Yesterday, major news was announced regarding Mary Anne Gilmartin’s departure from Forest City Ratner, as she joined forces with Robert Lapidus and David Levinson to form L&L MAG, a new venture that will draw on the talents of all three executives and a host of other talent. The firm also launched its new website, which features a fresh rendering of the full build-out of the Pacific Park mega-project, surrounding Barclay’s Center in Downtown Brooklyn, which has undergone substantive changes to its final appearance, including the addition of what could become one of the neighborhood’s tallest towers.
Articles by Nikolai Fedak
The West Side’s building boom has been nothing short of transformative over the past few years, resulting in two new residential buildings of over 1,000 units apiece. While The Moinian Group’s Sky opened in 2016, TF Cornerstone’s 606 West 57th Street is also closing in on the finish line. With leasing expected to begin in a few months, YIMBY has word that the tower has officially been named The Max, in honor of Max Elghanayan.
The Downtown Brooklyn residential boom has ranked among the most impressive growth spurts any neighborhood has seen in the history of the Five Boroughs, and now, plans have been submitted to the Landmarks Preservation Commission at the periphery of the boom, in Clinton Hill. There, at 550 Clinton Avenue, Morris Adjmi Architects is designing a new 29-story residential tower, which went before the LPC for review yesterday.
Yesterday, YIMBY brought you news of the stabilization of the city’s new development pipeline through the end of 2017. Echoing the end-of-year positivity, 2018 has already brought one major new development to light, on Surf Avenue in Coney Island. Today, we have the latest on an even larger project coming to Harlem, with the reveal for the first rendering of the massive expansion proposed for Lenox Terrace, which would eventually yield over 1,600 new apartments by the time of full build-out.
Last year, YIMBY’s pipeline report showed a dramatic decrease in new building filings, with 2015’s multi-family count of 32,702 units falling precipitously, to 19,356 in 2016. Fortunately, the hemorrhaging of pipeline additions has nearly come to a complete stop, and 2017 saw filings for 19,180 multi-family units, a drop of under one percent. The full report, covering all 2,030 new building applications filed last year, is downloadable in Excel format at the following link.