Dueling Developments: Office Space Along East Houston Rises in a Big Way
There are two commercial real estate developments advancing neck-and-neck along the northern border of SoHo. Both are progressing at quite a clip, and will no doubt further crowd the area.
Let’s take a look…
First up is 300 Lafayette, which bills itself as “cutting edge office & retail in historic SoHo.” As of this week, the superstructure sits at an approximate four-story height. It will eventually hit an apex of seven stories and boast 80,000 square-feet of office space. The building itself rises atop the former home of BP gas station. In fact, until that closure in 2016, the refueling depot was one of the longest continuously operated gas stations south of 14th Street. Since the 1930s, in fact. From 1976 through 2003, the site was the OG Gaseteria station (distributing Amoco gas).
The Porcelli family, which acquired the “Gasoline Alley” parcel in 1976 and founded Gaseteria, decided to instead redevelop the land. Both the Puck Fair bar and the gas station were quickly disposed of.
Meanwhile, one block away, Madison Capital, is busy with its own commercial endeavor at 606 Broadway. The firm previously purchased the 6,190 square-foot parcel from the city for $26 million, and teamed up with Vornado to construct the incoming six-story SoHo addition. Plans have apparently been underway since 2014. The construction will include “modern” office space and retail on the ground floor. The finished product will carry a total floor area of nearly 35,000 square-feet split between the commercial and retail spaces. Stores won’t be “big box,” though, thanks to a protracted fight with the community a couple years ago.
Its steel skeleton is closing in on topping out, reaching nearly six stories (by our estimation).