March was a big month for new developments, and with New York City’s population reaching an all time high, these new building are going to come at the right time. New Yorkers have been talking about these especially notable developments: 100 Varick Street, 10 Jay Street, and The Dumbo Waterfront.
100 Varick Street
Michael Shvo and Itzhaki Acquisitions, who acquired the development back in January, are looking to transform it into the ‘Soho Tower’. While the developers have yet to reveal the building’s architect, they have distributed the first renderings of the project. The renderings reveal that the site can support a new structure measuring 280,000 square feet, which meet current expectation for a tall high-rise, since the area was rezoned in 2013—for a maximum height of 290 feet. This means the ‘Soho Tower’ would sit below the nearby Trump SoHo, which currently dominates the skyline. The current rendering provides little insight into the tower, which reveal sheltered balconies around the upper levels, encased in shrouded glass. 100 Varick Street is going to aim at the super-luxury market, with no completion date in sight.
10 Jay Street
Finally approved by the Landmarks Preservation Commission is a makeover for the current eyesore of a warehouse located on the Dumbo waterfront. The approved plan was designed by ODA Architecture, who were inspired by the building’s history as a sugar refinery. The newest design had minimal refinements, but left one commissioner calling it “absolutely perfect”, as the last design was deemed too edgy. The renovations, expected to begin on May 1, will restore the original three facades to their historical masonry condition, while creating one new facade that mixes glass, steel, brick, and spandrel to evoke the sugar factory’s history. The new development will house 46 condominium units that are expected to range from two to five bedrooms. Pricing is expected to compete with other developments in the area – starting between $1,400 and $1,600 per square foot. Amenities will feature a bike room, gym, pet spa, and three passenger elevators – and lets not forget the generous 10,000 square foot land donation to the Brooklyn Bridge Park.
The Dumbo Waterfront
With a new luxury development on the Dumbo waterfront, it is no wonder there are more plans underway to further develop the area. The city is now ready to dig into the rest of the underdeveloped and underused area connecting Brooklyn Heights, Dumbo, and Downtown Brooklyn. The current concept includes changes under the Bridge, near Prospect Street, that then move up to Cadman Plaza, and go all the way up to Borough Hall. One of the most controversial ideas: Brooklyn Strand, a cafe inside bridge. The proposal for all of these concepts is awaiting approval and funding from various government agencies. Yet with major stakeholders behind the project – like the MTA, DOT, Brooklyn Borough President, and the Parks Department – it seems like it will only be a matter of time till the project moves forward. We can expect to see a completely new Camden Plaza, underground parking, retail spaces, cafes, more bike lanes, and pedestrian plazas.