Friday, October 17, 2014

Top 5 - Largest Projects Coming to New York City

Amidst the hustle and bustle of city life, construction in New York City has been booming. From super tall skyscrapers in Midtown to massive apartment complexes on the Brooklyn waterfront, exposed steel and large cranes are everywhere. But some of the city’s largest projects are still on the drawing board waiting to get underway. Here’s our list of the Top-5 Largest Projects about to get underway:

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#1:  500 West 33rd Street


The biggest upcoming development is a 3,423,666-square-foot tower at 10th Avenue and 33rd Street. 30 Hudson Yards will include 2.6 million square feet of office space, as well as one million square feet in retail.

Related Cos. hired architects Kohn Pedersen Fox to design the massive 80 story project. A loan for the tower is expected to close mid-2015, which is when the construction will begin.

Time Warner will be the anchor tenant, taking office space up to the 38th floor.


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#2:  22-44 Jackson Avenue 

 

The second biggest project waiting to break ground is the former 5Pointz site in Long Island City. Demolition is presently underway on the derelict property, which was once a haven for graffiti artists.

Developers Jerry and David Wolkoff plan to build two towers costing $300 million - and totaling more than one million square feet - on the site early next year. 

The mixed-use project will include 1,000 new apartments, 12,000 square feet of artist studios and retail space. 210 apartments in the complex will be set aside and rent at below market rates.


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#3:  606 West 57th Street  


TF Cornerstone is preparing to build a 42 story apartment on the corner of 57th Street and 11th Avenue.

The City Council's Land Use Committee approved a massive $550-million development in Hell's Kitchen in April.

The 992,938-square-foot development will be 440 feet and tall and include 40,000 square feet of retail space.

SLCE architects designed the complex which will house 1,028 new apartments, and replace a Lexus and Acura dealership at the location.


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#4:  43-22 Queens Street  

 

Rockrose Development is preparing to build a 623,337 square foot residential complex on the site of a former Eagle Electric Warehouse in Long Island City.

The developer plans to leave the original structure largely intact as a base for the 54-story tower, which will rise to 580 feet and house 738 new apartments.  The project will also include 34,500 square feet of retail space.

Rockrose bought the warehouse in 2012 for $48 million, and has approximately 2,500 units of new housing under development in the Court Square area.


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#5:  33 Bond Street

 
Developer TF Cornerstone is planning to construct a massive 600,000-square-foot complex of apartments and retail stores between Schermerhorn and Livingston streets in Downtown Brooklyn.

The future 33 Bond Street will rise 250-feet from the former site of a five-story parking garage located near the Brooklyn Academy of Music, which they bought for $70 million last year. The 25-story tower will house 714 rental apartments, of which 20 percent will be set aside as affordable housing.

The new building will contain 564,500 square feet of residential apartments with central air conditioning, and 30,000 square feet of retail space at street level.



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