72-Story Tower at 986 Sixth Avenue Secures $275M in Financing
A joint venture between Sioni Group and AB & Sons has locked in $275 million in construction financing from Affinius Capital and InterVest Capital Partners. The 72-story tower will include 284 apartments and 27 condominiums. Completion is expected in 2026, marking the end of a nearly two-decade site assembly process that began in 2007.
Skyline Developers Files for 34-Story Upper East Side Tower
Leonard Wilf’s Skyline Developers has filed plans for a new 508-foot-tall residential building at 185 East 80th Street. The development will include 66 units, ground-floor retail, 23 basement parking spots, and amenity rooms for pet care, fitness, and laundry. It replaces multiple low-rise properties acquired in 2022.
Premier Equities Acquires Retail Space at 200 East 59th Street for $31.3M
The retail at the 35-story luxury condo building was acquired from Alpha Investment Partners, the real estate investment arm of Keppel Capital. The tower, which had experienced sluggish sales under former owner Harry Macklowe, still contains a number of unsold units. Premier Equities has not announced formal plans.
New Condo Tower Rising at 930 First Avenue
Demolition is underway in Turtle Bay for a 29-story, 335-foot-tall condo building. The project will yield 83 units averaging 645 square feet, along with 3,465 square feet of ground-floor retail. The structure will feature a red-brick podium and a metal-paneled tower.
Office-to-Resi Conversion at 134–140 West 57th Street Moves Forward
The Feil Organization, BLDG Management, and Nakash Holdings secured a $65 million construction loan from Deutsche Bank to convert the Midtown West office property into 47 residential units. The 90,000-square-foot building had previously received a loan from M&T Bank.
Zellnor Myrie Proposes 'Mega Midtown' Plan
Mayoral candidate Zellnor Myrie introduced a proposal to add 85,000 new homes in Midtown and 1 million citywide. The plan builds on the recently passed FAR cap lift and would supplement Mayor Eric Adams’s Midtown South Mixed-Use Plan. Candidates across the field are weighing in on the city’s housing shortage and the pace of rezoning efforts.
SoHo Retail Showdown: Ralph Lauren vs. LVMH
The lease at 109 Prince Street is nearing expiration, and Ralph Lauren is reportedly negotiating either a high-priced renewal or a full acquisition. LVMH was also in the mix for the prime corner space, eyeing it for Tiffany & Co. This follows a broader trend of global retailers purchasing flagship locations in NYC.
Nello to Reopen at 1350 Avenue of the Americas
Italian mainstay Nello is reopening at a new Midtown location: SL Green’s 1350 Avenue of the Americas, at 62 West 55th Street. The 15-year lease covers 3,800 square feet and replaces Bice Cucina. Asking rents were reportedly between $250 and $300 per square foot.