East Williamsburg

Financing Closes For $26 Million Rehabilitation Of 44 Affordable Homes In East Williamsburg And Bushwick, Brooklyn

St. Nicks Alliance has closed on financing for the redevelopment of three Brooklyn properties yielding 44 affordable homes in East Williamsburg and Bushwick. The $26 million project encompasses two adjoining 16-unit buildings at 984-988 Greene Avenue and six-unit properties at 315 Harman Street and 19 Kingsland Avenue. The development is backed by a $2.26 million construction and permanent loan from LISC NY, which will cover hard costs associated with the redevelopment, along with soft costs and financing costs.

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89 Maspeth Avenue. Rendering courtesy of Architecture Outfit.

89 Maspeth Avenue Progresses In East Williamsburg, Brooklyn

Construction progresses on 89 Maspeth Avenue, an 18-story, 100-percent affordable housing development in East Williamsburg, Brooklyn. Architecture Outfit is the design architect, Magnusson Architecture and Planning, PC is the architect of record, while Hudson Companies and local non-profit St. Nicks Alliance are the developers collaborating with the NYC Department of Housing Preservation & Development. The 457,444-square-foot project stands 135 feet tall and will yield 294,297 square feet of residential space with 311 rental units, 161,440 square feet of community facility space, and 1,707 square feet of ground-floor commercial space. Additional elements include a cellar level and a 43-foot-long side yard.

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Renderings Revealed For 85 Varet Street In East Williamsburg, Brooklyn

Permits have been approved for 85 Varet Street, a five-story residential building in East Williamsburg, Brooklyn. Designed by Manuel Zarate of MZ Architecture and developed by T85 Trading LLC, the 57-foot-tall structure will span 17,184 square feet and yield 27 condominium units with an average scope of 636 square feet. A portion of the residential inventory will be reserved for affordable housing, with the project utilizing Universal Affordability Preference floor area incentives coordinated with the Department of Housing Preservation and Development. The property is located between Humboldt Street and Avenue of Puerto Rico.

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