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Thread: Clinton / Hell's Kitchen Development

  1. #16

    Default Encore West Residence

    Project #12

    Encore West Residence
    755-765 Tenth Avenue
    Ting & Li Architects
    8 stories 72 feet
    Dev-Encore Community Services
    Residential Rentals (Seniors)
    85 units 69,540 Sq. Ft.
    Under Construction Fall 2004-2006

    The Encore West Residence

    The Encore West Residence is our newest housing project that addresses the need for affordable housing for very low-income seniors. With an $8.4 million grant secured from the U.S. Department of Housing and Urban Development (HUD), under its Section 202 housing program, Encore will break ground for this new housing project in late Fall of 2004.

    The Residence will be located on Tenth Avenue in the Clinton community of midtown Manhattan. It will include 84 individual apartments, with kitchens, along with a two-bedroom unit for an on-site superintendent. Residents will live in safety knowing that 24-hour security is provided. They will also enjoy a variety of amenities and services.

    Eligibility Criteria:

    Seniors must meet income eligibility requirements and HUD federal preferences and be capable of independent living.

    Encore West Residence
    On-site Services:

    * 24-hour reception/security
    * Visitor’s sign-in at reception desk
    * Multi-purpose community room, library and activity area on main floor
    * Coin-operated laundry facilities
    * Outdoor seating areas and garden in the rear of the building
    * On-site superintendent and maintenance staff
    * On-site social worker

    Application information:

    Applications are not yet available. You can write to Encore at 239 West 49th Street, New York, NY 10019, to request that an application be mailed to you when available.


  2. #17

    Default River Center

    Unbuilt proposal for John Jay's expansion (Project #9).

    River Center/John Jay College Phase II
    ~40 stories
    Rafael Vinoly Architects
    Dev-Joseph Korff
    Mixed-Use (Commercial, Education, Mixed Use, Residential )
    1.3 million Sq. Ft.

    Rafael Vinoly Architects
    River Center (John Jay College Phase II)
    New York, New York, 1999
    Commercial, Education, Mixed Use, Residential
    130100 sq meters

    Since the early 1980s, RVA has been sporadically involved in the revitalization of the far west side of Manhattan between 42nd and 72nd Streets, most notably with the projects for Lincoln West and John Jay College. This proposal for the redevelopment of the remaining area of the block currently dominated by the John Jay building was meant to expand the facilities of the college and provide commercial space beneath an entirely new residential tower.

    Although the project never advanced beyond the early stages of programmatic development, preliminary massing studies suggested including three floors of commercial space extending the length of Eleventh Avenues between 58th and 59th Streets. A mixed-income residential tower, of approximately a million square feet, would be located above the commercial space, also on the Eleventh Avenue side. Its higher floors, commanding open views of the Hudson River and the rest of Manhattan, would be reserved for luxury units. A medium-rise building directly to the east of the tower would be connected to the existing John Jay building and would accomodate additional classrooms, offices, and expanded athletic facilities. Its massing was intended to mitigate the transition in scale between the tower to the west and the landmarked 1906 academic building to the east.


  3. #18

    Default The Westport

    Project #13

    The Westport
    500 West 56th Street/841-845 Tenth Avenue/500-508 West 56th Street
    24 stories 243 feet
    Costas Kondylis & Associates
    Dev-The Related Companies
    Residential Rental
    371 units 390,953 Sq. Ft.
    Completed 2002-Fall 2003

    The Westport

    The Westport is New York's most stylish new luxury apartment rental residence. Located just steps from Central Park and Columbus Circle, in the heart of New York City, these stunning contemporary apartments offer the sophisticated New Yorker a superb selection of a spacious, high-tech designer homes, luxurious hotel-style services and amenities, condominium-quality features and finishes, plus the convenience of an absolutely unsurpassed walk-to-everything location. Welcome home to extraordinary Manhattan luxury, style and convenience of The Westport.

