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BLDUP Update 12/30/21

This past year has been huge for commercial real estate in the New York City area. Many new projects broke ground, many others finished entirely, and that magnificent skyline we all know and love is becoming visibly larger as a result. But while it’s great to see projects coming to life, it must be remembered that the construction stage is only the star of the show because of all the behind-the-scenes preparation done well in advance. It’s like the New Year's Eve Celebration in Times Square… only possible because of the vast amounts of setup and coordination that go into producing the big event. With lots of developers eager to pop the cork in 2022, many project teams have been working around the clock this year to submit some truly impressive proposals. While a few are bound to drop the ball, many are deep in the public review process, and plenty more have already been approved. In anticipation of an exciting new year in CRE, here are 22 NYC projects to keep an eye on in 2022:

1. NYBC Center East Applied Life Sciences Hub

NYBC's Center East Life Sciences Hub will come as part of Mayor, Bill DeBlasio's ambitious citywide plan to invest $1 billion in life science programs by 2026. The 16-story hub, set for Manhattan’s Upper East Side, will total almost 600,000 square feet and function as a state-of-the-art innovation center. It will also be a key part of the city’s pandemic response infrastructure going forwards. At this time, the project has already been approved.

2. River North (Liberty Towers)

River North (Liberty Towers) is a mixed-use development set for Staten Island’s St.George neighborhood. The recently approved project will be developed by Richmond SI Owner LLC and the complex will have a total of 4-buildings. These structures will be built on two neighboring sites and are planned to contain a combined 750 residential units. They will also have 25,900 sqft. of retail, 225 affordable housing units, and parking spaces for 331 vehicles. In total, the development will span 584,984 square feet.

3. 495 Eleventh Avenue

495 Eleventh Avenue is an approved mixed-use project set for Midtown Manhattan. The dual-tower high-rise will be developed by Radson Development and total 581,601 square feet. The towers will contain hotel rooms, affordable housing, commercial office space, retail, a restaurant, a hotel, and an NYPD vehicle storage facility. Originally conceived as a single tower, the design was changed by FXCollaborative in 2017.

4. Acme Smoked Fish Factory

The new Acme Smoked Fish Factory is an approved project that’s being developed by Rubenstein Partners and designed by Gensler. A 9-story, 654,300 square foot building will be constructed with factory space for the Acme Smoked Fish Corporation; a renowned Brooklyn seafood purveyor. In addition to manufacturing space, the building will contain retail and office space for other tenants. In doing so, the project aims to create another community focal point for the Greenpoint neighborhood.

5. 3875 Ninth Avenue

Approved for Manhattan’s Inwood neighborhood, 3875 Ninth Avenue, is a mixed-use tower that’s set to contain 620 residential units (including affordable housing). The 544,000 square foot building is being developed by Maddd Equities and was designed by Aufgang Architects. The structure will stand 30-stories tall at a height of 295 feet. In addition to residential units, there will be 62,000 square feet of retail space and 122 parking spaces.

6. 270 Nostrand Avenue

270 Nostrand Avenue is an approved mixed-use development, set for the Bedford-Stuyvesant neighborhood of Brooklyn. BRP Companies plans to build a 444,289 square foot building with 487 residential units. The 14-story structure was designed by GF55 Partners and will stand 154 feet tall. Though the vast majority of the space is dedicated to residential use, the building will also include over 20,000 sqft of commercial retail, a 95-vehicle parking garage, and a 1,128 square foot community facility.

7. 615 River Road

615 River Road is an approved, 19-acre development, along the Gold Coast waterfront in Edgewater, NJ. Developed by Envirofinance Group, and The Maxal Group, the project will consist of three, 25-story towers with 1,200 apartments combined. Designed by FXCollaborative, the development will total 1.2 million square feet and contain green outdoor spaces throughout the property. There will also be a walkway extending out into the Hudson River, 20,000 square feet of retail space, and 40,000 square feet of tenant amenities.

8. Wildflower Studios

Wildflower Studios is an approved, 495,000 square foot movie studio in Astoria, Queens. Developed by Wildflower LTD and designed by Bjarke Ingels Group, in partnership with Hollywood elites, Robert De Niro and Jane Rosenthal, Wildflower Studios will have 11 sound stages, with extra tall floors, and a multi-story entrance that can accommodate large trucks for production operations. If all goes to plan and construction proceeds without delays, the studio should open its doors sometime in 2023.

9. 589 Fulton Street

589 Fulton Street is a 52-story, mixed-use tower, proposed for Downtown Brooklyn. The 597,824 square foot building would be developed by RedSky Capital, and reportedly contain 592 rental apartment units, spread across 465,000 sqft. Beyer Blinder Belle is behind the design, which also incorporates over 37,000 square feet of ground-floor retail space. In addition, 589 Fulton would have an indoor sports and recreation facility, and potentially even office space. Demolition has already begun on the existing site. The new tower would come as yet another addition to Brooklyn's growing skyline, and it will further the redevelopment trend of the Downtown area.

