NYC’s 10 biggest new developments OK’d in November
A megaproject in Downtown Brooklyn — Acadia Realty Trust’s City Point – led the pack of the city’s 10 largest new developments approved in November. But plenty of other mammoth projects in Manhattan and elsewhere in the five boroughs made the list, according to a PropertyShark analysis of city Department of Buildings permits issued last month, ranked by square footage. Read on for a full list.
Acadia Realty Trust was issued a 996,540-square-foot permit for its gargantuan 1.8 million-square-foot City Point residential and commercial development in Downtown Brooklyn at 70 Fleet Street. The project, which is being built on city-owned land and received a government subsidy for the project’s affordable housing component, has been at the center of the debate over hiring nonunion workers.
West 57th Street pyramid
Durst Organization’s glass pyramid tower was issued a permit for a 936,723-square-foot project, which will contain 711 residential units as well as 10 retail units.
The City Planning Commission approved the Bjarke Ingels-designed project in December 2012, but it has been held up over a dispute between the developer and the area’s community board over how much affordable housing should be provided.
The developer solicited funds for the building through a visa program that gives green cards to foreign investors who put money into U.S. projects.
Earlier this week, the retail space, which will have ceilings up to 27 feet tall and units ranging from 875 to 27,000 square feet, hit the market.
DGC Capital Contracting was issued a permit to build a single-story, 611,211-square-foot restaurant at 448 Gateway Drive in East New York. The establishment will be operated by Apple Metro, which is the New York Metropolitan Area franchisee for Applebee’s.
Fairmont Senior Development
The city’s Department of Housing Preservation & Development secured a permit to build a 12-story, 110,671-square-foot building in the Fairmont neighborhood of the Bronx that will have 154 units of housing for seniors, according to the HPD’s Facebook page.
Cube Capital / Simon Hotel
English investment manager Cube Capital and Simon Development Group joined forces in Midtown South to resurrect plans for 11 East 31st Street, a 108,120-square-foot, 260-room hotel that will rise 30 stories, as The Real Deal reported.
Commune, a joint partnership between Thompson Hotels and Joie De Vivre Hotels, will manage the boutique hotel, which is slated to have a 125-seat restaurant and a rooftop bar.
Mount Sinai Hospital
The Mount Sinai hospital in Queens recently received a permit to build a new 100,320-square-foot single-story building at 30-19 Crescent Street.
Ekstein Residential Project
Ekstein Development is building this eight-story, 79,463-square-foot building at 44-72 11 Street in Long Island City. Designed by GF55 Partners, it will contain 105 residential units.
West 56th Street Hotel
Tim and Kit Kemp, the British husband-and-wife team behind the Crosby Street Hotel at 79 Crosby Street, recently signed a land lease with the estate of real estate investor Sol Goldman to build a 15-story hotel at 18 West 56 Street, as The Real Deal reported. The permit allows Firmdale Hotels, the London-based company headed by the Kemps, to construct a building of up to 65,491 square feet.
Whitestar Storage Space
Investment firm Whitestar Advisors received a permit to build a 57,686-square-foot single-story storage space at 16-16 Whitestone Expressway that will be designed by Morris Adjmi Architects.
Bronx Storage Space
This 57,627-square-foot, three-story Bronx storage facility will be located at 3450 Baychester Avenue.