The affordable housing lottery has launched for 509 Third Avenue, a 36-story mixed-use building in Murray Hill, Manhattan. Designed by Ismael Leyva Architects and developed by Lalezarian Properties, the structure yields 229 residences. Available on NYC Housing Connect are 58 units for residents at 40 to 130 percent of the area median income (AMI), ranging in eligible income from $29,040 to $187,330.
The affordable housing lottery has launched for 440 East 115th Street, a six-story residential building in East Harlem, Manhattan. Designed by Sion Associates, the structure yields 15 residences. Available on NYC Housing Connect are five units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $51,429 to $187,330.
Vault Development Partners and TLM Equities have closed on a $20.1 million construction loan to complete a condominium development on Manhattan’s Lower East Side. Located at 66 Clinton Street, the building will top out at seven stories and eventually contain 12 apartments and a collection of amenity spaces.
In December, SL Green announced a partnership with Roc Nation in a bid to win development rights to construct a new Caesars Palace casino and hotel at 1515 Broadway in Times Square, Manhattan. Citing concerns about congestion, economic disturbance, and social harm, a group of community associations and neighboring businesses have formed a coalition to oppose any advancement on the proposed casino.
Elmo Realty recently closed on a $26 million loan to finance the construction of an eight-story mixed-use building at 2535 Frederick Douglass Boulevard in Harlem, Manhattan. When complete, the property will comprise nearly 24,000 square feet of 53 rental apartments and commercial space.
