One Madison Avenue’s Renovation and Expansion Project Ramps Up in the Flatiron District, Manhattan

8:00 am on January 17, 2021 By Michael Young

Construction activity is underway at One Madison Avenue in the Flatiron District, where the 13-story full-block structure is being renovated and expanded with a new 18-story addition. Designed by Kohn Pedersen Fox and developed by SL Green, the project will stand 27 stories and yield 1.4 million square feet of Class A office space. Helping to develop and finance One Madison Avenue’s future are the National Pension Service of Korea and Hines, contributing a grand total of $1.25 billion in construction financing. The property is bound by East 23rd Street to the south, Madison Avenue and Madison Square Park to the west, East 24th Street to the north, and Park Avenue South to the east.

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2551 Broadway Continues Vertical Ascent on Manhattan’s Upper West Side

7:30 am on January 17, 2021 By Michael Young

Construction is rising at 2551-2555 Broadway, a 22-story residential project on Manhattan’s Upper West Side. Located at the corner of Broadway and West 96th Street, the 276,578-square-foot structure is designed by Stephen B. Jacobs Group and is being developed by Extell, which purchased the property for $80 million in a sale facilitated by Eastern Consolidated. The building will yield 215,866 square feet of residential space with 130 units, likely condominiums with an average scope of 1,660 square feet, as well as 9,080 square feet of commercial space.

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Affordable Senior Housing Coming to 31-07 31st Street in Astoria, Queens

6:30 am on January 17, 2021 By Vanessa Londono

A new mixed-use development with 100 percent affordable senior housing will be built at 31-07 31st Street in Astoria, Queens. Development team HANAC and Mega Development were chosen by the city’s Department of Housing Preservation and Development to bring 135 affordable senior homes, a community center, and commercial space to the city-owned site. The proposal is part of HPD’s Seniors First initiative, with a goal to serve 30,000 senior households by 2026.

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Rendering of the new Penn Station - Office of Governor Andrew M Cuomo

Governor Andrew Cuomo Announces 2021 Agenda to Improve New York State Infrastructure

8:00 am on January 16, 2021 By Sebastian Morris

Governor Andrew Cuomo this week unveiled a multi-billion dollar initiative to revitalize and rebuild infrastructure across New York State. Entitled “Reimagine | Rebuild | Renew,” the 2021 agenda is touted as the largest state infrastructure plan in the country and sets in motion the improvement of state roadways, public transportation, airports, and large swaths of Midtown, Manhattan.

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