The affordable housing lottery has launched for 325 East 25th Street, a nine-story residential building in Kips Bay, Manhattan. Designed by SLCE Architects, the structure yields 56 residences. Available on NYC Housing Connect are 55 units for residents at 80 to 165 percent of the area median income (AMI), ranging in eligible income from $48,755 to $177,210.
SMA Equities recently secured a $56 million financing package to complete a new 20-story mixed-use building in Kips Bay, Manhattan. The project is located at 202 East 23rd Street and will eventually yield a mix of income-restricted and market-rate apartments and around 2,400 square feet of lower-level retail.
Full demolition permits have been filed for 429, 433, and 437 Second Avenue in Kips Bay, Manhattan. A single building with 160 feet of frontage encompasses the three adjacent lots on the southwest corner of Second Avenue and East 25th Street.
Curtain wall installation is progressing on Hillrose 28, a 20-story residential building at 157-161 East 28th Street in Kips Bay. Designed by C3D Architecture and developed by Forkosh Development, the 191-foot-tall structure spans 66,125 square feet and will contain 43 units designed by Lemay + Escobar and marketed by Corcoran Sunshine.
Construction on VU, aka 368 Third Avenue, continues to move forward as the new condominium development gets ready to launch sales in the coming months. It is the tallest new residential building in the vicinity at 410-feet-tall and features a 36-story reinforced concrete structure. VU is located in the Manhattan neighborhood of Kips Bay and provides unobstructed views of Midtown, Lower Manhattan, and the East River. The interiors and amenities are designed by Paris Forino and SLCE is the architect. Developed by Minrav Development, the 145,000-square-foot superstructure will yield 100 apartments which will include studios to three-bedrooms. YIMBY recently got to check out the building.