A $57 million renovation project is now underway at McCarley Gardens, a 15-acre affordable housing complex in Buffalo, New York. Planned renovations will focus on improving the property’s energy efficiency, quality of life for the residents, and existing infrastructure.
Developers have reported more than 80 percent of inventory leased at 351 Marin Boulevard, a new 38-story rental property in Jersey City, some three months after hitting the market. Developed in collaboration by Kushner Real Estate Group and Northwestern Mutual, the tower contains 507 rentals ranging from studios up to two-bedroom homes.
Hot Bread Kitchen, a non-profit organization that offers culinary training and job placement programs, has revealed its new headquarters at Manhattan’s renowned Chelsea Market in Chelsea. The 10,000-square-foot space is located on the market’s sixth floor and features 18 stations for culinary education, administrative offices, and a spaces to facilitate Hot Bread Kitchen’s virtual small business incubator.
An affiliate of GFI Capital Resources has secured $195 million in refinancing for The Beekman, a historic landmarked hotel in Manhattan’s Financial District. The deal included a $130 million senior loan with Bank OZK arranged by Newmark and a $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.
Plank Road, a new residential property within Brooklyn’s Pacific Park redevelopment zone, is now more than 50 percent leased, according to developer The Brodsky Organization. Designed by Marvel Architects, the 27-story building is located at 663 Pacific Street in Prospect Heights and yields 312 rental apartments ranging from studios up to two-bedrooms. A total of 94 apartments are set aside as affordable housing. The lower levels of the building will also house a new public middle school.