    The Westport is the newest luxury rental in The Related Companies' renowned portfolio of distinctive Manhattan properties. Featuring phenomenal interiors designed by The Rockwell Group, The Westport will enhance and facilitate your busy metropolitan lifestyle with

    24/7 concierge service

    Fabulous granite kitchens and marble baths

    A lushly landscaped rooftop

    Sundeck and party lounge

    Spectacular city and river views

    Oversized and floor-to-ceiling windows

    Spacious walk-in and customized closets

    A state-of-the-art fitness center with half-court basketball

    Attended, on-site garage parking

    Private gardens with barbecue grill


    Available maid and valet services

    A dazzling selection of 25 different studio, one and two-bedroom layouts

    Multiple hi-tech media outlets in every room for telephones, cable,
    computers and data services.

    Thread here:


  4. #19


    someone from skyscraperpage took this, forgot who,sorry

  5. #20


    I posted this question on another thread here in realestate, so forgive me for a duplicate post. It is about a new development in Clinton, so...

    On the North side of West 42nd Street, midblock between 10th & 11th Avenue, a new residential highrise is going up. The foundation has already been dug. The foreman on-site told me it would be 19 stories tall, all rental apartments.

    I'd like to know the architect, or see a rendering if anyone knows.

    thank you.

  6. #21

    Default Clinton Manner


    Clinton Manner
    21 stories
    Dev-AVR Realty/Clinton Manor LLP
    Urbitran/Rosenbloom Architects
    135,000 Sq. Ft.
    Proposed ?

    Clinton Manner

    Urbitran/Rosenbloom is providing complete design services for this 135,000 square foot, 21 Story Residential Tower with underground garage and associated plaza improvements.

    The project includes layout design of high end residential apartments, ground floor Lobby with street level entry as well as landscaped plaza on the top of underground garage.

    Any one know anything? where this is exactly.

  7. #22

    Default Clinton Mews

    Projects #15 & 16

    Clinton Mews Tower I
    503-513 West 46th Street
    7 stories 65 feet
    LSGS Architects
    Dev-Grand Development Group, LLC [Second Development Services and Procida Realty & Construction Corp. of NY.]
    Residential Rental
    63,020 Sq. Ft. 83 units
    Under Construction 2003-May 2005

    Clinton Mews Tower II
    504-518 West 47th Street
    7 stories 65 feet
    LSGS Architects
    Dev-Grand Development Group, LLC [Second Development Services and Procida Realty & Construction Corp. of NY.]
    Residential Rental
    52,801 Sq. Ft. 68 units
    Under Construction 2003-May 2005

    LSGS Architects

    Client: Second Development Services, Inc.
    Project: Clinton Mews
    Location: New York, New York
    Project Type: Housing and Community Development / New Construction
    Description: Clinton Mews is a new, 151 unit residential development on New York City’s west side, in the Clinton neighborhood, formerly known as Hell’s Kitchen. This is the first private residential project to be built over the Amtrak-Metro North railroad right-of-way. The projected project cost is $19 million, exclusive of land acquisition and soft costs. The project involves a structural platform built over the open railroad cut through Manhattan schist rock. This development site is a through-lot upon which back-to-back seven story buildings will be constructed on West 46 and 47th Street around a 74 foot by 150 foot common rear yard. The two buildings will have 83 units and 68 units, respectively, which will be market value rentals. Construction starts Fall of 2002.
    JV Plans West Side Development

    By Barbara Jarvie
    Last updated: February 13, 2005 08:27am

    NEW YORK CITY-Clinton West, a condominium development, will be the first development over the Amtrak rail lines in more than 30 years. Clinton Mews Development Group LLC, a joint venture of Second Development Services and Procida Realty & Construction Corp., purchased 516 West 47th St. for $55 million.

    The joint venture plans 149 condominium apartments fronting both 46th and 47th streets between 10th and 11th avenues in the Clinton District. The site was previously an open-aired parking lot. The complex, which is slated to open in the late summer, will sit on a newly constructed $5-million concrete platform that will serve as a foundation system and mitigate sound from the rail lines. A spokesperson for the developers tell that while building over the rail lines costs slightly more, it is not a substantial amount and that SDS/Procida was attracted to the area because the neighborhood is mostly rental and there is a market demand for condos. Price points have not been established yet because there is no offering plan at this time.

