 1380 Second Ave. |
The building at 303 E. 77th St. and 1480 Second Ave. the two lots, which were formerly occupied by two four-story walk ups. Schwartz tells GlobeSt.com that the developer purchased the two lots along with air rights from the buildings to the north and the east. The two buildings have now been demolished and construction has begun. The site to be built will consist of a retail unit--approximately 2,705 sf--and 32 residential units--approximately 50,000 sf. Units will range in size from 1,250 sf through 2,500 sf. The condominium will be called the Isis Condominium. An offering plan has been filed and was accepted by the NYS Attorney General's Office, Schwartz explains. Construction is estimated to be completed by July 1, 2009.
800 Tenth Ave LP was also represented by Jeff Schwartz at Wolf Haldenstein Adler Freeman and Herz LLP and Andrew Charles and Joe Bartlett of King and Spaulding LLP. The buildings were the former site of the SONY Music Studios and were purchased by the JV for an undisclosed price. The lenders are Bank of America and Helaba Bank. The developers will be building a mixed-use building consisting of retail on the first floor and approximately 95 apartments above.
The property at 800 Tenth Ave. consists of three lots. According to Schwartz, the developer plans to construct a retail unit consisting of approximately 11,000 sf and 95 residential units totaling 121,000 sf. The layouts have not been finalized and no offering plan has been filed yet. Completion is expected in April 2010, Schwartz says.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
