Construction Update

1299 Third Avenue Climbs Above Street Level on Manhattan’s Upper East Side

Construction is rising on 1299 Third Avenue, a 33-story residential tower on Manhattan’s Upper East Side. Designed by SLCE Architects and developed by Elad Group, which purchased the plot for $61 million in April 2022, the 420-foot-tall structure will yield 47 condominium units. Press Builders is the general contractor for the property, which is located between East 74th and East 75th Streets.

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262 Fifth Avenue

262 Fifth Avenue Continues Rapid Ascent in NoMad, Manhattan

Construction is continuing to rise on 262 Fifth Avenue, a 56-story residential skyscraper in NoMad, Manhattan. Designed by Meganom with SLCE Architects as the executive architect and developed by Boris Kuzinez of Five Points Development under the Five Points 262 Project LLC, the 860-foot-tall structure will yield 26 condominium units averaging 3,200 square feet apiece with at least one becoming a quadruplex. GEA Consulting Engineers is the MEP engineer and CM & Associates Construction Management is the general contractor for the project, which located on a 5,000-square foot property on the southwest corner of Fifth Avenue and West 29th Street.

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304 Water Street’s Expansion Progresses in Vinegar Hill, Brooklyn

Construction is progressing on 304 Water Street in Vinegar Hill, Brooklyn, where a two-story industrial structure is being expanded into a four-story residential building. Yatziv Corp. is the general contractor for the property, which was acquired by 304 Water LLC for $1.85 million in a deal brokered by Investment Property Realty Group. The 1,900-square-foot plot is located between Hudson Avenue to the east and Gold Street to the west.

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278 Eighth Avenue’s Brick Façade Progresses in Chelsea, Manhattan

Exterior work is progressing on 278 Eighth Avenue, a 14-story mixed-use building in ChelseaManhattan. Designed by FXCollaborative and developed by Alchemy-ABR Investment Partners and Chelsea 23rd Realty Corporation, an LLC affiliated with JJ Operating, the 175-foot-tall structure will yield 132,700 square feet with 190 rental apartments and multiple levels of retail space. Square Mile Capital and Pacific Western Bank provided $183 million in construction financing for the project, which is being constructed by Leeding Builders Group between West 23rd and West 24th Streets.

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69 Adams Street’s Façade Takes Shape in DUMBO, Brooklyn

Façade installation is moving along on 69 Adams Street, a 26-story residential building in DUMBOBrooklyn. Designed by Fariba Makooi of Fischer + Makooi Architects and developed by Rabsky Group, the 280-foot-tall structure will span 258,200 square feet and yield 225 units in studio to two-bedroom layouts, as well as 60 feet of retail frontage, a 25-foot-long rear yard, and 61 parking spaces. Galaxy Developers is the general contractor for the property, which is bound by Front Street to the north, York Street to the south, the elevated Manhattan Bridge roadway to the east, and Adams Street to the west.

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