L+M Development Partners, Bluestone Organization and Triangle Equities have closed on $30.3 million in financing to complete the first phase of Arverne East, a forthcoming master-planned community in the Rockaways.
The Bluestone Group
New permits have been filed for a four-story residential building at 239 Marcus Garvey Boulevard in Bedford-Stuyvesant, Brooklyn. While it is near a few bus lines, the site is fourteen blocks away from the nearest subway station, Myrtle Avenue, serviced by the J, M, and Z trains. C trains are a sixteen-block commute. UK-based Bluestone Group is listed as responsible for the development.
Bluestone Group, Altmark Capital, and Princeton Holdings have acquired, for $14.1 million, the six-story, 84,650-square-foot industrial building at 780 East 135th Street, in Port Morris, located five blocks from the Cypress Avenue stop on the 6 train. The previous owner was using the building as a storage facility, although the property is being delivered vacant. The new owners are considering converting it into creative office space or artists’ lofts, according to Commercial Observer. The exact plans for the structure have not yet been finalized or official disclosed.
The City’s Human Resources Administration is pushing to make six long-vacant, two-story buildings on Hollis Avenue – between 202nd and 204th Streets, in Hollis Queens – into permanent affordable housing for homeless veterans. The roughly 120-unit complex is in the midst of gut renovations, according to DNAinfo. The Bluestone Group is currently leasing the properties, which span 202-04 to 203-24 Hollis Avenue, from Rita Stark. The buildings are now being furnished, although there’s no word yet on when move-ins can be expected.