Still in the pit at 14th Street and Avenue C

Checking in on the activity at the southwest corner of 14th Street and Avenue C...



Ten months later (since the last EVG update on Nov. 1, 2016), crews are still in the foundation stage...



Perhaps they're combatting the elevated groundwater levels here that have impacted the other developments (here and here) along East 14th Street.

As for the new development, here's a rehash of the info I received on the project last September:

Madison Realty Capital (MRC), an institutionally-backed real estate investment firm focused on real estate equity and debt investments in the middle markets, provided a $52.0 million first mortgage loan for the acquisition of a development site in the East Village and construction of an approved 76,259 square foot mixed use development on the site.

The plans for 644 East 14th Street include 50 residential units, 8,064 square feet of retail space with 200 feet of frontage on 14th Street and Avenue C, and 21,575 square feet of community facility space.

The property is located at the corner of 14th Street and Avenue C, along the Northern border of the East Village and directly across the street from Stuyvesant Town. Residential units will offer contemporary finishes and large balconies with East River views. The borrower is currently finalizing a lease with a major New York hospital to occupy the entire community facility portion of the new building.

The East Village is now attracting young professionals and families, in addition to the artists, musicians, and students that established the neighborhood's cultural identity. The area has retained its strong character and remains a dynamic hub of popular bars, restaurants, and shops, with East 14th Street being one of the liveliest commercial corridors.

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex

14th and C still waiting for its Karl Fischer-designed retail-residential complex

Report: New owners for the empty lot at 14th Street and Avenue C

Work in progress at 14th and C

Just a quick look at the southwest corner of 14th Street and Avenue C... where activity is picking up in the empty lot...



... and the coming-soon rendering is on the plywood...



In case you missed the last post on the project, here's a quickie recap about the 14-story building:

The plans for 644 East 14th Street include 50 residential units, 8,064 square feet of retail space with 200 feet of frontage on 14th Street and Avenue C, and 21,575 square feet of community facility space.

Previously

More details on the 14-story building coming to the long-empty lot on 14th and C

[Photo from last month]

There's finally some updates about 644 E. 14th St., the long-empty lot on the southwest corner of Avenue C.

The info came in the form of a news release via the EVG inbox yesterday...

Madison Realty Capital (MRC), an institutionally-backed real estate investment firm focused on real estate equity and debt investments in the middle markets, provided a $52.0 million first mortgage loan for the acquisition of a development site in the East Village and construction of an approved 76,259 square foot mixed use development on the site.

The plans for 644 East 14th Street include 50 residential units, 8,064 square feet of retail space with 200 feet of frontage on 14th Street and Avenue C, and 21,575 square feet of community facility space.

The property is located at the corner of 14th Street and Avenue C, along the Northern border of the East Village and directly across the street from Stuyvesant Town. Residential units will offer contemporary finishes and large balconies with East River views. The borrower is currently finalizing a lease with a major New York hospital to occupy the entire community facility portion of the new building.

The East Village is now attracting young professionals and families, in addition to the artists, musicians, and students that established the neighborhood's cultural identity. The area has retained its strong character and remains a dynamic hub of popular bars, restaurants, and shops, with East 14th Street being one of the liveliest commercial corridors.

As previously reported, there are approved permits for a 14-story building.

A rendering via Real Estate Weekly shows a building looking like...



As for the "major New York hospital" taking the entire community facility portion, perhaps that's Mount Sinai Beth Israel, who's shutting down its campus on First Avenue and 16th Street in the coming years.

This corner property next to Campos Plaza and across from the Con Ed plant previously housed the single-level R&S Strauss auto parts store, which closed in April 2009.

[EVG photo from 2009]

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex

14th and C still waiting for its Karl Fischer-designed retail-residential complex

Report: New owners for the empty lot at 14th Street and Avenue C

Activity at the long-vacant corner of 14th Street and Avenue C

An EVG reader noted that workers arrived yesterday at 644 E. 14th St., the long-empty lot on the southwest corner of Avenue C. Nothing too major to point out, other than some freshly churned dirt (from some soil testing?) and newly painted plywood.

In any event, it marks the first there has been much here to note in the way of construction activity.

Last month, The Real Deal reported that Brooklyn's Rabsky Group sold the property to Opal Holdings for $23 million. (Per their website: "Opal Holdings targets value-added or opportunistic properties in the office, retail, residential and hotel sectors, to be repositioned or redeveloped.")

Not sure at this point what might be repositioned or redeveloped. Maybe the R&S Strauss auto parts store, which closed in April 2009? (It was demolished in early 2015.)

