Friday, January 20, 2012

Report: 12th-story 'Alphabet Plaza' in the works for Second Street and Avenue D

A Queens property owner plucked down $21 million for a 130,000-square-foot development site at Avenue D and East Second Street, The Real Deal reported tonight.

Kahen Properties bought six lots at 5-9 Avenue D and 306-310 East Second Street, and plans to break ground on a 12-story luxury apartment building this spring that will feature apartments in the $2,500 to $3,600 range.

Per The Real Deal's Katherine Clarke: "The building, which will include some affordable units as part of the 80/20 program, will have a doorman, rooftop terrace, gym and outdoor space."

In addition, there are plans for a "national tenant" to take up all 10,000 square feet of retail at the building dubbed "Alphabet Plaza."

Plans for a development like this first surfaced two years ago during a CB3 committee meeting, as the Lo-Down first reported.

The original rendering looked something like this:

During the meeting, the developer's name wasn't disclosed. His reps only said that he was a "former beer distributor," per The Lo-Down.

According to The Real Deal, Kahen Properties bought the land in a Dec. 22 deal from Simon Bergson, president and CEO of Manhattan Beer Distributors, the largest single-market beer distributor in the United States.

While Bergson's plans never materialized, it sounds as if Kahen is keeping the spirit of his development intact.

Aside from Alphabet Plaza, expect developments coming to East Third Street near Avenue D ... and Houston at Ridge ...

Previously on EV Grieve:
Will Avenue D finally turn into Avenue C?

Listing appears for Houston and Avenue D development


Anonymous said...

Holy clairvoyant map, Grieve! NYU on Ave. D and 3rd St... A foregone conclusion?

Anonymous said...

Does the doorman get a Kevlar uniform ?

OWR said...

I hope they dont build over the spot where I was held up at knifepoint as a kid. That would be sacrilegious.

Anonymous said...

"National retailer"?!?!?!?!

Seriously, does that mean a huge chain store? I'm not exactly sure how big 10,000 square feet is, but are they implying a Target/Kmart/Bedbathandbeyond monstrosity is going to move in there? Please, someone tell me that this is not enough space for one of these stores, and that it will just be an especially large Subway.

If not, cue end-times music.