The affordable housing lottery is open for 508 West 134th Street, a five-story residential development in West Harlem, Manhattan. The 15-unit building will yield 13,765 square feet. Available on NYC Housing Connect are four units for sale for residents at 110 percent of the area median income, ranging in eligible income from $61,000 to $155,100.
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.
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.
DXA Studio will again appear before the Landmarks Preservation Commission (LPC) with updated plans to renovate and expand a landmarked warehouse building near Union Square. The property is located at 827-831 Broadway and was formerly the home of artists Willem and Elaine de Kooning.
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.
