Slate Property Group and RiseBoro Community Partnership have completed the acquisition of the former JFK Hilton Hotel at 144-02 135th Avenue in South Jamaica, Queens, paving the way for a landmark affordable housing project. This initiative marks the first-ever conversion of a former hotel into permanently affordable housing under New York’s Housing Our Neighbors with Dignity Act (HONDA).
New renderings have been revealed for Pearl House, an office-to-residential conversion project by the Vanbarton Group at 160 Water Street in the Seaport neighborhood of Manhattan. The project, designed by Gensler, features an acre of amenities, both indoors and outdoors. Compass Development Marketing Group is the exclusive leasing and marketing partner for this project.
Governor Kathy Hochul has announced the winning plan for the redevelopment of Manhattan’s former Lincoln Correctional Facility at 31-33 West 110th Street in Harlem. Named the Seneca project, the project aims to transform the site into an affordable housing development with 105 units. The $90 million initiative, led by Infinite Horizons, L+M Development Partners, Urbane, and Lemor Development Group, is part of the state’s broader strategy to alleviate New York’s housing crisis.
EJS Group, in partnership with Hope Street Capital, have successfully closed on a $108.15 million construction financing package for their upcoming residential development at 12 Halsey Street in Bedford-Stuyvesant, Brooklyn. This project, also referred to as 1215 Fulton Street, is part of the Affordable New York Program and comprises three buildings with approximately 240 rental units, with 30 percent allocated as affordable housing.
Industry City, a 35-acre mixed-use complex along the Sunset Park waterfront in Brooklyn, has announced four new lease signings. Kinolime, Dowbuilt, Prudential Insurance, and KYHA Studios will occupy a combined 15,282 square feet through Industry City’s flexible leasing policy, which allows tenants to secure additional space if needed in the future.
