National Resources has received $12.5 million in financing from CIT Real Estate Finance to begin construction of Phase II of The Pearl, on the southern end of Edgewater, New Jersey. Given what has already been built, three residential buildings of five or six stories are likely in the works; phase II will total 63 residential units, per Commercial Observer.
Property owner Ben Kaftari has filed applications for a nine-story, 50-unit mixed-use building at 172-02 Hillside Avenue, in Downtown Jamaica. The building will measure 57,750 square feet, with roughly 6,410 square feet counting towards community space, and another 4,400 square feet for commercial-retail. Frank Denner is designing, and an existing single-story auto-shop structure must first be removed.
Property owner Arne Mattsson has filed applications for a three-story, four-unit mixed-use building at the vacant lot at 210 Corson Avenue, in St. George on Staten Island. The building will measure nearly 3,500 square feet, and retail space on the first floor will span 1,160 square feet. Frank Vaccaro Architects and Engineers is designing.
GP Keystand LLC has filed applications for a five-story, 10-unit mixed-use building at 31-19 37th Avenue, in northern Long Island City. The project will span 10,200 square feet, with nearly 2,400 square feet designated for retail use, and Angelo Ng + Anthony Ng Architects Studio is designing. An existing single-story commercial building must first be demolished.
Brownstoner reports the Dime Savings Bank building in central Williamsburg, which is only a portion of a 50,000 square-foot assemblage, is now on the market as a development site. The other properties included are 257-275 South 5th Street, 146-150 Marcy Avenue, 209 Havemeyer Street, and 262 South 4th Street, and a 230,500 square-foot mixed-use development could be accommodated. Dime Savings Bank is seeking to keep their retail location in the existing two-story building at 209 Havemeyer Street.
