New Developments in the News
OCTOBER 12, 2009
A downtown Deco icon sees a residential future, an uptown classic with modern touches begins marketing and a new transit center gets moving.
The new owner of the distinctive Art Deco skyscraper—it was designed in 1932—at 70 Pine Street, a formerAIG tower, has indicated that the top 48 floors of the building may be converted to condominium residences. Young Woo, head of Youngwoo & Associates, said Tuesday that he believed he can get $2,000 a square foot. Mr. Woo is the developer behind the Sky Garage project—residents can park their cars next to their apartments—at 200 11th Avenue, and was recently asked to join the development team for the Pier 57 project on the Hudson River.
Work continues on the Fulton Transit Center in Lower Manhattan, buoyed by $242 million in federal stimulus money that will enable the project to be finished on schedule–the current completion date is June 2014.
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