Thor equities

Architecture, Construction Update, New Developments, Red Hook, Starchitecture

red hoek point waterfront rendering, norman foster red hook

In October 6sqft reported that work on Thor Equities‘ 7.7-acre waterfront office and retail complex, architect Norman Foster‘s first Brooklyn commission, had begun. A recent meeting between the developers’ representatives and community members to discuss plans for the 818,000-square-foot two-building project on the former site of Red Hook’s Revere Sugar Refinery–known as Red Hoek Point–revealed concerns that the Red Hook community is being excluded from development plans.

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Architecture, Construction Update, New Developments, Red Hook, Starchitecture

red hoek point waterfront rendering, norman foster red hook

After revealing plans in June for Norman Foster‘s first commission in Brooklyn, Thor Equities now announces that work has commenced on Red Hoek Point, the 7.7-acre waterfront office campus. The press release also brings news that the project’s two buildings, totaling 818,000 square feet, will become “the largest new heavy timber structure in North America.”

More details ahead

Architecture, New Developments, Red Hook, Starchitecture

280 Richards Street, Revere Sugar Factory, Norman Foster, Red Hook development, Thor Equities

In June, 6sqft revealed renderings of Norman Foster‘s first commission in Brooklyn, the waterfront complex from Thor Equities planned for the former Revere Sugar Factory site in Red Hook. The sole rendering showed “his signature mix of contemporary panache (glassy construction with a cantilevering portion) and contextual thoughtfulness (low-scale, boxy structures in keeping with the industrial area).”

Now, a second rendering comes to us via Curbed, which shows off the structure’s “undulating penthouses and combined 3.6 acres of green roof.” They’ve also noted that the project has an official website, leasing is underway, and it’s been dubbed Red Hoek Point, a play on the area’s Dutch name Roode Hoek from the 1600s.

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Central Park South, Midtown, New Developments

220 west 57th street

Crain’s reports that another prime piece of property will soon be changing hands, putting 126,000 square feet of development rights in play. The Steinberg family last month made an agreement with commercial developers Thor Equities and General Growth Properties to sell neighborhood fixture Lee’s Art Shop’s four-story structure at 220 West 57th Street for $85 million, a deal that is expected to close this month. It is not yet clear what the developers plan to do with the landmarked building, but what is known is that the property comes with the right to build atop the historic structure—itself boasting 21,837 square feet on a sizable 8,400-square-foot lot.

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Architecture, New Developments, Red Hook, Starchitecture

Thor Red Hook development, Norman Foster, Red Hook waterfront, 280 Richards Street

Back in 2005, the Joesph Sitt-led Thor Equities spent $40 million on a vacant, 7.7-acre parcel of land in Red Hook that juts 700 feet into the Erie Basin, between the Ikea parking lot and the Fairway. Preliminary visions for the former Revere Sugar Factory site included retail, office space, and residential buildings, but according to a press release sent out today by Thor, there will be no housing.

Today’s major announcement, however, is the architect selection: Norman Foster will helm the design of the new waterfront office complex, which will “include two heavy timber frame buildings totaling more than 600,000 square feet of creative office space, and 23,000 square feet of retail and restaurant space.” Foster is a surprising choice for the project, as his commissions are typically flashy and in high-profile areas like Midtown or the Financial District. In fact, this will be his first building in Brooklyn. But the sole rendering shows his signature mix of contemporary panache (glassy construction with a cantilevering portion) and contextual thoughtfulness (low-scale, boxy structures in keeping with the industrial area).

More details ahead

Midtown, New Developments

Part of its overall marketing plan to reinvent itself, Coach has leased space at 685 Fifth Avenue for a new flagship location to be called “Coach House.” As outlined in new DOB filings and renderings, the luxury retailer will occupy a three-story corner portion at the base of the building, amounting to 23,400 square feet. As part of the property’s transformation,  floor area from the lower levels will be removed and redistributed to the top of the 20-story building, providing five new floors of office space and raising the building’s height from 227 feet to 292 feet.

Watch the marketing video for the project

Architecture, New Developments, Williamsburg

124 North 6th Street, THOR Equities, Williamsburg, Brooklyn Retail

Last August, Joseph Sitt’s Thor Equities purchased a string of Williamsburg properties for nearly $22 million with the intent of replacing the gritty row with a 10,000-square-foot retail jewel box. Now, Thor’s website gives us our first look at what the prime property at the southeast corner of Berry and North 6th Streets may hold.

The two renderings presented of 124-136 North 6th Street reveal a sleek, two-story building clad in brick and glass that could potentially house a half-dozen boutique retailers. According to the Observer, who first reported the deal last October, Thor is seeking a retail showroom and/or restaurant tenants. Above the spaces, the building may be topped with a gardened roof deck enclosed in trellises.

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Architecture, condos, Construction Update, New Developments, Nomad

212 Fifth Avenue, BLT, Madison Equities, Extell, BLT, NoMad, Madison Square, Madison Square Park, Flatiron, Eataly, AJSNY,Helpern Architects, Manhattan condos

With the debut of their newly-sharpened website, the visual-realization whizzes at AJSNY are seeking to steal some Apple Watch buzz with this stunningly whimsical rooftop addition atop the now-under-conversion 212 Fifth Avenue in Nomad.

The conceptual vision, designed by the rendering team themselves, shows a bronze-clad, multi-story addition wrapped with sinuous ribbons framing an enormous south-facing clock. Below the steampunk-esque penthouse, AJSNY depicts a standard condo-conversion affair of open layouts and double-height spaces for the 1913 neo-medieval tower. The team’s images also give us an idea of what the official owners–Madison Equities, Thor Equities, and Building and Land Technology–have in mind for this quintessential Manhattan address. The scheme is not official or approved, but it certainly is creative.

More details on the proposed design ahead

Architecture, New Developments, Red Hook, Rentals, Urban Design

The housing-design experts at Magnusson Architecture and Planning (MAP) have hashed out a feasibility study to redevelop the Revere Sugar Factory site in Red Hook with a 1.7 million-square-foot development to include more than 900 apartments, 250,000 square feet of retail, and 400,000 square feet of parking. The six-acre site at 280 Richards Street is owned by the Joesph Sitt-led, Thor Equities, who purchased the parcel back in 2005 to the tune of $40 million, according to the New York Observer. The vacant parcel juts out 700 feet into the Erie Basin, and sits between the Ikea parking lot and the Red Hook Stores building home to Fairway Supermarket (and Michelle Williams, of course). Though MAP’s rendering date back to 2007, they have yet to be publicized, and we have the first look here.

More information on the project here

Nomad, real estate trends

Is 212 Fifth Avenue the Ultimate Manhattan Address?

By Dana Schulz, Wed, February 25, 2015

212 fifth avenue

That’s what developers of a new condominium at 212 Fifth Avenue are hoping. The prestige of Fifth Avenue is world-famous (it also adds a 5- to 10-percent premium to the price of an apartment), and as anyone who was around back in the days of analog phone exchanges knows, 212 is synonymous with Manhattan. Reporting on the “New York-iest address,” the Daily News mentions how even “Seinfeld”‘s Elaine steals her dead neighbor’s 212 phone number after she gets changed to a 646 area code. “The bearer of a 212 phone number looks like a longtime New Yorker. It’s the ultimate luxury accessory,” the paper says.

Is all the fuss justified?

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