000 square feet of community space as well. The project will stand seven stories and 70 feet tall, and Tan Architect will design it.

6. 215 North 10th Street, Brooklyn
Largo Investments filed plans for a Williamsburg project spanning about 64,700 square feet. The development between Driggs Avenue and Roebling Street would stand six stories tall and be split between about 32,800 square feet of residential space and 32,000 square feet of commercial space. It would include 30 residential units, with the bottom three floors reserved for office space. Largo, led by Nissim Ben-Nun and Nicholas Werner, closed on its $25 million purchase of the building last March, and the developers said they planned to build condos.

7. 460 West 41st Street, Manhattan
The nonprofit Covenant House is planning a 12-story, 60-unit building in Hudson Yards spanning about 53,000 square feet. The company focuses on helping homeless youths, and its new project would replace a smaller eight-story youth homeless shelter currently on the site. Covenant went under contract earlier this year to sell the Gotham Organization part of the site for $78 million in a sale that should close before the end of 2021.

8. 323 East 61st Street, Manhattan
This project from the William Macklowe Company would span about 50,000 square feet and stand six stories and 74 feet tall. Daniel Goldner Architects will design the development.

9. 1538 Stillwell Avenue, Bronx
The Bronx’s sole appearance on the list is a storage facility planned by Stillwell Self Storage in Morris Park. The three-story project would span about 22,000 square feet and stand 41 feet tall.

10. 33-10 38th Avenue, Queens
Queens closed out July’s list thanks to a roughly 17,000-square-foot mixed-use project in Long Island City. The development from Ravi Patel would contain 20 residential units across about 14,000 square feet of space along with roughly 3,000 square feet of community space. It would stand seven stories and 75 feet tall.