SMA Equities recently secured a $56 million financing package to complete a new 20-story mixed-use building in Kips Bay, Manhattan. The project is located at 202 East 23rd Street and will eventually yield a mix of income-restricted and market-rate apartments and around 2,400 square feet of lower-level retail.
The affordable housing lottery has launched for The Gilroy, a 40-story tower at 232 East 54th Street in Midtown East, Manhattan. Designed by Ismael Leyva, the Art Deco-inspired high-rise yields 130 units. Available on NYC Housing Connect are 40 units for residents at 70 to 130 percent of the area median income (AMI), ranging in eligible income from $45,566 to $167,570.
Exterior work is complete on Eleven Hancock, a 12-story condominium building at 11 Hancock Place in South Harlem, Manhattan. Designed by Issac & Stern Architects for Norto Development, the property yields 71 units ranging from studio to four-bedroom layouts, as well as three floors of retail space on the lower levels.
Full demolition permits have been filed for 534-536 Third Avenue in Murray Hill, Manhattan. Robert Gilardian of Gilar Realty is listed as the owner under the Third Avenue Pavilion Residences LLC. Located at the intersection of Third Avenue and East 36th Street, the 9,875-square-foot site has approximately 99 feet of street frontage.
Earlier this week, Governor Andrew Cuomo and community leaders celebrated the commencement of construction on Circle of Heroes, a new monument in Battery Park City. The monument will honor the continuous dedication and sacrifices made by essential workers in New York State.
