Goldman Sachs

550 Tenth Avenue Nears Completion in Hell’s Kitchen, Manhattan

8:00 am on June 11, 2024 By Michael Young

Construction is nearing completion on 550 Tenth Avenue, a 520-foot-tall residential skyscraper in Hell’s Kitchen. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the 47-story structure will span 430,000 square feet and yield 453 rental units, with 137 reserved for affordable housing, as well as 9,000 square feet of lower-level retail space, over 20,000 square feet of amenities, and 26,764 square feet of administrative office space for Covenant House. GO Covenant LLC is the owner of the property, which is located along Tenth Avenue between West 40th and 41st Streets.

Updated rendering of 500 Main Street - Niles Bolton Associates; BRP Companies

500 Main Street Progresses in Downtown New Rochelle, New York

7:30 am on February 27, 2024 By Michael Young and Matt Pruznick

Construction is moving along on 500 Main Street, a 26-story mixed-use tower in downtown New Rochelle, New York. Designed by Niles Bolton Associates and developed by BRP Companies and the Urban Investment Group of Goldman Sachs Asset Management, the $200 million project will span 620,000 square feet and yield 477 rental apartments in studio to two-bedroom layouts, with 119 units dedicated to affordable housing, as well as 20,000 square feet for the New York Covenant Church, 2,000 square feet of retail space, and a 429-vehicle parking garage with electric vehicle charging stations. Skycore Builders Inc. is the general contractor for the development, which is being built on a 22,500-square-foot corner lot at the intersection of Main and Church Streets.

550 Tenth Avenue Tops Out in Hell’s Kitchen, Manhattan

8:00 am on December 17, 2023 By Michael Young and Matt Pruznick

At number 15 on our year-end countdown of the tallest buildings under construction in New York is 550 Tenth Avenue, a 520-foot-tall residential skyscraper in Hell’s Kitchen. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the 47-story structure will span 430,000 square feet and yield 453 rental units, with 137 reserved for affordable housing, as well as 9,000 square feet of lower-level retail space, over 20,000 square feet of amenities, and 26,764 square feet of administrative office space for Covenant House. GO Covenant LLC is the owner and Monadnock Construction is the general contractor for the property, which is located along Tenth Avenue between West 40th and 41st Streets.

Work Resumes on 550 Tenth Avenue After Crane Collapse in Hell’s Kitchen, Manhattan

8:00 am on October 27, 2023 By Michael Young and Matt Pruznick

Construction resumes on 550 Tenth Avenue, a 47-story residential skyscraper in Hell’s Kitchen, Manhattan. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the rising 520-foot-tall structure will yield 430,000 square feet and 453 rental units, with 137 reserved for affordable housing, as well as 9,000 square feet of lower-level retail space, over 20,000 square feet of amenities, and 26,764 square feet of administrative office space for Covenant House. GO Covenant LLC is the owner and Monadnock Construction is the general contractor for the property, which is located along Tenth Avenue between West 40th and 41st Streets.

Rendering of 54 Crown Street designed by Hill West Architects in Crown Heights, Brooklyn

Developer Secures $233M to Complete 54 Crown Street in Crown Heights, Brooklyn

7:00 am on August 17, 2023 By Sebastian Morris

Carmel Partners landed a $233 million loan to complete a 17-story rental building at 54 Crown Street in Crown Heights, Brooklyn. Designed by Hill West Architects, the structure will contain 569 apartments, 182 enclosed parking spaces, around 7,500 square feet of ground-floor retail space, and a 1,500-square-foot community facility.

Rendering of 28-90 Review Avenue - Courtesy of Innovo Property Group; KSS Architects

JLL Arranges $354M Total Capitalization for Industrial Project at 28-90 Review Avenue in Long Island City, Queens

7:30 am on July 21, 2023 By Sebastian Morris

Innovo Property Group, represented by JLL Capital Markets, has secured $354 million in financing to complete a new industrial development at 28-90 Review Avenue in Long Island City, Queens. Total capitalization includes multiple financial packages for acquisition, construction, and development costs provided by Axos Bank, Cerberus Capital Management, and Goldman Sachs Asset Management’s Urban Investment Group.

Site Preparations Underway for Majestic at 540 DeGraw Street in Gowanus, Brooklyn

8:00 am on June 4, 2023 By Michael Young and Matt Pruznick

Crews are readying for excavation at the site of Majestic, a 12-story residential building at 540 DeGraw Street in Gowanus, Brooklyn. Designed by Handel Architects and developed by Domain Companies, Goldman Sachs Asset Management’s Urban Investment Group, Vorea Group, and Mega Development, the 146-foot-tall structure will span 244,882 square feet and yield 268 rental units with an average scope of 861 square feet, as well as 13,929 square feet of retail and office space and 45 enclosed parking spaces. Twenty-five percent of the apartments will be designated for affordable housing. Future Green Studio is the landscape designer and Mega Contracting Group is the general contractor for the property, which is alternately addressed as 537 Sackett Street and bound by DeGraw Street to the north, Sackett Street to the south, and Nevins Street to the west.

Façade Installation Begins on 550 Tenth Avenue in Hell’s Kitchen, Manhattan

8:00 am on May 27, 2023 By Michael Young and Matt Pruznick

Work is unfolding rapidly on 550 Tenth Avenue, a 47-story residential skyscraper in Hell’s Kitchen, Manhattan. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the 520-foot-tall structure will yield 430,000 square feet and 453 rental units, with 137 reserved for affordable housing, as well as 9,000 square feet of lower-level retail space, over 20,000 square feet of amenities, and 26,764 square feet of administrative office space for Covenant House. GO Covenant LLC is the owner and Monadnock Construction is the general contractor for the property, which is located along Tenth Avenue between West 40th and 41st Streets.

550 Tenth Avenue Rises Steadily in Hell’s Kitchen, Manhattan

8:00 am on April 7, 2023 By Michael Young

Construction is rising on 550 Tenth Avenue, a 47-story residential skyscraper in Hell’s Kitchen, Manhattan. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the 520-foot-tall structure will yield 430,000 square feet and 453 rental units, with 137 reserved for affordable housing, as well as 9,000 square feet of retail space, over 20,000 square feet of amenities, and 26,764 square feet of administrative office space for Covenant House. GO Covenant LLC is the owner and Monadnock Construction is the general contractor for the property, which is located along Tenth Avenue between West 40th and 41st Streets.

Aerial rendering of the Terminal logistics Center at 130-24 South Conduit Avenue in Jamaica, Queens

Developers Complete $136M Recapitalization of Terminal Logistics Center at 130-24 South Conduit Avenue in Jamaica, Queens

7:30 am on April 6, 2023 By Sebastian Morris

Triangle Equities has recapitalized the Terminal Logistics Center, a forthcoming warehouse and air cargo development at 130-24 South Conduit Avenue in Jamaica, Queens in a new joint venture with the Urban Investment Group within Goldman Sachs.

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