„ The proposed 496-foot-tall development will yield 443,418 square feet, with 329,305 square feet designated for residential space and 114,113 square feet for commercial space. The building will have 363 residences, most likely rentals based on the average unit scope of 907 square feet. The concrete-based structure will also have two cellar levels, a 30-foot-long rear yard, 73 open parking spaces, and 73 enclosed parking spaces.“
“Feil has started demolition work, and it will start foundation work early next year, according to Executive Vice President Brian Feil. Construction should be finished in roughly three years, he said.”
There’s a rendering included in the article. When I walked by the site the other day they had started on internal demo of the old Modell’s.
It looks nice, if a bit uninspired.
I walk past this every day. I’m looking forward to this tower very much and was happy to see a lot of that junk go. But now I’m disappointed and confused.
So, right now, there are 5 buildings before you reach the demolished buildings:
But the render shows only 3:
I was REALLY hoping those other 2 buildings would be demolished as well. I think it would make the tower look great. Having the building directly next to 356 Fulton be the beautiful new Gage & Tollner restaurant (https://www.gageandtollner.com) would be wonderful. Now I’m just worried that these eyesore, junky buildings will continue to be up for a while. Are they coming down or not?
Doesn’t look like it. However, in the future, I wouldn’t doubt them being demolished (making way for a small-scale lowrise).
I had been wondering that too. Without those lots, does that change the shape of the building? Or are they just taking liberties with the rendering. Note the building on the corner has been scaled down and altered for a better composition.
Meanwhile, I hope someone was able to salvage some of those lovely green terra cotta tiles from the old bank building.
I think you’re right - it’s just liberties with the rendering. It must be a very preliminary rendering.
“Gary is very smart in what he does, and I’m sure he’ll want to put his own stamp on it,” Feil executive Brian Feil told Crain’s. “Whether he wants to keep the 421-a or do something different, that’s up to him.”
Not much change since last YIMBY update in Dec 2022, just some equipment on site and scaffolding up on the adjacent building.
Thread already exists for this
Per NYguy SSP
“Now, according to the TASE filings, that project may expand to 600K SF.”
Simon Dushinsky’s Rabsky Group and Joel Gluck’s Spencer Equity Group took over the long-term ground lease at 356 Fulton Street from Gary Barnett’s Extell Development in a $39 million deal, property records show.
The frequent partners picked up the site, plus two neighboring parcels and air rights, in a $56 million deal, according to a filing on the Tel Aviv Stock Exchange, where Gluck has raised multiple rounds of debt financing. They intend to purchase more air rights in the coming weeks, per the filing.
The pair plan to develop a massive residential project with about 200 condos, 299 rental units and 20,000 square feet of commercial space at a cost of about $400 million, per the TASE filing. Valley National Bank provided a $31.5 million loan for the purchase, which was first reported by PincusCo.
So when is this supposed to start rising?