There are approved permits for a 14-story building totaling 63,932 square feet, with 8,064 square feet for retail ... and 21,991 square feet for a community facility. However, it's unclear if these are the plans that Opal would stick with moving forward.

Whenever construction actually commences, crews will likely have to contend with some serious de-watering activity... the developers two blocks to the west at 438 E. 14th St. have said that they found unusually elevated groundwater levels and exceedingly soft and unstable soil owing to the presence of an underground stream.

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex

14th and C still waiting for its Karl Fischer-designed retail-residential complex

Report: New owners for the empty lot at 14th Street and Avenue C

Report: New owners for the empty lot at 14th Street and Avenue C

[EVG file photo]

The long-empty lot at East 14th Street and Avenue C has new owners.

The Real Deal is reporting that Brooklyn's Rabsky Group scrapped plans for its first Manhattan project here, selling the property to Opal Holdings, a real-estate investment firm led by Shaya and Shulamit Prager, for $23 million. No word just yet what they have planned for the site.

Rabsky reportedly paid $15 million for the property in 2014. The one-level structure that was demolished here in early 2015 previously housed R&S Strauss auto parts store, which closed in April 2009.

There were approved permits for a 14-story building totaling 63,932 square feet, with 8,064 square feet for retail ... and 21,991 square feet for a community facility.

Not much has happened here since the demolition of the former Strauss store. As many commenters have pointed out in the past, this corner was about 5-6 feet under water during Sandy.

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex

14th and C still waiting for its Karl Fischer-designed retail-residential complex

14th and C still waiting for its Karl Fischer-designed retail-residential complex

Nearly a year has passed since we've done a post about 644 E. 14th St., where a mixed-use retail-residential complex has the go at the corner of Avenue C.

As you can see, there hasn't been much — or any — progress on this plot of land that previously housed the single-level R&S Strauss auto parts store, which closed in April 2009.







Anyway, a look at the DOB files show some amended documents as of September 2015 ... with a slightly different-sized building. Previously, permits showed a 15-story mixed-use retail-residential complex totaling 61,789 square feet. DOB permits showed 8,578 square feet of commercial space on the ground floor... and 18,937 square feet for a community facility.

The amended permits show a 14-story building totaling 63,932 square feet, with 8,064 square feet for retail ... and 21,991 square feet for a community facility. The Schedule A still shows 50 apartments.

The prolific Karl Fischer is the architect of record. (His other EV work includes The Robyn on East Third Street and The Nathaniel on East 12th Street.)

No sign of renderings yet for No. 644. But we did spot some sexy diagrams at the DOB for the address...




[Click to go big]

The diagrams do indicate balconies for the units, which are on floors 6 through 14. The documents also note "flood gate storage" on the first floor. Not sure exactly what that is, but it sounds like a good idea. This corner was about 3-6 feet under water during Sandy.

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex

14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex

Crews have demolished the one-level structure at 644 E. 14th St. at Avenue C.



Coming soon, as previously reported: a 15-story mixed-use retail-residential complex here on the southwest corner.

The Karl Fischer-designed building will total 61,789 square feet. DOB permits show 8,578 square feet of commercial space on the ground floor. The remainder of the first five stories will host a community facility, which will span 18,937 square feet, and 50 apartments will sit above.

Per the signs not he plywood, the work will be completed by summer 2015. Hurry! Unless they mean the demo...



The previous tenant here was the R&S Strauss auto parts store, which closed in April 2009.

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

Plywood arrives ahead of demolition at 14th and C; 15-story retail-residential building on the way

Workers yesterday erected a plywood fence around 644 E. 14th St. at Avenue C, site of the former R&S Strauss auto parts store.

All the paperwork is in place to demolish the one-level structure … and build a 15-story mixed-use retail-residential complex here on the southwest corner.

Per our last post on this: The Karl Fischer-designed building will total 61,789 square feet. DOB permits show 8,578 square feet of commercial space on the ground floor. The remainder of the first five stories will host a community facility, which will span 18,937 square feet, and 50 apartments will sit above, some even with views of the Con Ed power plant.

Thanks to ‏@KellerPeacenow9 for the photo!

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

City OKs 15-story mixed-use retail-residential building on 14th and C

City OKs 15-story mixed-use retail-residential building on 14th and C

[EVG file photo]

The city last week signed off on the necessary permits for the Rabsky Group to build a 15-story mixed-use retail-residential complex on the southwest corner of East 14th Street and Avenue C. (New York Yimby first reported on the approval last Friday.)

The demo permits to take down the former R&S Strauss auto parts store, which closed in April 2009, were filed last June.

What can you expect here some day?

