Top 10 biggest real estate projects coming to NYC

May’s new development permit filings were dominated by a pair of gargantuan warehouses spanning a combined 1.4 million square feet of space, planned by Staten Island Marine Development. A pair of 60-plus-story residential buildings followed, planned by Stawski Partners and Madison Equities and the Pizzarotti Group, in Long Island City and the Financial District respectively.

On the whole, the month was a tale of contrasts, with several massive projects leading the way, but just half the field crossing the 100,000-square-foot barrier. Two of the projects didn’t even clear 50,000 square feet, according to Department of Buildings data compiled by PropertyShark.

Just three Manhattan projects made the top 10 in May. Three Queens projects made the list as well, along with two in Brooklyn.

45 Broad Street, Manhattan

Robert Gladstone’s Madison Equities and the Italy-based Pizzarotti Group finally filed a permit application for their long-planned 65-story, 257,000-square-foot condominium tower in the Financial District. AMS Acquisitions is also an investor in the project. The partners closed on the property late last year for $86 million, securing a $75 million acquisition loan from Mack Real Estate Credit Strategies around the same time. The tower will have 150 residential units, according to the filing, as well as about 48,000 square feet of commercial space.

2420 Amsterdam Avenue, Manhattan

Young Woo’s Youngwoo & Associates is planning a 192-key, 214,000-square-foot hotel and office complex at the northern end of Washington Heights, between West 180th and 181st streets. The Marvel Architects-managed project will result in two portions — one a hotel and one an office building — and will also produce 169 park spaces and several amenity spaces. The building will also have retail at its base. Youngwoo paid $12 million for the site in 2014.

368 Third Avenue, Manhattan

Erez Itzhaki’s Itzhaki Acquisitions filed a permit application along with partner Continent Ventures to build a 34-story rental building in Kips Bay between East 26th and 27th streets. The 116,000-square-foot tower will contain 103 units and a small, 3,000-square-foot retail space at the base. The partners bought the site for $50 million early next year. It’s currently home to five contiguous rental buildings containing a combined 53 units and seven retail spaces.

Read More…http://therealdeal.com/2016/06/07/top-10-biggest-real-estate-projects-coming-to-nyc-20/

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