Nicole Anderson reports for The Architect’s Newspaper. With the support of incoming mayor Bill de Blasio, City Council has squashed the Bloomberg administration’s plan to allow for the development of taller buildings in East Midtown. The decision marks the end of Mayor Bloomberg’s 12-year term, leaving behind a legacy that will likely be remembered for reshaping the cityscape with large-scale
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
