8:00 am on January 17, 2025 By Michael Young and Matt Pruznick

Façade Installation Progresses at 28 Herbert Street in Williamsburg, Brooklyn

Exterior work is progressing on 28 Herbert Street, a six-story mixed-use building in Williamsburg, Brooklyn. Designed by Pinner Architecture and developed in a collaboration between Pinner Development Group & Verde Development Group, the 75-foot-tall structure will span 31,600 square feet and yield 16 condominium units with an average scope of 1,259 square feet, as well as 6,250 square feet of community facility space, 4,600 square feet of ground-floor retail, and below-grade parking for nine vehicles. The property is located at the corner of Herbert and Humboldt Streets.

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Rendering of Charlie residential project. Courtesy of LCOR

‘Charlie’ Residential Tower Begins Construction at Hoboken Connect in Hoboken, New Jersey

7:30 am on January 17, 2025 By Max Gillespie and Matt Pruznick

Construction has begun on Charlie, a 27-story residential building within Hoboken Connect at NJ Transit’s Hoboken Terminal in Hoboken, New Jersey. Designed by Salas O’Brien and Allied and developed by LCOR, the 365,000-square-foot structure will yield 386 units, with 20 percent designated as affordable housing, as well as ground-floor retail space.

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Rendering of The Estela. Designed by S9 Architecture

Financing Closes for Estela at 414 and 445 Gerard Avenue in Mott Haven, The Bronx

6:30 am on January 17, 2025 By Vanessa Londono

Developer The Domain Companies announced today the closing of $218.6 million in financing for Estela, a two-building development in Mott Haven, The Bronx. The 11-story buildings at 414 and 445 Gerard Avenue yield 544 market-rate and affordable housing units and 10,000 square feet of ground-floor retail space. Freddie Mac’s Forward Commitment program provided long-term permanent financing through JLL Real Estate Capital. The Urban Investment Group at Goldman Sachs Alternatives led the Opportunity Zone equity financing for the mixed-income, mixed-use project.

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Union Channel Nears Completion At 240 Third Avenue in Gowanus, Brooklyn

8:00 am on January 16, 2025 By Michael Young and Matt Pruznick

Construction is wrapping up on Union Channel, a nine-story residential building at 240 Third Avenue in Gowanus, Brooklyn. Designed by Fogarty Finger and developed by Tavros Capital and Charney Companies, the 95-foot-tall structure will span 210,000 square feet and yield 224 rental units in studio to three-bedroom layouts, along with 8,900 square feet of ground-floor commercial space. Twenty-five percent of the apartments will be designated for affordable housing. The property is alternately addressed as 585 Union Street and bound by Sackett Street to the north, Union Street to the south, and 3rd Avenue to the east.

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