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NYguy

Mar 20, 2014 10:09 PM

NEW YORK | 1 Beekman Street (33-34 Park Row) | 335 FT | 25 FLOORS

All I know is J&R better not close.

http://www.masseyknakal.com/listings...aspx?lst=22653

1 Beekman (33-34 Park Row)

Quote:

Massey Knakal Realty Services has been retained on an exclusive basis to sell the Pearl on the Park, a development site at 1 Beekman Street (aka 33-34 Park Row). The property is located on the corner of Park Row and Beekman Street where Lower Manhattan’s Financial District and TriBeCa intersect.

There are a few parks in Manhattan south of 59th Street. The luxury properties that are lucky enough to be located on these parks enjoy rental and sale premiums far beyond their counterparts on side streets. For the first time in over 40 years, 1 Beekman Street (aka 33-34 Park Row) is for sale. Pei Cobb Freed & Partners, the world renowned architectural firm, has prepared a preliminary architectural design.

The site features approximately 58.54 feet of frontage facing City Hall Park and 53.67 feet on Beekman Street. Theater Alley runs another 86.85 feet directly behind the property, thus the site is effectively a block front which could have windows on at least three sides. Truly, this is a chance for a developer to make their mark downtown and offer the product that this neighborhood has been waiting for.

http://www.masseyknakal.com/listingi..._SlideShow.JPG

http://ny.curbed.com/archives/2014/0...xury_tower.php

Park Row Site Could Fetch $50M, House This Luxury Tower

http://ny.curbed.com/uploads/Massey%...%20Row%202.JPG

March 20, 2014
by Hana R. Alberts

Quote:

A large development site east of City Hall Park is being marketed to buyers as a potential location for some future FiDi residential tower—as if there aren't enough going up in the area already. Massey Knakal has the official listing for 1 Beekman Street, also known as 33-34 Park Row.

If bought, the lot, which houses two low-rise buildings, would change hands for the first time in 40 years. To help with the visualization process, MK offers buyers two renderings by I.M. Pei's Pei Cobb Freed & Partners Architects of a glassy tower on the spot that makes use of the potential 87,300 buildable square feet.

The Post first reported the opportunity yesterday, projecting that the site could sell for more than $50 million. Tribeca Citizen reports a rumor that veteran electronics store J&R is closing, citing "the value of Manhattan real estate vs. the state of brick-and-mortar retail" and portending even more change for this stretch.

If the right developer takes the bait, could we have another (slightly smaller) New York by Gehry on our hands, and the beginning of a Park Row development boomlet?

scalziand

Mar 20, 2014 10:29 PM

The building on the corner is no architectural loss, but it will be a shame to lose the little terracotta gem next to it.

NYguy

Apr 10, 2014 12:09 PM

Quote:

Originally Posted by NYguy (Post 6504544)

All I know is J&R better not close.

I didn't even know this was happening. Seems like it wasn't that long ago they did work on the store.

http://www.nytimes.com/2014/04/10/ny...s&emc=rss&_r=0

J & R Closes Manhattan Store for a Redesign

By ASHLEY SOUTHALL
APRIL 10, 2014

Quote:

J & R Music and Computer World, a mainstay music and electronics store in Lower Manhattan for 43 years, closed its doors on Wednesday to redesign its space on Park Row.

The move was foreshadowed in October, when the store scaled back its footprint between Ann and Bleekman Streets. Once occupying eight buildings on those blocks totaling 300,000 square feet, the business was resized to five floors each at 1 Park Row and 15 Park Row. Rachelle Friedman, who with her husband, Joseph, opened J & R across from City Hall in 1971, acknowledged at the time that as part of the changes they were laying off some employees.

A digital rendition included in the announcement on J & R’s website depicted the storefront at the corner of Ann Street and Park Row with a modern glass facade and the year 2015 written below it. A spokesman for the Friedmans, Matthew Hiltzik, said the couple hope to reopen the store next year, but a date has not been set and a design has not been finalized.

The store, whose closing was reported on Wednesday evening by The Daily News, said in the announcement that it needed to keep up with technology, retailing and real estate trends and that it would close “so that we can rebuild this location into what we hope will be an unprecedented retailing concept and social mecca.”

