Loketch Group, the Joyland Group, and Meral Property Group have formed a joint venture to begin a new mixed-use project at 555 Broadway in Brooklyn. The address represents a large, wedge-shaped assemblage on the border of South Williamsburg and Broadway Triangle.
The affordable housing lottery has launched for 1543 Jesup Avenue, a five-story residential building in Mount Eden, The Bronx. Designed by ADB Associates and developed by Lefko Capital Group, the structure yields 21 residences. Available on NYC Housing Connect are seven units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $59,143 to $167,570.
YIMBY went on a tour of TSX Broadway, a 46-story hotel that topped out last week at 1568 Broadway in Times Square. Designed by Perkins Eastman and Mancini Duffy and developed by L&L Holding Company and Fortress Investment Group, the 470-foot-tall tower will yield 550,000 square feet with a 669-key hotel, retail space, restaurants, and a cantilevering outdoor performance stage that overlooks Times Square. The property is also home to the historic Palace Theatre, which will soon be raised by Urban Foundation and Engineering. PBDW Architects is restoring the interior of the theatre, and Pavarini McGovern is the general contractor for 1568 Broadway, which is located at the corner of Seventh Avenue and West 47th Street. The project is expected to cost around $2.5 billion.
Construction is finishing up on The Nevins Street Apartments, a residential building at 50 Nevins Street in Downtown Brooklyn. Designed by Dattner Architects and developed by Institute for Community Living (ICL), the project involved the gut renovation of a 95-year-old eight-story building and the construction of a ten-story volume along Schermerhorn Street that extends over the northeast corner of the original structure’s roof. The 114,000-square-foot property will yield 129 affordable apartments as well as mental health support services for low-income residents. Mega Contracting Group LLC is the general contractor and King Contracting Group built the masonry walls for the addition, which is located at the corner of Nevins and Schermerhorn Streets.
Caton Flats, a new 14-story affordable housing property in Brooklyn, is now the new home of the Flatbush Central Caribbean Marketplace. Located at 2123 Caton Avenue in Flatbush, the marketplace formerly existed as Flatbush Caton Market and was a neighborhood staple for more than 20 years.
