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8 – The top 10 biggest real estate projects coming to NYC – The Real Deal

Learn about the latest and greatest New York City developments in this article from The Real Deal.

By Eddie Small Research by Yoryi de la Rosa

Find the full article here: https://therealdeal.com/2020/04/07/the-top-10-biggest-real-estate-projects-coming-to-nyc-31/

At least some developers are still filing projects, even as New York City remains on lockdown.

Overall, permit filings with the Department of Buildings were down 37 percent from March 1 through March 28 compared to last year, but a few large projects are still their way to the city. They include a mixed-use development on the Lower East Side from the Gotham Organization — the largest project filed in March — and a mixed-use project in Midtown from Taconic Investment Partners, which took second place.

The state issued an order in late March halting work on nonessential construction projects to slow the spread of coronavirus, and the DOB later issued guidance clarifying that work can continue on developments with inclusionary housing agreements or where at least 30 percent of apartments are affordable housing units.

Overall, the list of largest projects in March was split between three projects in Manhattan, two in Brooklyn, three in Queens and two in the Bronx. No Staten Island projects cracked the top 10 last month.

The full list of March’s top 10 biggest real estate projects is as follows:

1. 60 Norfolk Street, Manhattan
A roughly 377,000-square-foot mixed-use project from the Gotham Organization on the Lower East Side topped the list. The 30-story, 310-foot tall development will include residential, commercial and community space with 366 residential units. It is part of a two-building apartment complex that Gotham is developing with the Chinese-American Planning Council that should have almost 500 housing units overall, 20 percent of which will be affordable and 23 percent of which will be set aside for seniors.

2. 312 West 43rd Street, Manhattan
Taconic Investment Partners filed plans for this roughly 295,000-square-foot project in Midtown. The mixed-use building will stand 32 stories tall with 321 residential units across 270,000 square feet and 25,000 square feet of commercial space. The site is the former headquarters for the health care workers union 1199SEIU, and Taconic finalized a 99-year ground lease for it in 2018 with National Real Estate Advisors.

3. 1607 Surf Avenue, Brooklyn
Joseph Ferrara’s BFC Partners is planning to build a roughly 293,000-square-foot, 10-story mixed-use project on Coney Island. The 376 residential units will span 282,000 square feet, and the remaining 11,000 square feet will be set aside for commercial use.

4. 45-03 23rd Street, Queens
This roughly 289,000-square-foot mixed-use development in Long Island City comes from Tavros Capital. The 285-unit project will be split between 194,000 square feet of residential space, 77,000 square feet of commercial space and 3,400 square feet of community space. It will stand 48 stories and 544 feet tall.

5. 1810 Watson Avenue, the Bronx
This senior housing project in Soundview will have 201 units spanning about 136,000 square feet. It will stand 16 stories and include community space as well. The New York City Housing Authority filed plans for the development, and it will be part of the agency’s Justice Sonia Sotomayor Houses, according to YIMBY.

6. 27-10 44th Drive, Queens
Werwaiss & Co. is planning to build a roughly 118,000-square-foot mixed-use, 20-story project in Long Island City. The development will have 157 residential units across 107,000 square feet and 10,000 square feet of commercial space.

7. 299 East 161st Street, the Bronx
This 12-story mixed-use development in Concourse Village will span about 117,000 square feet, with 14,000 square feet of commercial space. There will be 154 residential units across 103,000 square feet, plus 52 parking spots. An LLC linked to Diamond Property Management filed plans for the project.

8. 35-01 Beach Channel Drive, Queens
The city’s Department of Housing Preservation and Development filed plans for this roughly 115,000-square-foot project in Edgemere. The eight-story project will house 138 residential units — 20 percent set aside for seniors — across 110,000 square feet. The remaining 5,000 square feet of will be used for commercial purposes. There will also be 15 parking spots.

9. 2686 Broadway, Manhattan
Toll Brothers is planning a roughly 92,000-square-foot project on the Upper West Side between West 102nd and West 103rd streets. The 13-story development will contain 73 residential units across 84,000 square feet, and 8,000 square feet of commercial space. Toll Brothers purchased the site — home to the controversial Marrakech Hotel — for $44 million last year.

10. 1508 Herkimer Street, Brooklyn
March’s list closes out with a roughly 83,000-square-foot commercial project in Ocean Hill from The Leser Group. The retail and office development will stand seven stories and 100 feet tall with 92 parking spots.

Find the full article here: https://therealdeal.com/2020/04/07/the-top-10-biggest-real-estate-projects-coming-to-nyc-31/

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