400 Capital Management, a global credit asset manager, is the latest company to join 660 Fifth Avenue in Midtown, Manhattan. The company’s office will occupy more than 25,000 square feet on the building’s 27th floor beginning August 2024.
Leasing has launched for The Arch, a 16-story residential building at 1101 President Street in Crown Heights, Brooklyn. Designed by Marvel Architects and developed by Brooklyn-based BFC Partners, the structure yields 323 rental units in studio to three-bedroom floor plans.
Construction has broken ground on Baez Place, a 154-unit affordable housing development at 334 East 176th Street in Claremont, The Bronx. Designed by ESKW Architects and developed by Community Access, the structure will comprise 105 studios, 21 one-bedrooms, 22 two-bedrooms, and six three-bedroom apartments. A total of 154 homes will be reserved for households at 30 to 80 percent area median income (AMI). The remaining 86 units will be available to the formerly homeless, who will also have access to on-site support services rendered by Community Access. Each apartment will come equipped with free broadband internet access.
New York City mayor Eric Adams and New York Governor Kathy Hochul recently announced phase one of the Clean Heat for All Challenge, an initiative to spur manufacturers of heating and cooling equipment to develop new energy-efficient systems for multifamily NYCHA properties. The investment arrives from the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority and will support the development and production of 30,000 new heat pumps for NYCHA buildings.
Construction is complete on Beach 21, a ten-story affordable housing building at 10-47 Beach 21st Street in Far Rockaway, Queens. Developed by The Community Builders with support from New York City’s Economic Development Corporation, Department of Housing Preservation and Development, and Housing Development Corporation, the structure yields 224 units reserved for New Yorkers earning 40 to 80 percent area median income (AMI) and 23 units for the formerly homeless, as well as 28,000 square feet of ground-floor retail and community space including a daycare center. The project is part of the city’s Downtown Far Rockaway Revitalization Plan and is located between Mott Avenue to the north and Cornaga Avenue to the south.
