Thor equities

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?

Real Estate Wire

Barclays Center
  • Forest City Enterprises is putting its 55% stake in Barclays up for sale. [Brooklyn Eagle]
  • The Department of City Planning certified a five-block rezoning application today for a stretch of Vanderbilt Avenue near Grand Central Terminal that includes SL Green’s One Vanderbilt tower. [CO]
  • Mayor Bill de Blasio has rejected JPMorgan Chase’s request for $1B in tax incentives to keep its headquarters in New York. However, he hasn’t ruled out offering some tax breaks. [Crain’s]
  • Thor Equities has purchased two Williamsburg properties for approximately $17.8 million and is planning to turn the site into a 10,000-square-foot retail development. [CO]

Images: Barclay’s (left); One Vanderbilt (right)

Real Estate Wire

Soori High Line, SCDA Architects, High Line architecture, Soo Chan, interior swimming pool
  • Sales have launched at the Soori High Line condos. Three of the building’s 27 units are currently listed, and two of them have heated pools. The cheapest, pool-less unit is asking $3.7M; and the steepest, which comes with a 24-foot-long pool, is asking $10.995M. [Curbed]
  • Rents in Crown Heights have jumped 17.5% in a year. [Brownstoner]
  • Rent one of J Wasser & Co’s apartments in Williamsburg, Bushwick or Bed-Stuy and get the ultimate hipster ride free: A $100 ‘fixie’ bike. [DNA Info]
  • Simon Dushinsky, of real estate investment firm Rabsky Group, has picked up a stake in a development located at the former site of Rheingold Beer’s brewing operations. A 1,000-unit residential project is slated for the Bushwick locale. [Crain’s]
  • Thor Equities has closed on three commercial condominium units at 120 Greenwich Street at Albany Street for $31.1 million. [CO]

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