    Designed by Larsen Shein Ginsberg Snyder Architects LLP, Clinton West will contain two, six-story buildings with an additional penthouse floor, all within the 65-foot height limit required by the Special Clinton District zoning regulations. The Mews arrangement of the structures will be merged with a glass-faceted greenhouse designed by TEK Architects PC that will overlook a court area.

    “Developing these very special homes above the rail lines required both patience and attention to detail during the approval, design and construction process,” says Mario Procida, president/CEO of Procida, which serves as the project’s general contractor. Construction financing has been provided by HSBC Bank USA. SDS/Procida, through their various entities, is currently involved in the development of more than $500 million of residential property in the

    POSTINGS; Apartments to Go Up Over the Tracks in Clinton
    Published: June 6, 2004, Sunday
    For $55M, Buyer Gets Midtown Manhattan Prop....
    A $40 million, two-building apartment complex, designed by Larsen Shein Ginsberg Snyder, is currently under construction on a sound-resistant, 18-inch-thick pre-cast concrete platform that straddles the AMTRAK railroad tracks in the Clinton section of Manhattan. When completed in May 2005, the two seven-story buildings will include 151 market rate rental apartments. The project is being developed by Grand Development Group, LLC, a venture of Second Development Services and Procida Realty & Construction Corp. of NY

  8. #23


    Quote Originally Posted by chris
    On the North side of West 42nd Street, midblock between 10th & 11th Avenue, a new residential highrise is going up. The foundation has already been dug. The foreman on-site told me it would be 19 stories tall, all rental apartments.
    517-521 West 42nd Street

  9. #24

    Default The Nicole

    Yea, it was mentioned already it's in this thread:

    (Project #5)


    The Nicole
    400-420 West 55th Street/831-839 Ninth Avenue
    18 stories 173 feet
    Costas Kondylis & Partners
    Dev-Gotham Organization/55th & 9th LLC
    Residential Rental
    140 units 170,440 Sq. Ft.
    Completed 2003-2004

    The Nicole


    Address: 400 West 55th Street at the corner of Ninth Avenue
    Architect: Costas Kondylis & Partners
    18 stories, completed 2004
    Rental Office (212) 430-3700
    Across the street from Alvin Ailey American Dance Theater
    Neighborhood: Hell's Kitchen

    Thread here:


  10. #25

    Default Hell's Kitchen is the new Yorkville

    From "We, Like Sheep"

    Hell's Kitchen is the new Yorkville
    October 15, 2004

    One of the things I love about New York is that it has the vitality of a European city, even if it doesn’t look anything like one. There are always people out on the street, businesses and residences sit on top of one another, and one is forced to interact with the rest of the population, like it or not.

    When I lived in SoHo, this European resemblance went even further: most of the people on the street seemed to be actual Europeans. It was always a little disorienting to emerge from my building on a late Saturday morning and to be immediately confronted by a group of well-dressed Italian tourists eating lunch at an outdoor table. Even though I still think SoHo is beautiful and charming, I never really felt comfortable there. It didn’t feel like a neighborhood; at least it didn’t feel like my neighborhood. I was closer to the Chanel and DKNY stores than I was to a grocery store, and I didn’t feel much kinship with either the dwindling community of Italian-American senior citizens or the ever-growing throngs of multi-millionaire “artists” and Eurotrash. When I moved to Hell’s Kitchen with the DP, I knew I was giving up charming walks home along Prince Street (past that nice brick wall surrounding Old St. Patrick’s Cathedral) and my Sunday morning stroll to church up Bedford Street (past the ever-popular-with-tour-groups Friends building, as well as Chumley’s and the “narrowest house in the village”).

    What I was giving up in beauty, I would gain in “realness”.

    Although I love our little apartment (and my ten minute walk to work), I have to admit that I was never overenthusiastic about Hell’s Kitchen. The traffic on Ninth Avenue is really annoying and loud, especially at rush hour. The streets and sidewalks are not very clean. In the morning, I have to navigate huge numbers of disaffected and overweight high school students, as well as a fair number of indigent persons who appear to be temporarily displaced from whatever rehabilitation program they are attending or homeless shelter in which they are residing. There are also all of the bitchy theater gays, who trot by with a sneer or a snicker. Fine, though. It’s real life in the big city.

