10 delayed developments: two years or more with no permits, more than 3,000 units

By Atticus O’Brien-Pappalardo

PincusCo is taking a look into some of the largest developments planned around the city that have experienced a delayed path to receiving permits for construction.

The analysis looked at the 10 largest plans for new development, in terms of square footage, that were pre-filed at a minimum of two years ago which have not been issued permits by the New York City Department of Buildings. The analysis did not include any projects that had been withdrawn or disapproved.

The analysis does not intend to suggest that any of the following projects are distressed, rather it simply intends to identify projects that are slow to receive permits.

The 10 plans totaled 2.7 million square feet of proposed construction and over 3,000 dwelling units. Four of the plans were for new buildings in Manhattan, three were in Brooklyn, two were in Queens, and one was in the Bronx.

The largest plans came from the Durst Organization, and were filed on April 28, 2017. The new building application called for the construction of a 372-foot tall, 31-story, 355,095-square-foot mixed-use building with 358 dwelling units at 26-50 1st Street in Astoria. According to the original PW1 attached to the plans, the development site’s address was previously listed as 26-40 1st Street.

The development is part of the second phase of Durst’s Halletts Point, a $1.5 billion waterfront development in Astoria. The larger development will bring seven buildings, totaling 2.4 million square feet and around 2,000 rentals, of which roughly 480 will be affordable, per a report.

The plans were partially approved in November of 2017 but have not been issued any permits yet.

The second largest plans were filed by The Collective, a co-living real estate firm that is based in London, on June 27, 2019. The plans called for the construction of a 319-foot tall, 28-story, 296,367-square-foot mixed-use development with 551 dwelling units at 24 Boerum Street in Williamsburg, Brooklyn. The plans were approved in November of 2020 but have not yet received any permits.

According to the plans, the dwelling units will be a mix of apartments and hotel rooms. A report from Brownstoner stated that the complex will cost $450 million to develop.

The third largest plans were filed by Joel Braver’s Express Builders in early June of 2019. The plans called for the construction of a 197-foot tall, 19-story, 293,303-square-foot residential building with 562 dwelling units at 1580 Story Avenue in Soundview. The plans were partially approved the same year, in November of 2019, but have still not been permitted.

At the time the plans were filed, The Real Deal reported that they were the third-largest filing by square footage in the Bronx that year.

The fourth largest plans came from Richard Born, head of BD Hotels, back in August of 2016. The plans called for the construction of a 443-foot tall, 39-story, 280,037-square-foot, 350-unit residential building at 515 West 42nd Street in Hell’s Kitchen. The plans have been approved since November of 2017, but are currently permitless.

PincusCo wrote about the delayed project last year, which has run into several roadblocks, including a lawsuit between Gotham Organization and Born. The two entered into a joint venture soon after plans were disclosed, with Gotham taking responsibility for pre-development and charged with securing a construction loan, according to court filings.

Hudson Companies filed the fifth largest plans on September 17, 2018. The plans called for the construction of a 123-foot tall, 13-story, 279,034-square-foot mixed-use building with 343 dwelling units at 265 Logan Street in Cypress Hills. The plans have been approved since November of 2019, but have not been issued any permits yet.

The sixth largest plans also came from Durst, the only developer with two projects in the analysis. The plans, which were filed on April 28, 2017, called for the construction of a 277-foot tall, 26-story, 276,743-square-foot mixed-use building. There is some ambiguity about the number of dwelling units associated with the plans, as there are 27 listed, while the Schedule A indicates there will be more.

The plans, which are also part of the larger Halletts Point development, have also been partially approved but not permitted.

The seventh largest plans were filed by Bushburg properties in June of 2019. The plans call for the construction of a 145-foot tall, 14-story, 273,133-square-foot mixed-use development with 320 dwelling units at 268 Barbey Street, just behind the landmarked Empire State Dairy in East New York. The plans were approved this past May but have not received permits.

The development has the alternate address 2840 Atlantic Avenue. Some reports indicated that nonprofit firm HP Brooklyn Dairy Housing Development Fund Company was involved in the development. The architect’s website also indicated Moinian Group was involved.

Lexin Capital filed the eighth largest plans on March 9, 2015. The permit application called for the construction of a 498-foot tall, 40-story, 257,796-square-foot mixed-use building with 229 dwelling units at 75 Nassau Street in the Financial District. The plans have been partially approved since November of 2018 but remain permitless.

Yimby reported in 2019 that the lot was still vacant and scattered with debris.

The oldest plans analyzed have been active since late October of 2014, when they were filed by the previous owner of the property. The plans called for the construction of a 496-foot tall, 39-story, 249,045-square-foot mixed-use office building with 32 dwelling units at 131 West 23rd Street in Chelsea.

JHG Holdings then acquired the parcel, along with two others, for just over $50 million in the fall of 2016.

The original plans were partially approved in 2018 and remain open, however, they are yet to receive any permits.

The 10th largest plans were filed by Moinian Group on March 27, 2018. The application calls for the construction of a 462-foot tall, 38-story, 213,017-square-foot mixed-use building with 250 dwelling units at 7 Platt Street, just north of Battery Park City. The plans were partially approved in April of 2020 but remain without permits.