The closing leaves the company without a brick-and-mortar presence for the first time. An outpost at the Macy’s in Herald Square closed about two years ago amid a redesign at the department store, Mr. Hiltzik said. J & R will continue to sell merchandise online and on Amazon, he said.

I think I did more shopping online than in the store, so it's no wonder. But let's see what this means, if anything, for any tower planned at the other end.

http://www.jr.com/information/conten.../thankyou.html

http://www.jr.com/media/images/close...9840838932.jpg

http://www.jr.com/information/conten...celebrity.html

Crawford

Apr 10, 2014 12:14 PM

Looks like this development site might be expanding, except for that one J&R building on the corner.

NYguy

Apr 10, 2014 8:34 PM

Quote:

Originally Posted by Crawford (Post 6533203)

Looks like this development site might be expanding, except for that one J&R building on the corner.

That's what it looks like. The configuration of J&R was always somewhat confusing, you had to know which deparments were in what storefront. If they are going to consolidate under on roof, it would simplify things.

NYguy

Apr 21, 2014 9:46 PM

Potential partner if the sites are consolidated...

http://therealdeal.com/blog/2014/04/...-closed-store/

J&R finds partner to redevelop sites next to closed store
L+M to work on Park Row buildings that electronics seller uses for storage

April 21, 2014
By Mark Maurer

Quote:

L+M Development Partners is pairing up with the owners of J&R Music and Computer World to redevelop the retail properties on the same block as the iconic but now-closed electronics store, The Real Deal has learned.

The Ron Moelis-led L+M committed to a joint venture that will put together a proposal for the future development of 31 Park Row, and likely 23 Park Row, in Lower Manhattan. The store at 1-15 Park Row was shuttered last week after 43 years in business. J&R founders Joe and Rachelle Friedman plan to seek retail partners to redevelop that site. At this time, L+M’s role will not extend to the main site of the flagship store.

Plans for the store call for “an unprecedented retailing concept and social mecca,” the owners said in a memo. “In order to facilitate this exciting new initiative, the buildings that J&R occupies have to be totally reimagined and redeveloped.” The owner have not yet decided if an iteration of J&R Music and Computer World will be part of the new complex. Its electronics will continue to be sold online via Amazon.com and the J&R website.

NYguy

Dec 16, 2014 11:33 PM

http://therealdeal.com/blog/2014/12/...-site-for-52m/

Urban Muse buys FiDi development site for $52M

December 16, 2014
By Claire Moses

Quote:

Glauco Lolli-Ghetti’s Urban Muse bought 1 Beekman Street on the border of Tribeca and the Financial District for $52 million, according to property records filed with the city today.

The so-called “Pearl on the Park” site can hold between 73,000 and 87,300 buildable square feet, according to the listing with Massey Knakal Realty Services’ James Nelson and Will Suarez. When the site first hit the market, Pei Cobb Freed & Partners Architects created a concept rendering for the site, envisioning a glassy tower in the middle of the booming residential market. Condos in the area sell for $3,000 per square foot.

The site could hold a minimum of 48,500 square feet of residential space, or 52,200 square feet if 5,000 square feet of recreation space were created, according to the listing. The site also holds up to 14,550 buildable square feet that can be used for retail or commercial space. If the site receives a plaza bonus, it could allow for a project of up to 87,300 square feet.

C.	Dec 16, 2014 11:45 PM

Plaza Bonus? Are you kidding me? NYC zoning still encourages that garbage?

http://www.gothamgazette.com/landuse/feb.01.shtml

JR Ewing

Jul 6, 2015 2:36 AM

I walked by on Wed. and observed that the hardware store in the middle of this site is now clised. The building which housed it, 29 ParkRow, was sold last montm

Vertical_Gotham

Jul 6, 2015 8:01 PM

Full demo recently filed for both 1 Beekman and 33 Park Row.

