A new project broke ground last week on a long-vacant plot of land located at 6 Saw Mill River Road in Westchester County. The property, formerly owned by Gasho of Japan, was recently acquired by Michael Pasqualini, an entrepreneur in the restaurant and hospitality industry. Pasqualini broke ground yesterday on the 2.8-acre plot, and plans to transform the site into Le Setai, an upscale event venue.
Impact Equities, a real estate development firm led by principal Joseph Leno, has recently entered into a contract to purchase 103 East 29th Street in NoMad, Manhattan. The purchase price is undisclosed, and the firm plans to close on the site by the end of 2024.
The New York City Council has officially approved the Bronx Metro-North Station Area Plan, the first neighborhood plan certified and approved under Mayor Eric Adams’ administration. The plan is designed to accompany four new Metro-North stations coming to the Bronx in 2027 and is expected to create approximately 7,000 homes, including permanently income-restricted affordable housing, and 10,000 permanent jobs, along with improved public spaces and enhanced access to mass transit.
Orion Astoria, a new residential development at 25-88 38th Street in Astoria, Queens, has officially completed construction and recently launched sales. The building was developed by Konstandinos “Gus” Vorillas, Thomas Ballis, and Chris Giannikouros. It was designed by Harriet Nikakis of Astoria-based HCN Architects.
JLL Capital Markets has arranged $52 million in construction financing for 133 East 55th Street, a new apartment building in Midtown East, Manhattan. The financing was secured on behalf of a joint venture between Rybak Development and BK Developers, with Emerald Creek Capital providing the funds.
