Construction Update

Rendering of 1515 Surf Avenue - Studio V Architecture

1515 Surf Avenue Continues its Ascent in Coney Island, Brooklyn

Construction is rising on 1515 Surf Avenue, a two-tower residential complex in Coney Island, Brooklyn. Designed by Studio V Architecture and developed by LCOR, the project consists of 26- and 16-story structures that will span 470,000 square feet and yield 461 units, with 139 designated for affordable housing, as well as 11,000 square feet of ground-floor retail space. Surf Avenue L/CAL LLC is the owner and LRC Construction is the general contractor for the property, which rises from a 1.5-acre plot bound by Surf Avenue to the south, West 15th Street to the east, and West 16th Street to the west.

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Façade Installation Progresses on 2230 Cropsey Avenue in Gravesend, Brooklyn

Construction has topped out on 2230 Cropsey Avenue, a 30-story residential building in Bath Beach, Brooklyn. Designed by Hill West Architects and developed by Cropsey Partners LLC, the 356-foot-tall structure will span 280,000 square feet and yield 248 rental apartments, community space, and 170 parking spaces. NY Developers is the general contractor for the project, which is alternately addressed as 1625 Shore Parkway and located between Cropsey Avenue and Belt Parkway.

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125 Greenwich Street Lands $313 Million to Finish Construction in Manhattan’s Financial District

Fortress Investment Group, Bizzi & Partners, and U.S. Immigration Fund have closed on $313 million in construction financing to complete 125 Greenwich Street, a stalled 88-story residential skyscraper in Manhattan’s Financial District. Designed by Rafael Viñoly Architects, the 912-foot-tall structure is planned to yield 273 condominium units with interiors by March & White and marketing by Douglas Elliman Marketing Development, which is aiming to launch sales this fall. The loan was provided by Northwind Group, a debt fund manager headquartered in New York City. Work will resume with Time Square Construction and Plaza Construction jointly managing contracting duties for the property located at the corner of Greenwich and Thames Streets, just south of the World Trade Center complex and Liberty Park.

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Façade Work Continues on BIG’s One High Line at 500 West 18th Street in Chelsea, Manhattan

Façade installation continues on One High Line, a two-tower mixed-use complex at 500 West 18th Street in Chelsea, Manhattan. Designed by Bjarke Ingels Group and developed by Witkoff Group and Access Industries, the 900,000-square-foot project consists of 36- and 26-story towers rising from a shared podium and will yield 236 condominium units, a hotel component, ground-floor retail space, and a public plaza. Witkoff purchased the property, formerly known as The XI, in a foreclosure sale for $900 million and partnered with Access Industries and Monroe Capital to complete the once-stalled development. Suffolk Construction is the new general contractor, Enzo Enea is the landscape architect, and Corcoran Sunshine Marketing Group is handling sales and marketing for the project, which is alternately addressed as 76 Eleventh Avenue and stands adjacent to the High Line on a plot bound by West 18th Street to the north, West 17th Street to the south, Tenth Avenue to the east, and West Street to the west.

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