A new ten-year lease extension was recently signed by commerce media company Criteo at 387 Park Avenue South, a 13-story office building located in NoMad, Manhattan. Owned by TF Cornerstone, the building is currently at full occupancy.
A new loan totaling $4 million has been brokered by HKS Real Estate Advisors for the retail component of One Vandam, a 14-story residential building at 180 Sixth Avenue in Soho, Manhattan. Designed by BKSK Architects, the property completed construction in 2014. The loan was issued by Emerald Creek Capital and sponsor is CRE8 Equities.
Construction has begun on La Olazul, a 13-story affordable and supportive housing development at 1940 Jerome Avenue in Mount Hope, The Bronx. Developed by Vaya Development and Westhab, the $81 million development will yield 115 units, including 69 supportive apartments, along with approximately 8,500 square feet of ground-floor commercial space.
The Pearl, a new 270-unit affordable housing development, has completed construction and yesterday celebrated its ribbon cutting at 475 Bay Street in Stapleton, Staten Island. Developed by BFC Partners and Selfhelp Realty Group, the 12-story building boasts 138 apartments specifically reserved for formerly unhoused seniors with on-site supportive services, as well as retail space. It was designed by GF55 Architects, and cost approximately $155 million to build.
Below-grade work is progressing at 265 Weirfield Street, the site of a five-story residential building in Bushwick, Brooklyn. Developed by Weirfield Residence LLC, the property is situated on two adjacent lots, 263 and 265 Weirfield Street, for a total width of approximately 40 feet.
