Below-grade work is progressing at 241 West 28th Street, a 22-story, 479-unit residential project in Chelsea. Designed by COOKFOX for MAG Partners, Atalaya, Safanad, and Qualitas, the two-tower development recently acquired $173 million in construction financing arranged by Maverick Commercial Properties. MAG Partners acquired the Midtown, Manhattan property in December 2018 and established a 99-year ground lease with Edison Properties. 241 West 28th Street is located between Seventh and Eighth Avenues and will have 30 percent of residential units reserved for low- and middle-income households. Urban Atelier Group is the general contractor.
The affordable housing lottery has launched for Betances Senior Residence, a Passive House senior housing building at 445 East 142nd Street in Mott Haven, The Bronx. The 12,000-square-foot development is designed by COOKFOX Architects and is developed by Breaking Ground. Available on NYC Housing Connect are 78 units for residents at 50 percent of the area median income (AMI), ranging in eligible income from $0 to $53,700.
MAG Partners is teaming up with affordable housing cooperative Penn South to redevelop 335 Eighth Avenue in Chelsea, Manhattan. The new seven-story mixed-use building will include ground-floor commercial space and 200 residential units with affordable housing for low- and middle-income residents. COOKFOX is designing the 200,000-square-foot structure.
Sales recently launched for 378 West End Avenue, and the brick exterior for COOKFOX’s topped out 18-story project is quickly rising. Alchemy Properties is developing the Upper West Side residential complex, which incorporates the adjacent restoration of a 1915 Palazzo-style building located at the corner of West End Avenue and West 78th Street, and sits to the north of the abutting Collegiate Church. Inside 378 West End Avenue will be 58 one- to six- bedroom residences, including a collection of penthouses with pricing upon request, pre-war proportions, high ceiling heights, and oversized windows. Prices for one-bedrooms start at $1,795,000, two-bedrooms for $3,525,000, three-bedrooms for $5,550,000, four-bedrooms for $6,995,000, and five-bedrooms for $9,895,000. Alchemy Properties and Compass are working together to market the condominiums.
Excavation is progressing at 561 Greenwich Street, the site of a 19-story, 260,000-square-foot commercial building in Hudson Square. Designed by COOKFOX Architects and developed by Hines and Trinity Church Wall Street, the project will yield 199,353 square feet of newly built office space. The site is located between King Street and Charlton Street.