Excavation and early foundation work is steadily progressing at 354 West 52nd Street, an upcoming seven-story condominium property in Hell’s Kitchen, Manhattan. Designed by Architecture Outfit and developed by Cadence Property Group, HOH Capital Partners, and Deal Lake Capital, who also purchased the adjacent 360 West 52nd Street lot to the west as part of the project, the future 66-foot tall, 55,000-square foot structure will yield 32 units spanning one- to three-bedrooms, stretch nearly 92 feet along West 52nd Street and include a 20-foot wide private main entrance on West 51st Street. Titanium Construction Services, Inc. is the general contractor for the site, which is located between Eighth and Ninth Avenues.
New Jersey-based real estate investment firm BDP Holdings, in partnership with JLL, has unveiled plans for The Iris, a forthcoming commercial building at 641 Bloomfield Avenue in Montclair, New Jersey. Designed by Gensler, the 130,000-square-foot structure will yield 125,000 square feet of office space on the top three floors, along with 8,051 square feet of ground-floor retail space and 277 parking spaces.
Avery Hall has closed on a $72.5 million construction loan to complete a new 17-story rental property at 544 Carroll Street in Gowanus, Brooklyn. The loan, provided by TD Bank, was arranged by JLL Capital Markets on behalf of Avery Hall and co-developers Declaration Partners and Bridge Investment Group.
FOUND Study, a provider of affordable student and intern housing, now operates one of largest hotel-to-residential conversion projects in Manhattan history. Located at 525 Lexington Avenue in Turtle Bay, the landmarked building was completed in 1923 and is designed by Empire State Building architect Arthur Loomis Harmon.
Carmel Partners landed a $233 million loan to complete a 17-story rental building at 54 Crown Street in Crown Heights, Brooklyn. Designed by Hill West Architects, the structure will contain 569 apartments, 182 enclosed parking spaces, around 7,500 square feet of ground-floor retail space, and a 1,500-square-foot community facility.