JR Ewing

Jul 6, 2015 9:42 PM

That entire block is now vacant. I hope that one developer gets control of the whole site.

gttx	Jul 7, 2015 12:13 AM

Quote:

Originally Posted by CIA (Post 6846679)

Plaza Bonus? Are you kidding me? NYC zoning still encourages that garbage?

http://www.gothamgazette.com/landuse/feb.01.shtml

Yes, plaza bonus is still available in certain cases. But here it would not be permitted given the lot's adjacency to Park Row. See Special Lower Manhattan District regulations for more details.

sparkling

Jul 22, 2015 8:17 PM

Permits Filed: 25-Story Condo Building Planned At 1 Beekman Street

REBECCA BAIRD-REMBA
JULY 22, 2015

Quote:

Last year, Chinatown-based developer Urban Muse snapped up one of the last major development sites near City Hall, 1 Beekman Street, for $52 million. Now SLCE Architects has filed plans for a 25-story residential tower on the site, also known as 33-34 Park Row.

The development will reach 277 feet into the air right next to the 51-story condo tower at 5 Beekman Street and the landmarked, Queen Anne-style Temple Court. It will host 29 apartments spread across 58,331 square feet of residential space, yielding impressively sized units of 2,011 square feet a piece. Since 5 Beekman’s condos hit the market last year starting at $1,200,000 for a one-bedroom, it won’t surprise us if these turn out to be some of the neighborhood’s most expensive condos.

Most floors will have two units, and several units on the upper floors will be duplexes.

Roughly 14,000 square feet of retail will take up the first three stories, and five parking spots will be distributed between the cellar and fourth floor. Apartments on the fifth and 21st floors will have private terraces, and fifth floor will also have shared recreation space. One unusual feature listed on the Schedule A is a loggia, or a covered exterior corridor, on the 22nd floor. It might be meant as a tribute to the beautiful archways and columns that frame the atrium of Temple Court next door.

The property is currently home to two three- and six-story commercial buildings. Both were home to longtime electronics store J&R, which shut its doors suddenly in April 2014.

NY_YIMBY

TechTalkGuy

Jul 22, 2015 8:37 PM

I used to shop at J&R years ago.
Over the past recent years, my business went to B&H in Midtown.

I concur that the layout was a confusing mess.
Glad to know that redevelopment is a viable option.

We need something really good to be built across from City Hall.

Busy Bee

Jul 22, 2015 9:53 PM

SLCE... hmmmm.

chris08876

Jul 22, 2015 10:00 PM

Quote:

Originally Posted by TechTalkGuy (Post 7104127)

Same with me. Use to be a J&R fan, but then I discovered the golden elixir of electronics... B&H. Only downside is that its closed on Saturdays because most of the employees (95%) are orthodox jews. Good place... and you can haggle with them. Some don't know that, but it works. Got an external hard drive 10% off by doing that. ;)

With J and R, when I was in University (Rutgers Newark), use to go there and also B and H when I had those 4 hour long breaks between classes to play video games. They had all the good titles too for the PC, full games, for free.

Theres also the gamestop in Herald Square. Eh... but now I'm rambling. :haha:

But point being, for the price of a path ticket, you can have a lot of fun in NYC for cheap. Its the gift that keeps giving. Never a dull day.

JR Ewing

Jul 22, 2015 11:03 PM

Quote:

Originally Posted by TechTalkGuy (Post 7104127)

All of the J&R buildings and the hardware store in the middle of the site are Empty now. I had hoped that one developer would get them all. Instead, it niw appears that at least 2 tiwrrs will rise on that site.

TechTalkGuy

Jul 23, 2015 3:13 AM

Quote:

Originally Posted by chris08876 (Post 7104219)

But point being, for the price of a path ticket, you can have a lot of fun in NYC for cheap. Its the gift that keeps giving. Never a dull day.

They really did have the best deals in town! :cheers:
But don't forget Century 21 on Church Street just a few blocks away. ;)

Quote:

Originally Posted by JR Ewing (Post 7104302)

Instead, it now appears that at least 2 towers will rise on that site.

Imagine the views from the Brooklyn Bridge, not to mention City Hall Park!

JR Ewing

Jul 23, 2015 3:19 AM

I agree, Tech

Busy Bee

Jul 23, 2015 4:15 AM

Why is everyone talking like J+R is out of business? Aren't they closed temporarily before opening a consolidated store a few doors down?

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