Home » MHN City Pages  »  New York  

WP HTTP Error: A valid URL was not provided.


Staten Island Mall to Expand by 445,000 Sq.Ft.

25 Jul 2014, 2:12 pm

By Veronica Grecu, Associate Editor

Staten Island Mall indoor

Staten Island Mall indoor

It’s been almost two years since Superstorm Sandy hit New York City and all of its five boroughs are still working hard to recover after the disaster. Staten Island, the most badly damaged of them, is bustling with growth and development projects that are meant to revitalize the area and attract more residents and tourists.

Last fall the New York City Council green lighted what will become the world’s tallest Ferris wheel and a $260 million outlet center that will be built on the severely affected North Shore. The list of commercial revival continues this summer with a proposed expansion project that will enlarge the Staten Island Mall by nearly half a million square feet. Chicago-based real estate trust General Growth Properties—which owns and operates 200 malls nationwide, including the 85-acre Staten Island Mall located at 2655 Richmond Avenue—plans to transform the borough’s largest and only indoor shopping center into a 1.6 million-square-foot megamall.

According to the Commercial Observer, General Growth Properties filed a project notification form with the Department of City Planning. If approved, the mall expansion could begin in 2015 and take two years to complete, with the new space ready for occupancy in 2017. The projected 445,000-square-foot expansion designed by S9 Architecture includes a 75,000-square-foot

Staten Island Mall expansion plan

Staten Island Mall expansion plan

enlargement of the existing Macy’s department store; the construction of a new department store spanning 40,000 square feet of space, and a three-story garage with 1,500 parking spaces. Additionally, General Growth Properties plans to build a 53,000-square-foot cinema and a 50,000-square-foot supermarket. The expansion plan also calls for more than 30,000 square feet of restaurant space, up to 113,000 square feet of non-department store retail space and a new food court of around 10,000 square feet.

Apart from its existing anchor tenants Macy’s, Sears and JCPenney, the mall also houses several high-end retailers such as Ann Taylor, Apple, Microsoft, L’Occitane en Provence, MAC Cosmetics, Aveda, Soma, Potatopia, LEGO and Häagen-Dazs. However, Staten Island FYI notes that the mall could attract new high-profile tenants starting next spring, when General Growth Properties’ representatives are expected to attend the Global Retail Real Estate Convention in Las Vegas.

Click here for more market data on New York City.

Staten Island expansion plan via NYC Department of City Planning



B.R. Fries Completes Work on Pandora’s New 52 K Sq. Ft. Headquarters in Manhattan

18 Jul 2014, 8:29 pm

By Veronica Grecu, Associate Editor

125 Park Avenue

125 Park Avenue

Pandora Media, an internet radio and music streaming company based in Oakland, Calif., has a new home on the East Coast.

In June 2013 the internet music provider signed a 10-year lease for 52,500 square feet of prime office space at a rate of $65 per square foot at 125 Park Avenue in the pricey Midtown Manhattan, The Real Deal reported. The transaction was brokered by CBRE which acted on behalf of Pandora, while SL Green—the building’s owner—was represented by Newmark Grubb Knight Frank, the new source noted.

Located between East 41st and 42nd streets and directly across from Grand Central Terminal, the 26-story tower encompasses nearly 573,000 square feet of space and is one of the most ideally located office buildings in the area. Once known as the Pershing Square Building, the structure was designed by York & Sawyer architects and completed in 1923.

Pandora Media offices

Pandora Media offices

According to an official statement, construction solutions provider B.R. Fries & Associates has recently completed the build-out for Pandora’s new corporate offices which will accommodate 300 employees. The internet company will occupy the entire 19th and 20th floors at 125 Park Avenue. Designed by ABA Studio / Andrew Bartle Architects and WG Project Management on behalf of SL Green, the interconnected floors were rebuilt to support Pandora’s extensive audio-visual systems and live music performances. The finished project includes office space, private meeting rooms that reflect new workplace trends and preferences for social interaction that is specific to internet companies, multiple spaces for live music performances, a double-height atrium, as well as high-end finishes, glass partitions and wood millwork.

 

Click here for more market data on New York City.

 

Images courtesy of SL Green and B.R. Fries & Associates



Nets Unveil Plans for $45 Million Training Center in Brooklyn’s Industry City

14 Jul 2014, 3:32 am

By Veronica Grecu, Associate Editor

Brooklyn Nets Training Center

Brooklyn Nets Training Center

Major professional sports teams seem to be in a race for new practice facilities. Shortly after the Philadelphia 76ers revealed plans for their own training center in Camden and the Boston Bruins inked a long-term lease deal for a hockey rink at Boston Landing, the Brooklyn Nets announced they will build a new practice facility at Industry City in Brooklyn’s Sunset Park section.

Called “Hospital for Special Surgery Training Center” after the famed orthopedic Manhattan hospital that bought the naming rights, the 70,000-square-foot complex will be located at 148 39th Street, roughly three miles from Barclay’s Center where the NBA team plays its home games. According to NetsDaily, the training center will occupy the eighth floor and rooftop of a century-old warehouse building that also houses a 3D printers company called MakerBot Industries.

The Nets’ will invest $45 million in their new training center which will have two full basketball courts, a weight room, a training pool and two hydro pools, rooftop entertainment space and a multimedia theater with 18 seats. The plans designed by MANICA Architecture of Kansas City and New York-based Mancini Duffy also include a 3,000-square-foot lounge for player relaxation and hospitality, as well as a media room for interviews.

