Vault Development Partners and TLM Equities have closed on a $20.1 million construction loan to complete a condominium development on Manhattan’s Lower East Side. Located at 66 Clinton Street, the building will top out at seven stories and eventually contain 12 apartments and a collection of amenity spaces.
WBP Development and LMXD, an affiliate of L+M Development Partners, are celebrating a big win for their latest high-rise residential project in New Rochelle. Stella, located at 10 LeCount Place and designed by Beyer Blinder Belle, was named Best Luxury Multifamily Development as part of the Westchester Home Builders Awards program. The program is run by Westchester Magazine and recognizes superlative residential developments in Westchester County.
Plans to construct the 10.5-acre Urban Village mega-complex in East New York, Brooklyn, are now under review by the New York City Department of Buildings. The complex is being developed by Gotham Organization, Monadnock Development, and the Christian Cultural Center and is bound by Pennsylvania Avenue to the northeast, Flatlands Avenue to the northwest, and Louisiana Avenue to the southwest.
In December, SL Green announced a partnership with Roc Nation in a bid to win development rights to construct a new Caesars Palace casino and hotel at 1515 Broadway in Times Square, Manhattan. Citing concerns about congestion, economic disturbance, and social harm, a group of community associations and neighboring businesses have formed a coalition to oppose any advancement on the proposed casino.
Elmo Realty recently closed on a $26 million loan to finance the construction of an eight-story mixed-use building at 2535 Frederick Douglass Boulevard in Harlem, Manhattan. When complete, the property will comprise nearly 24,000 square feet of 53 rental apartments and commercial space.