    I know it’s really boring to talk about gentrification in New York. For the past 10 or so years, gentrification has proceeded throughout the island of Manhattan and part of Brooklyn, turning once frightening and dangerous areas into the ideal spot to grab a saketini or wasabi-encrusted tuna steak. Hell’s Kitchen has been one of the few places south of 125th Street in Manhattan where gentrification was proceeding somewhat more slowly, and where (relatively) low rents seemed to persist while cool restaurants and bars continued to open.

    As Chelsea to the south has become more and more astronomically expensive, it has gotten significantly less gay. Of course there are still plenty of gay bars and services for gay tourists, like stores where you can buy porn, "freedom rings" and tasteless greeting cards. But the average hot young thing off the bus from Topeka can’t even dream of getting an apartment there, unless he has a sugar daddy, wealthy parents, exceptional entrepreneurial skills, or incredible luck. So the gays have been moving up to Hell’s Kitchen, and straight couples with two Wall Street incomes and a new baby have been moving into Chelsea.

    In the past couple of months, however, the pace of gentrification in Hell’s Kitchen appears to have picked up. I’m not sure if it is because of the new Time Warner Center at Columbus Circle, or the opening of the Nicole, or if it’s just the same socio-economic pressures that have made $2000/month studios seem like a “bargain” in the rest of Manhattan. Six different businesses appear to have been evicted in one building at 9th and 55th. The old-fashioned grocery store near 42nd is gone. A new stylish Thai place called “Tiny” just opened, and a new hip café called “Fluff” opened this morning. (I have long since grown tired of the requirement for trendy places in New York to have one-word names. Or names referring to the address. But’s better than names like “P.J. Calamity’s”.) There appear to be four or five more stylish-looking places under construction between 43rd and 58th. Either disappointingly or reassuringly (I can’t decide), the businesses on our block appear to be remaining seedy.

    However, I think that this accelerated gentrification actually means that Hell’s Kitchen is going to bypass becoming the new Chelsea, and is going to move on to becoming the new far Upper East Side/Yorkville. The DP and I now have to walk by a new sports bar near 42nd Street called “Dalton’s Bar & Grill” (I’m sure they have great “wings” and stuff like that; the first time the DP and I saw it, we felt like the girls in Ghost World when they came upon the Wowsville diner -- except we didn't go in), and the gentrification process in our own building (which, frankly, can only go so far without actually demolishing and rebuilding it) seems to consist of fresh-faced straight jocks and professional young women.

    That’s life in New York. The free market decides, only partially hindered by the remaining rent-stabilization laws. Maria and Tony would hardly recognize the old neighborhood.

  11. #26

    Default 428 West 49th Street

    Project #18

    428 West 49th Street
    6 stories 60 feet
    George Schwarz Architect
    Dev-Hiam Josephs; The Living Theater,
    Residential Condominium/Institutional
    12 units 10,468 Sq. Ft.
    Under Construction 2004-2005

    A theater for The Living Theater is being constructed as a community facility space in the cellar.

  12. #27

    Default The Foundry

    Projects #19 & 20

    The Foundry
    505/501-509 West 54th Street/815 Tenth Avenue
    12 stories 151 feet
    SLCE Architects
    Dev-Gotham Organization
    Residential Rental
    164 units 177,252 Sq. Ft.
    Completed Spring 2001

    The Foundry Tower II
    510/508-516 West 55th Street
    6 stories 57 feet
    SLCE Architects
    Dev-Gotham Organization
    Residential Rental
    58 units 52,965 Sq. Ft.
    Completed Spring 2001

    The Foundry

    The Gotham Organization developed The Foundry to address the desires of Manhattan renters for convenient location in an authentic neighborhood. At 505 West 54th Street on 10th Avenue, low-rise buildings, brownstones and sun-filled streets surround The Foundry.

    Many neighborhood shops have served area residents for decades while new restaurants, clubs and fine food purveyors add a wide variety of distinctive notes to the local themes.

