What's Going on at Katan's No-Go 6th Street Site?
Once upon a time, in a boom now past, Isaac Katan had plans to develop a 4th Avenue building half a block away from the Novo, which he also had a hand in. The 12-story, 107-unit project hasn’t seen any action on the DOB-permit front in more than a year, and nothing’s happened in real…
Once upon a time, in a boom now past, Isaac Katan had plans to develop a 4th Avenue building half a block away from the Novo, which he also had a hand in. The 12-story, 107-unit project hasn’t seen any action on the DOB-permit front in more than a year, and nothing’s happened in real life at the site since then, either. The only thing of note concerning the parcel this year, in fact, is that Property Shark recorded a lis pendens on it in January. Until now: A reader sent in the above photograph, noting that the site is has started sporting signs from the commercial brokerage Kalmon Dolgin that tout a “prime retail space.” Her questions, and ours: “Any thoughts on what might move in? Also on our minds: Why is it being sold as a retail site and not a development site?” Anyone know?
New Entry in the 4th Avenue Development Game [Brownstoner] GMAP DOB
Just walked by the other day. Someone wrote on the sign, “Construction sites like these ruin communities.” I’d have to agree.
It is still supposed to be a 12 story condo or rental. Katan is mostly out and Tona Development has taken over. They keep talking about getting financing, but nothing has happened yet.
Since it’s too late for stylish architecture on 4th Ave — most of what has gone up recently is pretty wrteched looking — could we at least get some decent retail? How about Crate and Barrel or CB2? If not Whole Foods, at least a Fairway, or Sahadi? What about a huge 2nd hand record store? Borders (well, I guess not, since they’re probably going out of business this year)? Anyway you get my drift.
I wish Whole Foods would look at some of these sites on 4th.
Katan has sold it to another developer.
i could see it being developed as a cheap ‘taxpayer’ site until things get better. A single story drive thru with a Duncan Donuts and a Domino’s Pizza. Then tear it down when the market recovers and build new condos.
Starbucks! Starbucks! j/k
Question: Do you think someone would really build “retail only” here? 1-2 stories, etc. with no residential on top?
Isn’t that what they tried on the other side of the street in front of Pep Boys and failed?
Prediction: another hole in the ground for awhile … Bummer.
Construction is slated to begin soon. Financing has just been arranged and the project is moving forward.