A new loan totaling $4 million has been brokered by HKS Real Estate Advisors for the retail component of One Vandam, a 14-story residential building at 180 Sixth Avenue in Soho, Manhattan. Designed by BKSK Architects, the property completed construction in 2014. The loan was issued by Emerald Creek Capital and sponsor is CRE8 Equities.
Permits have been filed to expand a single-story structure into a six-story mixed-use building at 545 Metropolitan Avenue in Williamsburg, Brooklyn. Located between Lorimer Street and Union Avenue, the lot is near the Metropolitan Avenue/Lorimer Street subway station, served by the G and L trains. Thomas Finnican of Patoma Inc. is listed as the owner behind the applications.
Construction is complete on The Northern, a two-building development at 38-27 32nd Street and 38-38 32nd Street in Long Island City, Queens. Designed by NY Building Associates and developed by Yitzchok Katz of Developing NY State under the 39th Ave Equity LLC, the structures yield a combined 116 rental units and were built in tandem on two parcels at the intersection of 39th Avenue and 32nd Street.
Demolition preparations are underway at 156-166 Bowery, the site of a forthcoming seven-story commercial building in Nolita, Manhattan. Designed by Perkins + Will Architects and developed by Kinsman Property Group, a joint venture between Madison Group and State Building Group, the 85-foot-tall structure will yield 72,441 square feet of office space. The 15,000-square-foot property is currently occupied by seven vacant low-rise buildings by the corner of Bowery and Kenmare Street.
Construction has begun on La Olazul, a 13-story affordable and supportive housing development at 1940 Jerome Avenue in Mount Hope, The Bronx. Developed by Vaya Development and Westhab, the $81 million development will yield 115 units, including 69 supportive apartments, along with approximately 8,500 square feet of ground-floor commercial space.