10. 286 Coles Street

286 Coles Street is a mixed-use tower, proposed in Jersey City. Developed by Albanese Organization and designed by Marchetto Higgins Stieve Architects, it would total 830,150 square feet and contain 670 residential units. The building would also have ground-floor retail space, tenant amenities, parking for 355 cars, and storage for 350 bicycles. The structure will have sections of varying heights, with the tallest topping out at 21 stories. This project comes as part of the Jersey Avenue Park Redevelopment Plan.

11. 415 Madison Avenue

415 Madison Avenue is an approved 40-story office tower project set for Manhattan’s East Midtown area. Developed by 415 Madison Avenue LLC, and designed by Skidmore, Owings & Merrill, it will stand 605 feet tall and total 343,100 square feet. An existing 24-story commercial building will be demolished in order to make way for the new development.

12. 500 Kent Avenue

500 Kent Avenue is a 23-story commercial building proposed for Brooklyn’s South Williamsburg waterfront. Developed by The Rabsky Group and Hampshire Properties, the structure will contain 593,435 square feet of office space, 20,476 square feet of retail, and 37,000 square feet of outdoor space. There will also be an underground parking garage amassing over 143,000 square feet and providing 308 spots for office workers and retail shoppers. The development has been designed by Marvel Architects and would total 757,431 square feet if built.

13. 30-05 Queens Boulevard

30-05 Queens Boulevard is a 46-story mixed-use tower, proposed in Long Island City, Queens. Developed by Largavista Companies, the development would contain 518 condominium units, spread across 869,856 square feet. In addition to residential space, it would have 466,421  square feet of commercial space. Designed by CetraRuddy, the building will total 1,336,277 square feet and stand 517 feet tall.

14. 30 Park Lane North

30 Park Lane North is an approved, 33-story residential project in Jersey City. Developed by LeFrak, and designed by Minno Wasko, the building will contain 387 units. It will also have close to 7,500 square feet of retail and restaurant space, a 379 vehicle parking garage, and of course a long list of tenant amenities. The project comes as part of LeFrak’s 300-acre Newport development plan.

15. 888 Fountain Avenue

888 Fountain Avenue is a 15-story building proposed in Brooklyn’s East New York neighborhood. Developed by L+M Development Partners, it would total 386,362 square feet and feature 437 rental apartments. It would also have 8,049 sqft of commercial space, a 25,173 square foot community facility, and a 45-vehicle parking garage. The firm tasked with designing the project is NYC renowned, Dattner Architects.

16. 247 North Avenue

247 North Avenue is an approved 28-story tower project in New Rochelle. Developed by the Cappelli Organization, and designed by WXY Architecture + Urban Design, the mixed-use building will span 377,006 square feet and contain 244 residential units. It will also offer retail units, a select number of affordable housing units, and a parking garage with 211 spaces. 

17. 840 Atlantic Avenue

840 Atlantic Avenue is an approved 18-story building set for Brooklyn’s Prospect Heights neighborhood. Developed by Vanderbilt Atlantic Holdings LLC, and designed by IMC Architecture, it will contain 316 residential units and 50,650 square feet of retail space. The building will total 342,610 square feet.

18. 62-04 Roosevelt Avenue

62-04 Roosevelt Avenue is a 13-story mixed-use building, proposed for Woodside, Queens. Developed by Woodside 63 Management LLC,  the 211,541 square foot structure will contain 213 residential units, with 64 units reserved for affordable housing. The development will also include commercial space, a community facility, and room for 156 parking spaces.

19. 1637 First Avenue

1637 First Avenue is a 22-story, mixed-use tower development proposed for Manhattan's Yorkville neighborhood. Developed by Extell Development Company, the structure would contain 459 residential units, with affordable housing included. In addition, there are plans for commercial space, 2-basement levels, ground-floor retail, and a rear yard. Designed by SLCE Architects, the entire structure will total 471,953 square feet, and stand 215 feet tall.

20. 356 Fulton Street

356 Fulton Street is a mixed-use tower proposed for Downtown Brooklyn. Developed by The Feil Organization, the 43-story structure will contain 363 rental apartments, spread across 329,305 square feet. In addition to housing units, there are plans for well over 100,000 square feet of commercial space. Designed by SLCE Architects, the entire structure will total 443,418 square feet, and stand 496 feet tall. It will have 2-basement levels as well as both outdoor and indoor parking for a combined 146 vehicles.

21. 16 Dupont Street

16 Dupont Street is a 40-story mixed-use tower being proposed in Greenpoint, Brooklyn by developer, Park Tower Group. As part of the Greenpoint Landing masterplan, the building would contain 378 residential units, and 2,548 square feet of retail on the ground floor. It will be designed by Gerner Kronick + Valcarcel, Architects, DPC, and total approximately 365,651 square feet. The structure is also planned to have a cellar and an enclosed parking garage with enough space for 138 vehicles. The lot is currently vacant and permits have been filed in order to facilitate the project.

22. 155 3rd Street

155 3rd Street is a 22-story, mixed-use tower, proposed for Brooklyn's Gowanus neighborhood. Developed by Monadnock Construction, the structure would contain 301 rental apartments, spread across 231,124 square feet. In addition to residential space, it would have 34,863 square feet of commercial retail, as well as an enclosed parking garage with room for 45 vehicles. Designed by Dattner Architects, the building will total 265,987 square feet and stand 225 feet tall.

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