Image via Flickr

In response to pushback, JPMorgan Chase will be redesigning its planned 1,400-foot office tower at 270 Park Avenue with additional open public space, as Crain’s first reported. Under the East Midtown rezoning, new developments are required to provide 10,000 square feet of public space, but because two-thirds of the site sits above the Grand Central Terminal train shed, architects for the project argued they could only come up with 7,000 square feet. This notion was challenged by members of Manhattan Community Board 5 and elected officials. JPMorgan has now agreed to submit new designs increasing the size of the public space to 10,000 square feet and making it an open-air area instead of enclosed as it was in the initial design proposal.

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Listing photos by Brynne Levy Photography for Compass

In the heart of the West Village at 53 Horatio Street, this three-bedroom home has just listed for $3.25 million. The 1834 Federal rowhouse was divided into six co-ops, but the units still retain their 19th-century charm. This residence spans an impressive four floors, hence why the listing describes it as a “house within a house.” In addition to its spacious, vertical layout, the apartment is the perfect mix of country decor and contemporary amenities.

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Rendering by Hayes Davidson

The partners behind the Jean Nouvel-designed tower at 53 West 53rd Street (also known as the MoMA Tower) will be serving even more price chops to the ultra-luxury project in the midst of lackluster sales, though they disagree on how much that should be. As Crain’s reported, Hines, Goldman Sachs, and Singapore’s Pontiac Land Group recently underwent an arbitration process to settle the matter, with Hines seeking aggressive discounts. The 1,050-foot condo building has already received $167 million in price cuts since hitting the market almost four years ago with a projection of $2.14 billion in sales. About 15 percent of the 145 units at 53W53 are under contract currently, with closings set to begin in the spring, a spokeswoman for the project said.

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Rendering of the new development at 705 10th Avenue. Image credit: CetraRuddy

The New York City Department of Housing Preservation and Development (HPD) announced Wednesday that it will build approximately 260 units of affordable housing on two vacant city-owned sites in the Clinton/Hell’s Kitchen section of Midtown Manhattan, one at 806 9th Avenue and another located at 705 10th Avenue. According to a press release, HPD has selected two development teams who will partner with nonprofits to bring an array of services to the surrounding community.

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Photo of 123 East 10th Street by Nina Poon for Sotheby’s International Realty; Photo of Mary-Kate Olsen via Wiki Commons

The Olsen twins love real estate almost as much as they love smokey eye shadow. Before Mary-Kate married French banker Olivier Sarkozy in 2015, the couple spent some time in the East Village. Sarkozy purchased the Anglo-Italianate townhome at 123 East 10th Street in 2012 for $6.25 million. However, the lovebirds never moved in; instead, they rented the similar house next door at 125 East 10th Street from 2012 until they purchased and moved into an equally grand townhouse in Turtle Bay in 2014. The Post now reports that the neighboring East Village homes have once again come onto the market, this time with the option to combine them for one $16 million mansion.

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Rendering via Curtis + Ginsberg

At the corner of Second Avenue and 92nd Street, just a few short blocks from the Second Avenue Subway, Extell Development has completed their first all-affordable housing project. Located at 1768 Second Avenue and designed by Curtis + Ginsberg, the development is comprised of two separate buildings, one 11 stories and the other six stories, for a combined 28 units of below-market-rate housing. These units are reserved for households earning 70 or 80 percent of the area median income, ranging from $1,018/month studios to $1,740/month three-bedrooms.

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In December, 6sqft reported that architecture firm Snøhetta had unveiled a preservationist-friendly revision to a controversial design for an updated AT&T building at 550 Madison Avenue; last month brought more details from the firm’s proposal that was submitted to the Landmarks Preservation Commission (LPC). The most recent design is one of several revisions, each followed by controversy over being seen by preservationists as diverting too much from the building’s original design by Philip Johnson and John Burgee. Yesterday LPC approved the new preservation-friendly designs–with some modifications. The office tower is now on track to reopen in 2020.

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Last December, SL Green announced plans to renovate its building at One Madison Avenue with an 18-floor addition and modern interiors. On Tuesday, CityRealty uncovered a few new renderings of the planned redevelopment, which is being designed by Kohn Pedersen Fox. The developer will reduce the 13-story building to its ninth floor and then add the 18 column-free floors above, as well as wraparound and rooftop terraces overlooking Madison Square Park.

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McNally Jackson bookstore on Prince Street. Image by Carl Mikoy via Flickr.

Bad news took a U-turn at the start of this year when beloved independent bookstore McNally Jackson announced that it would not be closing its doors on Prince Street in Soho after all. The news came a few months after after owner Sarah McNally, who opened the store in 2004, announced the store would be moving out of the neighborhood due to a 136 percent rent increase (from $350,000 to $850,000). The flagship location of the bookstore is not merely staying open; it will be launching new branches in Williamsburg and Laguardia Airport, and as New York Magazine reports, is on an expansion binge of sorts with stores planned for South Street Seaport and Downtown Brooklyn‘s new City Point complex.

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