SCALE Lending recently provided $65.9 million in financing to facilitate the completion of a new 19-story residential building at 26-25 Fourth Street in Astoria, Queens. Designed by J Frankl Associates and developed by Bruman Realty, the 289,000-square-foot structure will stand 204 feet tall and yield 165 rental apartments, 38,000 square feet of retail space, and a 101-vehicle parking garage on a lot between 26th and 27th Avenues.
Sales recently kicked off for Tangram House West as the mixed-use development nears completion in Downtown Flushing, Queens. Developed in a joint partnership between F&T Group and SCG America and designed by Margulies Hoelzli Architecture, Tangram yields 1.2 million square feet with retail, residential, office, and hotel components. Bound by College Point Boulevard, Prince Street, and 37th and 39th Avenues, the 13-story building at 133-27 39th Avenue has 132 residential units. Inventory mix breaks down to 105 studio and one-to-two-bedroom residences, plus 27 penthouses ranging from one- to four-bedrooms layouts.
Permits have been filed for a seven-story mixed-use residential building at 88-06 161st Street in Jamaica, Queens. Located at the intersection of Hillside Avenue and 161st Street, the corner lot is two blocks east of the Parsons Boulevard subway station, serviced by the E and F trains. Joshua Asherian of A&R Properties Group is listed as the owner behind the applications.
Façade work is rapidly progressing on the recently topped-out 150 West 48th Street, a 418-foot-tall, 38-story triple-brand Hilton hotel tower in Times Square. Designed by Gene Kaufman Architect and developed by Sam Chang of McSam Hotel Group, the 320,000-square-foot structure will yield 1,046 hotel rooms with a Hampton Inn, a Home 2 Suites, and a Motto Hotel, Hilton’s newest brand of micro-hotels. McSam Hotel Group purchased the Midtown, Manhattan site from Rockefeller Group in early 2019 for $140 million, and also received a $250 loan before construction broke ground last year. Omnibuild is in charge of erecting the tower, which is located by the corner of West 48th Street and Seventh Avenue.
Permits have been filed for a 71-story mixed-use skyscraper with affordable Housing at 265 South Street in Manhattan’s Lower East Side. Located adjacent to Rutgers Park between Jefferson Street and Frank T. Modica Way, the lot was previously addressed as 260 South Street. Four blocks north of the site is the East Broadway subway station, serviced by the F train. Two Bridges Associates L.P., a partnership between L+M Development Partners and the CIM Group, is listed as the owner behind the applications.