    This is urban living at its best, a small town within the City five blocks from Central Park, minutes from Lincoln Center or the Theatre District, convenient to Rockefeller Center and Times Square.

    The Lobby

    The two hundred and twenty-two alcove studio, one and two bedroom homes at The Foundry offer unique floorplans with expansive window walls and open kitchens for loft-like living.

    The lobby at The Foundry evokes the area's industrial heritage with concrete and brick surfaces muted by a rock water wall.

    The Foundry's residents' garden continues the infusion of nature into the urban setting.

    The Foundry residents' sun deck, lounge and fitness center offer active and passive recreation. Concierge service 24 hours a day and an array of advanced telephone, cable and satellite TV, hi-speed Internet services, personal storage, bicycle room and garage complete The Foundry's answer to the advantages of City living in the ambience of a small town.

    Building I

    Building II

    The Foundry Lobby
    New York City
    Tillett Lighting Design Inc.
    Gotham organization, Inc - Leases - announces D'Agostino Supermarkets Inc.
    Citi Habitat named agent for 505 West 54th Street

  13. #28

    Default 660 Twelfth Avenue

    Project # 21

    660 Twelfth Avenue
    Goshow Architects
    Dev-Rockrose Development
    9 stories 169 feet
    Commercial Office
    709,392 Sq. Ft.
    Partially Completed-On Hold

    Two stories have already been completed and leased to Fed-Ex.

    660 Twelfth Avenue
    Goshow Architects
    Dev-Rockrose Development
    2 stories 45 feet
    Commercial Office
    241,470 Sq. Ft.
    Completed 2001-December 2002

    New York Construction News:

    660 Twelfth Avenue
    Owner/Developer: Rockrose Development Corp., NYC
    Tenant: Federal Express Corp., Rochester, N.Y.
    Architect: Vollmer Associates, NYC
    Associate Architect: Goshow Architects, NYC
    Structural Engineer: The Cantor Seinuk Group, NYC
    MEP Engineer: Cosentini Associates, NYC
    Demolition Contractor: A. Russo Wrecking Inc., Lawrence, N.Y
    Excavation and Foundation Contractor: Mayrich Construction Corp., Bronx, N.Y
    Concrete Superstructure: Carlton Concrete Corp., Mineola, N.Y.
    Structural Steel: Interstate Iron Works Corp., Whitehouse, N.J.
    Electric Contractor: High Rise Electric Inc., Long Island City, N.Y.
    Plumbing Contractor: Almar Plumbing and Heating Corp., South Ozone Park, N.Y.
    HVAC Contractor: Martin Associates, Flushing, N.Y.

    When Rockrose Development Corp. began buying up lots on 12th Avenue between 48th and 49th streets, it had in mind the construction of Manhattan's first ground-up telco hotel, with an overnight delivery service to function out of the lower floors.

    David Kluge, senior architect with Vollmer Associates LLP, worked with a cadre of consultants to make sure the new facility would meet all the structural and technical requirements of a building hosting the servers and switches that make the Internet a reality.

    Then the bottom fell out of the telco hotel market (nationally the vacancy rate in such facilities is currently hovering at about 40 percent) and changes had to be made.

    The building that was completed last year at 660 12th Ave. is two stories high with a cellar. Federal Express Corp., which holds a 25-year lease, opened shop in March. The ground floor provides space for the off- and on-loading of Newark Airport-bound trucks and the distribution of their packages via conveyors to 140 van locations on the cellar and second-floor levels.

    At the same time, the basement of the $80 million facility has the capacity to house a 140,000-gallon fuel tank farm that could supply 23 roof-top generators and 22 transformers, all required to provide the power redundancy needed by Internet tenants. The building can also provide 30 watts per sq. ft., the power necessary to cool racked computers and other Internet equipment.

    None of that is needed - at least for now.

    It also has a large lobby on 12th Avenue for future tenants and four empty elevator shafts for upper floors that don't yet exist.

    "The hard thing about this project was designing a building, much of which was not going to be built immediately," Kluge said. "Structurally, it can take another six floors above what is built now."

