City to Boost Affordable Construction [Crain’s New York]: The New York City Housing Development Corp. will issue $500 million to help “finance 2,795 units of affordable housing” across 18 developments. Funds will be help the construction of 1,259 units, and the renovation or preservation of another 1,536 apartments. Notable projects include portions of the Greenpoint Landing development and 261 Hudson Street, pictured above.
112 Atlantic Avenue [Commercial Observer]: Henry Atlantic Partners has bought a gas station on the southeast corner of Atlantic Avenue and Henry Street — 112-118 Atlantic Avenue, in Cobble Hill — for $7.75 million. The parcels have about 23,500 square feet of buildable potential which “is expected to be developed into a residential project.”
157 Empire Boulevard [Commercial Observer]: Another Brooklyn gas station has been bought for $3.1 million, at 157 Empire Boulevard in Crown Heights. The broker of the transaction has stated that “it’s going to be a development site,” likely measuring approximately 32,000 square feet.
516 8th Street [Brooklyn Daily Eagle]: The New York Methodist Hospital expansion — which would be constructed at 516 8th Street, in Park Slope — is being put to a vote for a variance that would allow the building to rise 152 feet above the street and span 500,000 square feet. If passed, the hospital would be demolishing “more than a dozen townhouse-style buildings” on the block.
20 Sullivan Street [Curbed]: Developers Madison Equities and Property Markets Group are constructing four, four-story brick townhomes at 20 Sullivan Street in SoHo. Designed by Cary Tamarkin, the townhouses are a welcome addition to the previously vacant parcel.
175 East 125th Street [NY Daily News]: The Salvation Army is planning to build affordable senior housing at 175 East 125th Street in East Harlem; the plot of land is currently home to their two-story Army Corps Community Center.
175-225 3rd Street [The Real Deal]: Developers Kushner Companies and LIVWRK are in the process of buying a Gowanus development site that “allows for a commercial mixed-use project of up to 300,000 square-feet.” The block-long site stretches from 175 to 225 3rd Street, and is expected to go for “between $70 and $80 million.” The mostly bare plot of land could potentially yield over one million square feet of new development.
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