NEW YORK | Hudson Yards Block 675 | 695 + 529 FT | 62 + 37 FLOORS


#1

Continuing the discussion from NEW YORK | Hudson District - 11th-12th Ave Span:

Major New York City developer wants to build giant rental tower near Hudson Yards

Thursday, November 13, 2014, 6:46 PM

http://assets.nydailynews.com/polopoly_fs/1.2010416.1415922231!/img/httpImage/image.jpg_gen/derivatives/article_970/douglaston14f-2-web.jpg?enlarged

Major New York City developer Jeffrey Levine has inked a contract to lease a massive site on 29th St. and 11th Ave. from a family that’s owned it for more than a century, the Daily News has learned. But his ability to build on the site rests on whether the city will grant an upzoning, permitting him to build taller than current zoning law allows.

Levine, who already owns a 34-story rental tower across the street at 312 11th Ave., wants to bring a new rental tower to the 62,000-square-foot L-shaped lot.

The development site, which comprises an old Mobil gas station, a gallery and several small brick buildings, runs the entire length of 11th Ave. between 29th and 30th Sts. and encompasses nearly 40 % of the entire city block. Under the terms of the deal, Levine’s Douglaston Development would head up construction of the tower and lease the site for 99 years, while the family would retain ownership of the land beneath.

Levine’s deal for the site is contingent on the upzoning and how much he pays for the lease will ultimately rest on just how high the city allows him to build. The going rate for similar deals in the neighborhood is north of $300 per buildable square foot, experts said.

[…]

301-309 11th Avenue and 603-613 West 29th Street

The first thing High Line strollers see when they pass 11th Avenue is the Mobil gas station at the corner of 30th Street. But this unassuming property is part of an assemblage that fronts block-through on the avenue and stretches more than 500 feet along 29th Street.

The properties are currently under a zoning that severely limits their bulk, but should the city upzone the block to allow for the same kind of density enjoyed on the east side of 11th, the combined lots could offer more than 600,000 square feet of buildable space.

The assemblage is either owned or managed by Eight Points Asset Management, a company that oversees real estate investments for institutions and high net-worth families. Eight Points did not return calls for comment.

The gas station, which has been a tenant since 1971, has a lease running through September 2016 with no option to extend.


#2

Any update here??


#3

It would be nice if they built two 1,000’ towers with 300k st each and had a huge public garden in the middle.


#4

That would be magnificent!


#5

Two Tower Proposal

601 West 29th St @ 62-Stories
606 West 30th St @ 32-Stories


Jeffrey Levine’s development company is looking to rezone properties it owns on the block west of 11th Avenue between West 29th and 30th streets, Politico reported. At the same time, the firm wants to purchase to sets of development rights from Hudson River Park totaling just a little more than 150,000 square feet.

Douglaston wants to build a pair of towers with up to 1,230 new apartments, 20 percent of which would be set aside as affordable housing under the city’s mandatory inclusionary housing program. One would be a 62-story building with 990 units and 15,000 square feet of retail at 601 West 29th Street, while the other would be planned as a 32-story mixed-use building with 206 units at 606 West 30th Street. (More in link)


#6

GreAt news, VG!


#7

700 Footer!





#8


#9

This city is on fire!!

Call the FDNY!!!


#10

Say no more.

"The building may also include approximately 12,500- gsf to be occupied by a FDNY-EMS station.”