
Chadwick Boseman views from Third Avenue...
He noticed how quickly these most humble structures were disappearing, a reflection of the rapid development and gentrification of the neighborhood. He completed the project this past fall, and over the course of the documentation many of the buildings have already disappeared or will soon be demolished.
In order to capture the buildings unobstructed, Friedberg mostly shot very early in the morning before cars and trucks obstructed the street-level views. In the process, he got to know many of the people who own or work in these buildings.
In so doing, he came to understand that not only were the buildings being sold, but an entire primarily working-class economy (workshops, garages, fast-food joints) and culture (storefront churches and community centers) was disappearing. Friedberg’s Single-Story Project forms an alternative geography of changing city and captures an urban erasure happening right before our eyes.
Madison Realty Capital (MRC) has provided a $48 million senior loan for the funding of a $79.1 million financing package for the development of a mixed-use office project at 3 St. Mark’s Place ...
Hana Financial Group, a leading South Korean financial services company, provided Real Estate Equities Corporation (REEC), an experienced local developer with an additional $31.1 million of mezzanine financing to fully capitalize the project.
REEC’s development plans call for a 10-story, 68,224-square-foot modern boutique office building with eight floors of office space, a fitness center, roof deck, and 7,886 square feet of retail.
The property is well-located at the corner of St. Mark’s Place and 3rd Avenue in a section of Manhattan’s East Village that has seen significant growth in demand for quality office space from a mix of tech, finance, law, and family office tenants in recent years.
The site is adjacent to 51 Astor Place, a 400,000-square-foot office and retail asset developed by Minskoff Equities that is home to anchor tenants IBM Watson and St. John’s University, in addition to a strong retail roster that includes Shake Shack, Flywheel, Bluestone Lane and Orange Theory.
The developers will be eyeing rents in the area of $150 per square foot. Such figures were once only seen in the most expensive locations in Midtown but now are commonplace for newly constructed office buildings in areas like the Meatpacking District, Soho and Greenwich Village.
The wings are marinated in either soy garlic or hot and spicy sauce, both of which were tasty. You can also order drumsticks or chicken strips in the same marinades. The Kimchi cole slaw had a nice kick, as expected. Other Korean dishes like mandu (dumplings) and pa-jeon (scallion pancakes with seafood) are also on the menu...