The affordable housing lottery has launched for 25-18 32nd Street, a six-story mixed-use building in Astoria, Queens. The 7,081-square-foot masonry development yields seven units. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $61,715 to $159,640.
Excavation has begun at 55 Suffolk Street and 64 Norfolk Street, the site of Broome Street Development, a mixed-use complex on Manhattan’s Lower East Side. Designed by Dattner Architects and developed by Gotham Organization, the project encompasses two buildings spanning a combined 387,223 square feet that will yield 488 rental units, of which 43 percent will be dedicated to permanently affordable homes. Both buildings will rise by the intersection of Broome and Norfolk Streets.
Construction is complete on The Artisan, a 26-story residential building at 180 Broome Street on Manhattan’s Lower East Side. Designed by Handel Architects and developed by Delancey Street Associates, which is made up of BFC Partners, L+M Development Partners, Taconic Partners, The Prusik Group, and Goldman Sachs Urban Investment Group, the building contains 263 residences ranging from studios to three-bedroom apartments. The project is part of the 1.9-million-square-foot Essex Crossing master plan and is bound by Delancey Street to the north, Clinton Street to the east, Broome Street to the south, and Suffolk Street to the west.
Developer Eastone Equities is planning to develop an eight-story mixed-use residential building in Flushing, Queens. Located at 142-26 and 142-38 Roosevelt Avenue, the structure will hold 40,000 square feet of residential space, 33,000 square feet of commercial space, and two sub-grade levels of parking. This week Columbia Pacific Advisors Bridge Lending announced it has secured a $15 million loan to refinance the development.
Construction is nearing completion on the Le Meridien Hotel, a 21-story mixed-use tower at 292 Fifth Avenue in NoMad. The 187-key hotel rises 21 stories tall on a plot between West 30th and West 31st Streets, and is designed by Gene Kaufman Architect and developed by McSam Hotel Group, which purchased the site for approximately $42.4 million in March 2017.