    Patricia Dunphy, a vice president with Rockrose, added: "It was a heartbreaker because we had designed such a beautiful building when the telco market collapsed under us. We had to go ahead (with construction) because we had already committed to Fed Ex."

    Kluge and Dunphy are confident that the remaining six floors will be built when the market allows.

    "I don't have a crystal ball; I don't know when or for what kind of tenant," Dunphy said. "Right now I doubt it will be telco. It may be something we can't even imagine yet."

    Thread here:

    Rockrose to Build Atop 12th Ave. Space
    West side story - Rockrose Development Corporation planning to build its comercial property
    Rockrose to build Manhattan's first planned telecom facility
    Last edited by Derek2k3; April 15th, 2005 at 03:24 PM.

  14. #29

    Thumbs down Beta West

    Project # 21

    Beta West
    321 west 54th Street
    7 stories 65 feet
    Avinash K. Malhotra Architects
    Dev-Bettina Equities Company, LLC
    Residential Rental
    109 units 96,000 Sq. Ft.
    Completed 2002

    Redefining the 'Special' in Clinton
    Historic Development Proposed for District

    Chelsea Clinton News, April 29, 1999
    By Jill Grossman

    With interest in development ever-increasing in Hell's Kitchen, a developer has for the first time in nearly a decade applied for a variance to alter the zoning laws first put in place to protect the neighborhood's low-rise character in 1974.

    Last week, this paper reported that, according to Rose Caiola, a partner at Bettina Equities, her family's company has applied to build a seven-story luxury residence at 321 W. 54th St., at one time a candy factory.

    The Chelsea Clinton News has since learned that Bettina has applied to the city Board of Standards and Appeals (BSA) for a variance that would allow for it to construct an additional four stories, making for an 11-story structure on the block between Eighth and Ninth avenues in the Clinton Special District.

    "The bulk variance requested would be required to permit a reasonable return on the owners investment," reads the application. The statement to the BSA from Bettina's attorney, Joseph Morsellino, goes on to claim that the bulk of the buildings on the neighboring blocks have buildings of similar or greater height, and his client's application would therefore not adversely affect the area.

    In order for the BSA to approve such an application, the developer must demonstrate the uniqueness of its circumstances and the financial hardship posed by building within the current zoning laws. It must also show that the new development would not adversely affect the character of the neighborhood, said Pat Pacifico, BSA spokesperson.

    The last variance of this kind to come up in the Clinton Special District was for the New York Foundation for Senior Citizens building on West 54th Street. The now-defunct Board of Estimate approved the project with only one dissenting vote -- from former Borough President Ruth Messinger.

    "It not only did not destroy the special district, it enhanced it," said Pacifico, a life-long resident of Clinton. "Now a lot of seniors have a lot of housing."

    At press time, the BSA, comprising Chair James Chin of Staten Island and three members, none of whom reside in Manhattan, had not begun reviewing the application. Copies have been distributed to Community Board 4 (CB4) and to Manhattan Borough President C. Virginia Fields for comment. The board hopes Bettina representatives will attend its May 10 land-use committee meeting to discuss the plans.

    "My chairman won't move until he hears from a community board," said Pacifico.

    While CB4 and community members look over the variance application -- which has been posted on the website -- to date they stand by their concerns that the large building would, in fact, have negative effects on their quality of life.

    "This would be a new threat because then any landlord could come in and say; 'We're not going to make enough money,'" said John Fisher, president of the Clinton Special District Coalition (CSDC) and a member of CB4. It undermines the entire purpose of the special district."

    In a study commissioned by CB4 in 1993, Columbia University professor Elliot Sclar stated, "High rise development would not only destroy the physical character of the community, it would increase the chance of displacement of low- and moderate-income residents."

    Six years later, Sclar stands by this statement. In his back-and-forth arguments with the city, as counsel for the CSDC in its lawsuit against the city regarding the Eighth Avenue rezoning plan passed by the City Council last year, he refutes the city's claim that building more will in the long run push rents down.

    "Demand goes to where things are built in New York and raises the chances of displacement," he said.

