Rendering of 41-08 Crescent Street. Credit: Dan Ionescu Architects

Construction Loan Issued For 41-08 Crescent Street In Long Island City, Queens

7:30 am on December 12, 2024 By Max Gillespie and Matt Pruznick

A $70 million construction loan was issued for 41-08 Crescent Street, a 26-story residential building under construction in Long Island City, Queens. Designed by Dan Ionescu Architects and developed by Watermark Capital Group, the 192,000-square-foot structure will yield 184 units in studio to three-bedroom layouts, with 70 percent of the inventory designated for affordable housing under the Affordable NY 421a program, as well as 9,000 square feet of ground-floor retail space and a 41-vehicle parking lot. Slate Property Group and White Oak Real Estate Capital provided the loan for the final stages of construction and lease-up of the project, which is bound by Crescent Street, 41st Avenue, and 24th Street.

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Housing Lottery Launches for 827 Sterling Place in Crown Heights, Brooklyn

7:00 am on December 12, 2024 By Vanessa Londono

The affordable housing lottery has launched for 827 Sterling Place, a seven-story residential building in Crown Heights, Brooklyn. Designed by Issac & Stern Architects and developed by Haussmann Development and Kriss Capital, the structure yields 76 residences. Available on NYC Housing Connect are 23 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $108,000 to $218,010.

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Xadia Hotel’s Glass Façade Begins Installation at 58 West 39th Street in Midtown, Manhattan

8:00 am on December 11, 2024 By Michael Young and Matt Pruznick

The 21st-tallest building on YIMBY’s year-end construction countdown is the Xadia Hotel, a 475-foot-tall hotel tower at 58 West 39th Street in Midtown, Manhattan. Designed by Marin Architects and developed by Wei Hong Hu under the H Hotel LLC, the 42-story structure will yield 173 guest rooms and amenities including a restaurant, an arcade, and a rooftop bar. The project is located on a narrow interior plot between Fifth and Sixth Avenues, one block south of Bryant Park.

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New Renderings Revealed For The Met’s $500 Million Expansion on Manhattan’s Upper East Side

7:30 am on December 11, 2024 By Michael Young and Matt Pruznick

The Metropolitan Museum of Art recently released new renderings for the Oscar L. Tang and H.M. Agnes Hsu-Tang Wing, a $500 million expansion of the world-famous institution on Manhattan’s Upper East Side. Designed by Frida Escobedo Studio with Beyer Blinder Belle as the executive architect, the addition will span 126,000 square feet, including 71,000 square feet for The Met’s 20th- and 21st-century art collection, as well as 18,500 square feet of outdoor space. The new structure will rise from within the museum’s existing footprint, replacing the aging 120,000-square-foot wing that currently sits at the southwest corner of the site.

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