Three months after Daniel Hollander filed plans to develop an office building at 30 Thompson Street in Soho, the world changed.
Covid shut down the city and many office projects were wiped off the drawing board, including Hollander’s. Two years later, in January 2022, he sold the vacant Soho site for $13 million to Jason Kimmel’s Extended Management, according to PincusCo. A neighborhood rezoning passed in December 2021 increased its development potential and its value.
An adjacent vacant lot, 32 Thompson Street, had been purchased for $8.75 million eight years earlier by an LLC with the same address as the troubled Madison Title Agency in Lakewood, New Jersey.
Kimmel also runs Crown Parking, which his late father founded in the 1970s, but he’s not paving paradise — adjacent vacant Soho lots purchased for a combined $22 million — to put up a parking lot.
Newark-based Extended Management plans to build a 77-unit, 212,000-square-foot, mixed-use building at 32 Thompson and a 21-unit, 47,000-square-foot residential building at 30 Thompson. The buildings will be 26 and 23 stories, respectively, and bordered by Grand Street, Watts Street and West Broadway. Some retail space is planned for the lower floors.
Kimmel, who borrowed $15 million from Oceanside Bank in 2022 to refinance the Thompson Street assemblage, could not be reached for comment. It appears that he plans rentals at the address, which is also known as 360 West Broadway, because his filing says the project complies with the city’s Mandatory Inclusionary Housing law.
The site is subject to the law because it falls within the Soho/Noho rezoning area, which is bordered by Sixth Avenue to the west, Lafayette Street and the Bowery to the east, Canal Street to the south and Houston Street and Astor Place to the north.
Extended also filed plans for an eight-unit, nine-story, 13,000-square-foot building at 285 Hudson Street, nine minutes west by foot from the Thompson Street site.
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The permit requests were filed by Christopher Fogarty of the architectural firm Fogarty Finger for Madigan Development, which was acting on Extended’s behalf.
Charles Kimmel, who died in 2006, founded and headed Crown Parking for 30 years. The firm specializes in parking and real estate.