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.
Construction is now complete on Sven, a 762-foot-tall skyscraper at 29-37 41st Avenue in Long Island City, Queens. Also known as Queens Plaza Park, the 67-story tower is designed by Handel Architects for The Durst Organization and will yield a total of 958 rental units with interiors designed by Selldorf Architects. Three hundred units are set aside as affordable housing. Hunter Roberts is the general contractor and Jaros, Baum & Bolles Engineering administered the mechanical systems for the project, which is bound by Northern Boulevard to the east, Queens Plaza North and Dutch Kills Green to the south, and 41st Avenue to the west.
The Gotham Organization and RiseBoro Community Partnership have revealed amenity spaces at Gotham Point, a dual tower residential development in Hunters Point South, Queens. Amenities include include a rooftop terrace, sundecks, communal lounges, an indoor-outdoor fitness center, co-working space, a children’s playroom, and an urban rooftop farm and boathouse.
Permits have been filed for an 11-story mixed-use building with affordable housing at 540 Degraw Street in Gowanus, Brooklyn. Spanning the length of Nevins Street between Degraw Street and Sackett Street, the lot also addressed as 537 Sackett Street. The site is walking distance from the Union Street subway station, serviced by the R train. The Vorea Group is listed as the owner behind the applications.
The affordable housing lottery has launched for Gotham Point South Tower, a 33-story residential building at 57-28 2nd Street in Long Island City’s Hunters Point South. Designed by Handel Architects and developed by Gotham Organization and Riseboro Community Partnership, the 335,000-square-foot structure contains 452 residences. Available on NYC Housing Connect are 270 units for residents at 30 to 165 percent of the area median income (AMI), ranging in eligible income from $15,806 to $244,200.