A Karl Fischer-designed building, which will total 61,789 square feet. DOB permits show 8,578 square feet of commercial space on the ground floor. The remainder of the first five stories will host a community facility, which will span 18,937 square feet, and 50 apartments will sit above.


[EVG file photo]

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C

Here comes a 15-story retail-residential complex for East 14th Street and Avenue C

[EVG file photo]

The large development that everyone has been waiting for (or not) is finally coming to the southeast corner of East 14th Street and Avenue C... where the R&S Strauss auto parts store here closed in the spring of 2009.

Last June, Billy Gray reported at the Commercial Observer that Avison Young was exclusively marketing 644 E. 14th St. "And a near-absence of height restrictions has brokers dangling the possibility of a tower on a site with 65,689 square feet of development rights."

As New York Yimby pointed out yesterday, the developers have filed permits for the space ... and none other than Karl Fischer is the architect of record. To NYY for some project details:

Permits indicate that 644 East 14th Street will total 61,789 square feet, including 8,578 square feet of commercial space on the ground floor. The remainder of the first five stories will host a ‘community facility,’ which will span 18,937 square feet, and apartments will sit above; the structure will stand 15 stories tall, with 34,274 square feet of residential space divided between 50 units. At only 120 feet to its roof, ceilings heights will apparently be crypt-like.

No word just yet if there will be an extra charge for units with Con Ed plant views.

So, doing a little math ... there will be 150 residential units one block to the west with the additions of the two 7-floor buildings at No. 500 and N0. 524.

In total that is 200 new residences from Avenue A east to Avenue C. Perhaps it's time for another L stop ... or at least a grocery store?

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

More details on the sale of 644 E. 14th St.

More details on the sale of 644 E. 14th St.

We noted last Thursday that there is renewed interest in the southwest corner of East 14th Street and Avenue C. Avison Young is now exclusively marketing the former auto-parts store with a lot of development rights, as Billy Gray first reported at the Commercial Observer.

Here's are a few more details about the property and sale, via EVG reader J-Dough, who recently came across the flyer...



Per the listing:

Based on the applicable C1-5 and C2-5 overlay in an R7-2 zoning district, the Property is a suitable candidate for redevelopment as a multitude of uses including residential, community facility and retail including potential logical uses serving the neighborhood such as dry cleaners, specialty food, pet store, day care facilities, doctor offices and veterinary offices.

The Site can accommodate a developable area of up to 34,764 square feet for residential, 65,689 square feet for community facility and 20,212 square feet for retail with a maximum square footage dictated by the community facility zoning floor area. In addition, there are potentially 70,000 square feet of unutilized development rights from the properties directly to the west of the parcel that, with a zoning lot merger, can be incorporated into the site.

Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C

Development back in play for East 14th Street and Avenue C

[February 2012]

Looks as if there is renewed interest in the southwest corner of East 14th Street and Avenue C.

The R&S Strauss auto parts store here closed in the spring of 2009. And nothing has happened with the building since then (save the addition of more graffiti...)

Billy Gray reported at the Commercial Observer yesterday that Avison Young is now exclusively marketing 644 E. 14th St. "And a near-absence of height restrictions has brokers dangling the possibility of a tower on a site with 65,689 square feet of development rights," he noted.

As we previously reported in January:

According to the Massey Knakal Web site, the building was sold in January 2009 for $12.3 million. As the site noted: "The lot measures 114’9” x 88’and has a total buildable square footage of approximately 36,125 sq. ft. for residential use or 68,262 sq. ft. for a community facility, which will likely be the ultimate use of the property."

Turns out the buyer was Arun Bhatia, who currently has plans in place for a dorm at the former 35 Cooper Square. And the developer filed plans for a new 11-story building here on Dec. 23, 2009, per DOB records. The City disapproved the plans later in 2010.

These plans called for a 65,399-square-foot building. In an email to the Observer, Neil Helman of Avison Young's capital markets group said that the location "on two wide streets with virtually no restrictions on height limitations is also highly advantageous, enabling a tower to be erected, which would take advantage of the great East River views."

He expected a price to be the mid-$20 million range.

Is this a tough sell? The space is bounded by the Con Ed plant, which is prone to releasing steam pressure in the middle of the night and scaring the heck out of people.



... and Campos Plaza to the south... Security cameras, funded in part by City Councilmember Rosie Mendez's office, were installed here in March 2012 after an uptick in violence reportedly left residents living in fear.


Or is this really the beginning of a new era along here. As Jeremiah Moss wrote about R&S back in May 2008, this corner represents "an opening for the overall Meatpacking effect that is rippling up and down this main artery to reach deep into the East Village. The site has 'flagship opportunity' written all over it."