Plans for a new eight-story apartment building at 885 Grand Street in East Williamsburg are moving ahead after the joint venture of Lemle & Wolff Development Co. and Alphonso Milo secured a $12.85 million construction loan from Sterling National Bank. Today, YIMBY also has the first rendering for the project.
A new mixed-use condominium building is racing toward completion in the East Village of Manhattan. 24 2nd Avenue has topped out at the 10th story, with nearly all window installation now complete. Permits were filed for the structure in mid-2015, replacing East Village’s last gas station. AORE Capital is responsible for the development.
Delancey Street Associates has closed a deal for funding the construction of 180 Broome Street, on the Lower East Side. The capital comes from Wells Fargo and M&T Bank, along with equity from DSA and Goldman Sachs Urban Investment Group. The loan secures $200 Million out of the projected total construction cost of $300 million. Essex Crossing is being developed by Delancey Street Associates, which is comprised of BFC Partners, L+M Development Partners, Taconic Investment Partners, and Goldman Sachs.
The last time YIMBY reported on progress at 23 Park Row, on the northern edge of the Financial District directly across from City Hall Park, excavation work had mostly wrapped, and foundation pouring had just begun. Four months later, concrete for the base of the soon-to-be 54-story tower has mostly wrapped, and formwork has breached street level, signaling the skyscraper’s rise is about to begin in earnest.
Last week, YIMBY was the first media outlet to be given a tour of the sales gallery and construction site of the 55-story skyscraper at 277 Fifth Avenue, in Nomad, Manhattan, a project which we have reported on extensively over the past several years. Designed by Rafael Viñoly, the high-rise is currently on its 46th floor, with only nine to go before topping-out occurs. After a nerve-racking elevator ride outside of the building, we stepped out to what is currently its highest floor, which already offers expansive views of the New York City skyline.