Noho offices move forward where city wants housing

Proposed 21-story office building is within Soho/Noho rezoning area

New York /
Jan.January 12, 2021 10:45 AM
SK Development's Scott Shnay and Ironstate's Michael Barry (Google Maps, Scott Shnay via LinkedIn)

SK Development’s Scott Shnay and Ironstate’s Michael Barry (Google Maps, Scott Shnay via LinkedIn)

UPDATED, Jan. 12 2020, 5:20 p.m.: On a corner of the Bowery that’s currently occupied by a one-story bar, the city envisioned a 110-unit residential building as part of its larger plans to rezone Soho and Noho.

But the site’s owners have other plans: They’re building offices instead.

Last week, the developers — a collaboration between SK Development, Ironstate and CB Development — filed plans for a 21-story office building at 358 Bowery, spanning approximately 112,600 square feet, according to Department of Building records. The plans call for 16 floors of offices above ground-floor retail and a community center. Morris Adjmi is listed as the architect of record.

The site sits within the Noho-Bowery Corridor, which is currently zoned for low-rise manufacturing buildings. If the city’s proposal for the Soho/Noho rezoning is ultimately approved, developers could build a residential structure of approximately 117,000 square feet, provided it included affordable housing.

But Ironstate’s Michael Barry said the rezoning won’t disrupt the group’s plans.

“We are essentially sticking with the current plan that we have,” he said. “Not that it isn’t an exciting theoretical.”

In a statement,  Joe Marvilli, a spokesperson for the Department of City Planning, said that new development is “an important sign of strong confidence in New York City’s future.”
“Like creating space for new jobs, building contextualized affordable housing in these two historic communities is key to a fair recovery,” he added. “That’s why DCP is moving forward this year on its plan to bring permanently affordable housing and economic opportunities for all New Yorkers to SoHo and NoHo.” DCP did not comment specifically on the plan for 358 Bowery.

Last October, CB Development bought a $59.5 million stake in 358 Bowery from hotelier Eric Goode, who amassed air rights from neighboring properties to pave the way for a larger development on the site.

Ironstate and SK inked a ground lease at the property at the end of 2019, and at the end of 2020, SK Development filed plans to demolish B Bar & Grill, the site’s current occupant.

The rezoning of Soho and Noho is high on the list of priorities for Mayor Bill de Blasio, who leaves office at the end of the year. According to a draft scope of work released by the city’s planning department in October, the rezoning could eventually lead to 3,200 apartments being constructed across a 56-block area, with 800 of those deemed affordable.

The draft scope also calls for removing current restrictions on retail use within the zoning area, and permitting some buildings with a floor-area ratio of 12, the largest currently allowed by the city.

UPDATE: This piece was edited to add a statement from the Department of City Planning.





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