Monday, June 29, 2020

Completion date for new office building at 3 St. Mark's Place is February 2022

As we've been reporting in recents weeks, work has commenced on the northeast corner of Third Avenue and St. Mark's Place, site of a future 10-story office building.

New on the plywood: A vague schematic of the future structure...

The signage also offers a piece of news: the completion is listed as February 2022.

And for a more detailed view of the all-new 3 St. Mark's Place ... as seen in this before and after...

The total square footage of the building has yet to be determined. Cutting and pasting from before:

The City Planning Commission will cast their vote at a later date as part of the city’s Uniform Land Use Review Procedure. They are expected to approve the plan to transfer air rights from the landmarked 4 St. Mark's Place to the new development across the street at 3 St. Mark's Place. In issues such as this, City Council usually follows the lead of the local Councilmember. (Carlina Rivera spoke out against the transfer plan in in early March.)

With the air-rights transfer, developer Real Estate Equities Corporation (REEC) would be allowed to build 8,386 square feet larger than the current zoning allows.

Regardless of an extra 8,000 square feet, construction will still happen. As Gothamist reported in early March, the project's architect, Morris Adjmi, emphasized a building of a similar height size would be built as-of-right.

REEC picked up the 99-year leasehold for the properties here for nearly $150 million in November 2017.

Previously on EV Grieve:
New building plans revealed for 3rd Avenue and St. Mark's Place

Concern over potential air-rights transfer for new office building on St. Mark's Place and 3rd Avenue


Anonymous said...

That's the greatest rendering I've ever seen. I'd laugh if I wasn't crying.

Anonymous said...

Literally looks like a pile of crap in the drawing. Nice.