The closing of construction financing was announced for a new 47-story mixed-use residential development at 550 Tenth Avenue in Hell’s Kitchen. The project is developed by Gotham Organization and Goldman Sachs Asset Management JV in a joint venture equity partnership, with Wells Fargo and US Bank providing a $212 million construction loan, and Lionheart Strategic Management providing $35 million in mezzanine financing.
Permits have been filed for a seven-story residential building at 128 West 167th Street in Highbridge, The Bronx. Located between Ogden Avenue and Nelson Avenue, the lot is within walking distance of the 167th Street subway station, serviced by the 4 train. Zev Mayer of Skyrock NYC is listed as the owner behind the applications.
The affordable housing lottery has launched for Plank Road Apartments, a 27-story residential building at 662 Pacific Street in the Pacific Park mega-development in Prospect Heights, Brooklyn. Designed by Marvel Architects and developed by The Brodsky Organization, the structure yields 312 residences. Available on NYC Housing Connect are 94 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $53,040 to $167,570.
Permits have been filed for an 11-story mixed-use building at 1010 Washington Avenue in Morrisania, The Bronx. Located between East 164th Street and Weiher Court, the lot is near the Intervale Street subway station, serviced by the 2 and 5 trains. Joel Landau of Emerald Developers is listed as the owner behind the applications.
Permits have been filed for a five-story mixed-use building with mixed-income housing at 975 Nostrand Avenue in Crown Heights, Brooklyn. Located between Empire Boulevard and Montgomery Street, the lot is two blocks from the Sterling Street subway station, serviced by the 2 and 5 trains. Sally Gilliland of Cadman Associates LLC is listed as the owner behind the applications. Earlier this year Hudson Companies purchased the site from Midwood Investment & Development for $41.5 million.
