New York YIMBY

Housing Lottery Launches for 550 Tenth Avenue in Hell’s Kitchen, Manhattan

6:30 am on August 27, 2024 By Vanessa Londono

The affordable housing lottery has launched for 550 Tenth Avenue, a 47-story mixed-use building in Hell’s Kitchen, Manhattan. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the structure yields 453 residences, over 20,000 square feet of amenities, 9,000 square feet of retail space, and 26,764 square feet of administrative office space for Covenant House. Available on NYC Housing Connect are 114 units for residents at 70 to 125 percent of the area median income (AMI), ranging in eligible income from $59,280 to $209,625.

Façade Reaches Pinnacle of JPMorgan Chase Headquarters at 270 Park Avenue in Midtown East, Manhattan

8:00 am on August 26, 2024 By Michael Young and Matt Pruznick

Façade installation has reached the roof parapet of JPMorgan Chase’s 1,388-foot supertall headquarters at 270 Park Avenue in Midtown East. Designed by Lord Norman Foster of Foster + Partners with Adamson Associates as the architect of record and developed by Tishman Speyer, the 60-story skyscraper will yield 2.5 million square feet of office space with a capacity of 15,000 employees, and will become the tallest structure in New York completely powered by hydroelectric energy. The property occupies a full city block bound by East 48th Street to the north, East 47th Street to the south, Park Avenue to the east, and Madison Avenue to the west.

31-48 Crescent Street Tops Out in Astoria, Queens

7:30 am on August 26, 2024 By Michael Young and Matt Pruznick

Construction is topped out on 31-48 Crescent Street, a seven-story residential building in Astoria, Queens. Designed by C3D Architecture and developed by Crescent Properties Development LLC, the structure will span 39,613 square feet and yield 25 rental units and accompanying amenities spread over 22,000 square feet. The property is located on an interior lot between 31st Road and 31st Drive.

Photograph from 'City of Yes' affordable housing announcement, via nyc.gov

Mayor Adams Issues Executive Order To Review City-Owned Land For Potential Housing Development

7:00 am on August 26, 2024 By Max Gillespie

New York City Mayor Eric Adams has announced the issuance of executive order 43, which requires city agencies to review their city-owned and controlled land for potential housing development sites. The executive order, which builds off the goals of the “City of Yes for Housing Opportunity” proposal, aims to support the Adams administration’s goal of building 500,000 new homes by 2032 to address the city’s affordable housing shortage.

Permits Filed for 430 St Marks Place in Brighton Heights, Staten Island

6:30 am on August 26, 2024 By Vanessa Londono

Permits have been filed for a five-story mixed-use building at 430 St Marks Place in Brighton Heights, Staten Island. Located between Fort Place and Victory Boulevard, the lot is near the Tompkinsville Staten Island Rail station. Medina Cami of AVC General Contracting LLC is listed as the owner behind the applications.

Demolition Wraps Up For Manhattan Detention Complex At 124-125 White Street In Chinatown, Manhattan

8:00 am on August 25, 2024 By Michael Young and Matt Pruznick

Demolition is finishing up at 124-125 White Street, the site of the Manhattan Detention Complex (MDC) in Chinatown, Manhattan. Led by design-build organization Gramercy Group Inc., the $2.13 billion project will replace the aging detention center known as “The Tombs” with a 15- to 17-story facility standing 295 feet tall and spanning 1.25 million square feet. The property is bound by Walker Street to the north, the Manhattan Criminal Court Building to the south, Baxter Street to the east, and Centre Street to the west. The demolition process is slated to cost $125 million.

Foundations Underway For 5055 Broadway in Inwood, Manhattan

7:30 am on August 25, 2024 By Michael Young and Matt Pruznick

Below-grade work is underway at 5055 Broadway, the site of an 11-story mixed-use building in Inwood, Manhattan. Designed by Fischer + Makooi Architects and developed by Timber Equities, the 155-foot-tall structure will span 50,808 square feet and yield 60 rental apartments in one- to two-bedroom layouts, with 25 percent dedicated to affordable housing, as well as amenities and ground-floor retail space. The 7,500-square-foot property is located between West 215th and 216th Streets and was once a surface-level parking lot.

Transitional housing property owned by Fundamental Advisors, via fundamental.com

Slate Property Group Closes $210 Million Refinancing Package For Transitional And Affordable Housing Portfolio

7:00 am on August 25, 2024 By Max Gillespie

Slate Property Group and Fundamental Advisors have closed on a $210 million refinancing package for their joint venture’s transitional and affordable housing portfolio. The transaction, designated as a social bond, was made possible by Freddie Mac in a first-of-its-kind engagement to provide liquidity to social impact financial institutions that bring affordable housing to low-income communities and underserved populations.

Housing Lottery Launches for 14-09 31st Avenue in Astoria, Queens

6:30 am on August 25, 2024 By Vanessa Londono

The affordable housing lottery has launched for 14-09 31st Avenue, a five-story residential building in Astoria, Queens. Designed by Carusone & Cherres Architects and developed under the 1409 Astoria LLC, the structure yields seven residences. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $87,429 to $181,740.

25 Water Street’s Residential Conversion and Expansion Progresses in Financial District, Manhattan

8:00 am on August 24, 2024 By Michael Young and Matt Pruznick

Construction progressing on 25 Water Street, a 32-story office-to-residential conversion and expansion in Manhattan’s Financial District. Designed by CetraRuddy and developed by GFP Real Estate, Metro Loft Management, and Rockwood Capital, the project involves the replacement of the building’s brick façade with a modern fenestration featuring more expansive windows, a gut renovation of its 1.1 million square feet of interiors, and the construction of ten new stories above its former parapet. The overhaul will yield 1,300 apartments, making it the largest office-to-residential conversion in US history by unit count, surpassing the 566-unit redevelopment of One Wall Street a few streets to the north. The property is bound by Water Street to the north, 2 New York Plaza to the south, the New York Vietnam Veterans Memorial to the east, and Broad Street to the west.

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