Naftali Group has secured a $236 million construction loan for 255 East 77th Street, a 36-story residential skyscraper on Manhattan’s Upper East Side. Provided by J.P. Morgan and Starwood Capital, the loan will will help complete the 500-foot-tall structure, which is currently in the excavation phase.
Early last year, YIMBY brought you a construction update on the nearly complete 50-story hotel and residential tower at 20 West 53rd Street, in Midtown. Since then, the 59-unit and 114-key Baccarat Hotel & Residences wrapped up construction, and now 80% of the condominiums have sold, with sales topping $300 million. Condo layouts range from 1,167 square feet up to the 7,381 square-foot penthouse. Starwood Capital and Tribeca Associates are the developers, and Skidmore, Owings & Merrill is the architect.
A Brooklyn judge ruled Friday that the developers of Pierhouse, the condo-hotel project at Pier 1 in Brooklyn Bridge Park, didn’t violate height restrictions created to protect the view of the eponymous bridge.
Amid a controversy over height, the mixed-use development Pierhouse at Brooklyn Bridge Park, spanning Furman Street in northern Brooklyn Heights, is making slow progress. 1 Hotel, the 10-story, 200-unit hotel at 60 Furman Street, is nearly completely clad with glass. The 10-story condominium building at 90 Furman Street has topped out and is preparing for its façade installation, according to Brownstoner. At 130 Furman Street, concrete is up to the fourth and final occupied floor. The development will have 108 condo units between the two residential buildings, and completion is expected by 2016.
Late last month, we reported that work was halted at the southern building at the Pier 1 site at Brooklyn Bridge Park, over concerns that the project’s 55-foot height infringed on the Brooklyn Heights Scenic…