LISC NY and MURAL Real Estate Partners have finalized a $24.7 million construction loan for two projects on Hillside Avenue between 161st Street and 162nd Street in Jamaica, Queens. The funding, which is the largest in LISC NY’s history, will help to construct more than 230 affordable housing units and approximately 20,000 square feet of retail space in Jamaica.
Construction has topped out at 311 Eastern Parkway, a new eight-story residential building in Crown Heights, Brooklyn. When complete, the project will stand 75 feet tall and boast five condominium units across eight floors. The project was designed by Bowerbird Architects and is being developed by Harpia, a Brooklyn-based company with a focus on sustainability and impact investing.
The Yonkers Industrial Development Agency recently finalized its approval for financial incentives to support the construction of Teutonia Hall, a residential development consisting of two 41-story towers at 4 Buena Vista Avenue in Yonkers. Designed by S9 Architecture and developed by AMS Acquisitions, the $458 million project will yield 906 residential units, with 91 reserved for affordable housing, as well as 2,900 square feet of ground-floor retail space and a 907-vehicle parking garage within the six-story podium at the base of the towers.
Slate Property Group, in collaboration with Grobman Gross Properties, has finalized a $97 million refinancing deal for The Yellowstone, a recently completed 11-story residential building at 69-65 Yellowstone Boulevard in Forest Hills, Queens. The refinancing, which will be provided by Apollo Global Real Estate Management L.P., will be used to settle the building’s existing debts and support its financial structure.
