Katherine Clarke reports for The Real Deal. Ponte Gadea Group, the U.S. investment arm for Spanish billionaire Amancio Ortega, has acquired a 56,000-square-foot office and retail building at 414 West 14th Street for $94 million, according to public records filed with the city today. The group purchased the property from a partnership between the Carlyle Group and Sitt Asset Management,

Mark Maurer reports for The Real Deal. Tribeca-centric developer Colonnade Group wants to convert the landmarked former warehouse for the Pearl Paint home-improvement and craft store into a mixed-use building. The developer paid $9.2 million for the five-story building at 42-46 Lispenard Street, between Church Street and Broadway, in October. Plans call for the red 13,216-square-foot building to gain ground-floor retail.

Reuven Blau reports for NY Daily News. Outgoing Brooklyn Borough President Marty Markowitz has touted a plan to redevelop the vacant Childs building into an amphitheater that can seat 5,000 and host 40 concerts a year. The historic, now-vacant Childs Restaurant building on the Coney Island Boardwalk is being eyed for redevelopment as a 5,000-seat concert amphitheater. Brooklyn Borough President Marty Markowitz’s