Brooklyn Nets Training Center - indoor

Brooklyn Nets Training Center – indoor

The Nets’ “Hospital for Special Surgery Training Center” will also host youth basketball clinics, community events and will support local business development operations.

Meant to finally bring all the Nets-related offices to Brooklyn, the Industry City location will replace the team’s current training home in East Rutherford, where the Nets have practiced for the past 15 years. “Now, our arena, training center and offices will all be together in this great borough,” said Irina Pavlova, president of Nets owner ONEXIM Sports and Entertainment, who along with her team visited around 50 different sites before finally choosing the Industry City location.

According to an official statement, Cushman & Wakefield represented the Nets in the leasing transaction. Construction at the site is scheduled to begin this summer and is expected to be completed just in time for the 2015-2016 season. The development project will create 150 to 200 construction jobs during construction.

Click here for more market data on New York City.

Renderings courtesy of MANICA Architecture



Kourtney and Khloé Kardashian Take Manhattan: New DASH Concept Store Could Open on Spring Street

7 Jul 2014, 7:23 pm

By Veronica Grecu, Associate Editor

Kourtney and Khloé  Kardashian

Khloé and Kourtney Kardashian

Kourtney and Khloé Kardashian, two of the most famous sisters in the world of reality TV shows, are on a quest to conquer Manhattan.

The Kardashians, who are currently filming their fourth and most recent spin-off in the Hamptons, are reportedly looking to expand their business in New York City with some more retail space that would accommodate a new flagship store for their clothing line. First launched in 2006, DASH is a chain of boutique clothing stores owned and operated by celebrity sisters Kim, Kourtney and Khloé Kardashian who became famous for filming the E! Reality series “Keeping up with the Kardashians.” Currently there are three DASH stores located in Los Angeles, Miami and New York City.

As revealed by anonymous sources quoted by The New York Post’s Page Six, the two sisters plan to open a huge DASH store in a five-story building at 63 Spring Street, right in

63 Spring Street SoHo

63 Spring Street SoHo

the heart of SoHo. Kourtney and Khloé have reportedly toured the property, which is located several blocks away from the very first DASH NYC boutique that opened at 119 Spring Street in late 2010, shortly after Kourtney and Kim began filming for a new reality show in the city.

Reportedly, the celeb-turned-entrepreneur sisters plan to convert the 5,500-square-foot property at 63 Spring Street into a “full-concept Kardashian lifestyle store experience.” As such, the first two floors of the building will be occupied by the DASH boutique store, while the remaining space on the upper floors will be converted into offices for the family business. The Kardashians are expected to pay around $2 million a year if they decide to rent the building,  Page Six notes.

According to the Commercial Observer, the century-old building is owned by Jack Terzi of JTRE, who acquired the real estate asset in March this year in a $15 million transaction that was brokered by RFK Investment Sales & Advisory Services—the same company that arranged the lease for Kardashian sisters’ DASH boutique at 119 Spring Street almost four years ago.

Click here for more market data on New York City.

Image of Khloé and Kourtney Kardashian via Kourtney Kardashian’s website; image of 63 Spring Street courtesy of JTRE.



370 Jay Street Building Revamped as Academic Center for NYU

28 Jun 2014, 2:17 pm

By Veronica Grecu, Associate Editor

370 Jay Street - NYU

370 Jay Street – NYU

The long-idle, 14-story building that once served as headquarters for the New York City Transit Authority  (now renamed as MTA New York City Transit) is getting ready for a much-needed makeover to become an academic center for an academic engineering and applied science program.

Owned by New York University for more than two years, the office building at 370 Jay Street is one of the most important properties in Downtown Brooklyn. Built in 1951 under plans jointly designed by William E. Haugaard and Andrew J. Thomas, the 500,000-square-foot structure served as the new headquarters of the New York City Board of Transportation until the early 1990s. In 2012 the MTA transferred the building to the city, as reported then by Second Ave. Sagas. In return, the city agreed to offer NYU the opportunity to use the property for its planned Center for Urban Science and Progress which would help this section of Brooklyn become a technology hub for New York City.

“Applied science, technology, and engineering are among our fastest growing academic areas and the new 370 Jay Street—in the heart of a thriving tech corridor—will be an environment conducive to inspiration and innovation in those fields,” said Lynne Brown, NYU senior vice president for University Relations and Public Affairs. “370 Jay Street will give us the opportunity to promote research and learning not just in Brooklyn, but with programs across the entire University.”

According to the official statement issued by NYU, Mitchell Giurgola Architects have undertaken the building’s adaptive reuse by incorporating a series of sustainable elements such as restoring the limestone and steel façade to reduce landfill waste by approximately 4,000 cubic yards and installing 1,000 energy-efficient windows. In addition, the redeveloped building will have green roofs, as well as new mechanical, plumbing and electrical systems with a one megawatt micro turbine.

NYU’s new Center for Urban Science and Progress will occupy the top three floors at the renovated 370 Jay Street building. Three business/tech incubators—Urban Future Lab in Downtown Brooklyn, Varick Street Incubator in Manhattan and the DUMBO Incubator—will be consolidated to the third floor, while the rest of the building will be used by NYU as classrooms with the exception of 14,000 square feet on the ground floor that will serve as retail space.

The project is pending review by the Public Design Commission. Once it’s approved for redevelopment, work at the site could begin in 2015 and be completed by 2017.

Click here for more market data on New York City.

Rendering via NYU







Leave a Reply