The world’s current tallest residential tower, 432 Park Avenue, has broken a record. Total sales of its condominiums have now surpassed $2 billion, and co-developers CIM Group and Macklowe Properties have made the announcement that their Midtown project has now achieved the all-time record for all of New York City. This news leaves the developers just $1.1 billion dollars shy of their expected total $3.1 billion sell-out.
Financing has been secured for a new eleven-story conversion at 25-11 49th Avenue, in Long Island City, Queens. The site was sold to Normandy Real Estate Partners and Keystone Equities in September 2016 for $39.1 million, at over $200 per buildable square foot. The rendering reveals their plan is to refurbish the existing two-story facility, build up eight stories along half the extant area, while using the other half of the roof for green space.
Sales have commenced and listings have launched for 40 Bleecker Street, in NoHo. Simply dubbed ’40 Bleecker’, the new building will bring 61 new residential units to the neighborhood, which rarely sees developments of this scale.
Permits have been filed for an eight-story residential building at 1228 Washington Avenue in Morrisania, The Bronx. The site is thirteen blocks away from the 167th Street Subway Station, serviced by the B and D trains. The Daniel Group will be responsible for the development.
Permits have been filed for a six-story mixed-use building at 321 Franklin Avenue in Bedford-Stuyvesant, Brooklyn. The site is six blocks away from the Bedford-Nostrand Avenue Subway Station, serviced by the G. Citi General Hardware will be responsible for the development.