Oh, Rats (hopefully not)…Composting Has Arrived

Warby Parker’s 200th real-world store is located nearby at 73 5th Avenue.

Some fun history about 65 5th Ave.

“The New School has been a presence at 65 Fifth Avenue, the site of the University Center, since 1967, when the university converted a Lane’s department store building for student use. But long before the address became associated with educational innovation, it was renown for innovation of another kind. In 1881, inventor Thomas Edison installed at the address (which was then occupied by a handsome brownstone) a permanent exhibition of his electrical discoveries. The biography Edison: His Life and Inventions reports that “the house was thrown open to the public until late at night, never closing before ten o’clock, so as to give everybody who wished an opportunity to see that great novelty of the time—the incandescent light—whose fame had meanwhile been spreading all over the globe.” It is a fitting legacy for the University Center, which upon opening in Fall 2013 will itself serve as a living teaching tool, with exposed energy and water management systems to provide working demonstrations of sustainable design.”

The former TGI Fridays on Union Square East will become a standalone site for Spacious, the co-working space that already operates within Corkbuzz from 8-4 every day. Details here.

Next week (May 14 to May 18), Superstructure work will continue at the 18th floor level. The superstructure concrete work will be completed on the building buy the end of the month. Deliveries for the internal systems of the building have been ongoing and will continue, although they should not greatly affect the flow of pedestrian and road traffic.

The following week (May 21 to May 25), we will be working on the machine room levels on the 18th floor. Deliveries for the internal systems of the building have been ongoing and will continue, although they should not greatly affect the flow of pedestrian and road traffic.

This weekend the site will be open on Saturday, May 12th for superstructure related activities between the work hours of 7AM and 5PM as permitted by the City. To control noise levels within the site, work activities will be limited to the placement of formwork and concrete, plumbing and electrical work, rebar for concrete placement, using the crane and equipment to support all activities. Safety horns are used, and required by law, to coordinate lifting with the crane and to alert the workers of the danger overhead. We have directed the operators to limit the use of horns to one short sounding and to use the crane later in the day so as to avoid any excess noise. There will be steel work being done on the 5th Ave. side of the building. As a result there will be another crane on site to lift the pieces into place but it will sit in the site and will not affect pedestrian or motor traffic in the area.

Additionally, Con Ed will be doing street connections on 14th street.

 

A Greenwich Village parking garage at 12 E. 13th St. between University Place and Fifth Avenue will be transformed into eight large condominiums, in another sign of the city’s booming ultra-luxury market.

The building, which sold for $32 million in 2012, will feature eight apartments—a mix of full-floor units and duplexes—with expected asking prices range from $7.5 million to $28.5 million for the top triplex, according to the project’s developers. Occupancy is expected by the end of 2014.

The project is a joint development by DHA Capital LLC and Continental Properties.

The developers plan to add four more floors to the eight-story building, which was built in 1930. A portion of the rear will be demolished and replaced with the new stories, and it will also receive a new façade with elongated bricks to make the windows wider.

The 10th, 11th and 12th floors will make up one triplex, while all of the ninth and part of the eighth floor will make up a duplex with an asking price of $18 million. The building will be topped by a glass structure being added as part of the 6,000-square-foot triplex penthouse.

The building will feature a 24-hour concierge, an automated parking system, a small gym, individual storage space and street-level retail.

The building is currently undergoing demolition, and reconstruction work will begin in a month or two.

Steven Fisch of Continental Properties, a family business started by his father in 1957, said this was their first joint venture with DHA Capital LLC, and the two groups looked at other properties before deciding on this one.

“One major factor was the size of the block, the location obviously, and the ability to do something very special, to create almost a work of art with full-floor condos,” said Mr. Fisch. “It’s very hard to find a 67-foot-wide building.”

Mr. Fisch said the two groups decided to create an ultra-high-end luxury building rather than smaller, more affordable apartments because there has been very strong demand for this type of housing over the past five years, and a shortage of supply.

He said they also wanted to distinguish themselves from large buildings featuring 150 and 200 apartments.

“It is in a location, and a time in New York City, when this can happen,” said Mr. Fisch.

Richard Cantor, a principal at Cantor-Pecorella, is marketing the condos. Mr. Cantor said none had been sold yet, but the ultra high-end luxury residential market is very strong.

“There’s been a huge uptick in prices in the high end, it’s a very strong market,” said Mr. Cantor.

He said the building doesn’t have a “pretentious” name, and is just known by its address to keep it simple.

The last tenant at the 45,000-square-foot parking garage was Hertz Rental Car, which vacated once its lease expired.

Information is sketchy, but it appears that Pan Am Equities, the real estate company that owns the collection of “True North” apartment buildings, including one on our 13th St. block, is now in the process of reconfiguring 24-26 East 13th St., the former home of the New York Health and Racquet Club, into 39 apartments, up from the previous 24. The ground floor and basement may once again hold a fitness facility. It’s unclear if the overall size of the building will change, but it appears not.