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Rendering of Pelham House, by Marvel

Developers Close on Financing for Pelham House At 217 Fifth Avenue In Pelham, New York

7:30 am on January 3, 2025 By Max Gillespie and Matt Pruznick

The Hudson Companies has closed on $73 million in financing for Pelham House, a five-story residential development at 217 Fifth Avenue in Pelham, Westchester County. Designed by United Design Works and developed in partnership with Excelsior Housing Group and Sisca Northeast, the structure is planned to yield 127 units, including six designated for affordable housing, as well as 5,300 square feet of ground-floor retail space. The affordable apartments will be reserved for households earning 80 percent of area median income. Financing was provided by Santander, Related Debt Fund, and equity through Hudson’s joint venture Green Fund with the New York City Employees’ Retirement System and the Teachers’ Retirement System of the City of New York.

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Riseboro Closes on $412.4 Million Financing for Alafia Phase II in East New York, Brooklyn

7:00 am on January 3, 2025 By Vanessa Londono

RiseBoro Community Partnership recently secured $412.4 million in financing for the second phase of Alafia, a mixed-use development with a focus on wellness services in East New York, Brooklyn. To be built in collaboration with L+M Development Partners LLC and Apex Building Group as co-developers, the second phase will bring 634 affordable and supportive units within two 14-story buildings as well as infrastructure improvements, parking, and 22,000 square feet of retail and community facilities.

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Redeemer East Side Wraps Up Construction at 150 Eat 91st Street on Manhattan’s Upper East Side

8:00 am on January 2, 2025 By Michael Young and Matt Pruznick

Construction is finishing up on Redeemer East Side, a 12-story mixed-use facility for the Redeemer Presbyterian Church at 150 East 91st Street in the Carnegie Hill section of Manhattan’s Upper East Side. Designed by STUDIOS Architecture, the 170-foot-tall structure features a fellowship hall with a capacity of 300, a 600-seat auditorium for worship and gatherings, 17 classrooms, and a catering kitchen. The Presbyterian organization acquired the property for $29.5 million in 2020 and will relocate to the new facility from its current address at 112 East 75th Street. The development is situated on a 50-foot-wide interior lot between Lexington and Third Avenues.

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LPC To Review Proposal For Changes To Residential Building At 39-45 48th Street In Sunnyside, Queens

7:30 am on January 2, 2025 By Max Gillespie

A proposal has been submitted to the Landmarks Preservation Commission for a property located at 39-45 48th Street in the Sunnyside Gardens Historic District of Sunnyside, Queens. The three-story, two-unit property is a brick row house designed in the Colonial Revival style by Clarence Stein, Henry Wright, and Frederick Ackerman and constructed in 1927.

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