    While he is not familiar with the particular application at the old chocolate factory, he predicts that approval by the BSA could set a dangerous precedent. "It all sounds to me like they're asking the Board of Standards and Appeals to make land-use policy... and once you do this, the next guy can come along and say, 'Look, It's already being done here.'"

    As to Bettina's claim of financial hardship, Sclar says this tactic is "over used." "There's a self-fulfilling prophecy to this," he said. "They [Bettina) went into this with their eyes open. Once you grant the higher building, it becomes a hardship for the next guy. Sometimes these guys pay more on spec, thinking that the city will let them build more."

    While Pacifico could not comment on the specifics of the application, he addressed some neighbor's fears that if the BSA allows the construction of an 11-story building on the debated site, it could start a domino effect for high-rise development in the special district: "It's each individually based," he said of the basis for BSA's decisions. You [a developer] better come in with a strong argument."


  15. #30

    Default 310 West 52nd Street

    Project # 22

    310 West 52nd Street
    306-310 West 52nd Street
    41 stories 433 feet
    Costas Kondylis & Partners
    Dev-El-Ad Group
    Residential Condominium
    209 units 259,421 Sq. Ft.

    Photo by Edward. Larger size here:


    August 27, 2004

    The group that just spent $675 million on the Plaza Hotel has scooped up the mid-block SIR Studios site for $43 million, where it intends to construct the first high-rise luxury condos in Clinton.

    The site at 310 W. 52nd St. was bought by Miki Naftali's El-Ad Group from Vikram Chatwal's hospitality company. Chatwal combined the former SIR Studio with transferable development rights from his Howard Johnson Hotel so a larger and taller building can be constructed.

    According to broker Eric Anton of Eastern Consolidated Properties who worked with partner Ron Solarz, Naftali sees the area filled with rentals as ripe for the luxury market.

    "The building will have upscale amenities and wonderful views," said Anton.

    Copyright 2004 NYP Holdings, Inc.

    Wired New York thread

    June 21, 2004 -- Vikram Chatwal's Hampshire Hotel Group has scooped up SIR Studios' mid-block building at 310 W. 52nd St. to create a development site that can hold a 37-story residential tower.

    Hampshire Hotels already owns the Howard Johnson's next door, and would have moved forward with its plans with or without SIR, said Michael Johnson, president of Studio Instrument Rental New York.

    In order to keep the studio from becoming "landlocked" — which would reduce the value of the property — SIR's partners decided to sell for what sources said is approximately $9 million.

    Chatwal has already hired Eric Anton and Ron Solarz of Eastern Consolidated Properties to sell the site — which could hold up to a 250,000-square-foot tower — for as much as $50 million to $60 million....
    Mike Naftali’s El-Ad group bought the SIR Studios site at 310 West 52nd Street for $43 million from Vikram Chatwal’s hotel company. The site includes air rights from Chatwal’s Howard Johnson so a taller building can be constructed. El-Ad will construct a luxury condominium. Eric Anton and Ron Solarz of Eastern Consolidated Properties handled the brokerage.
    The neighborhood upgrade includes a 42-story apartment tower being developed by Elad Properties, located just west of Eighth Avenue at 310 West 52nd Street.

    He believes the short-term rental and pied-à-terre market is a third and lesser component of the Times Square residential real estate market, as does Miki Naftali of Elad Properties.

    Naftali said he has no intention of marketing his 42-story apartment tower primarily to investors.
    Looks like Elad Properties has done it again. Snatching up an old midtown warehouse occupied by a performance/audition studio, the building will now form the lower seven floors of a "boutique-style" condominium. Elad also purchased air rights from next door neighbor, Howard Johnson, which will allow them to construct a 42-story glass sheathed tower for mixed-use retail and luxury condominium residences.

    Teaming up with the renowned architectural firm of Costas Kondylis & Partners, who are also working with Elad on the much-talked about condominium conversion of the Plaza Hotel, 310 West 52nd Street will integrate the loft-like feeling of the original structure. Needless to say, the building will boast a full suite of amenities and is expected to boost the revitalization of Times Square.

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