Rendering of The Torch at 740 Eighth Avenue by ODA and SLCE Architects. Photo by Michael Young

Work Stalls on The Torch at 740 Eighth Avenue in Midtown, Manhattan

8:00 am on November 24, 2024 By Michael Young and Matt Pruznick

Kicking off our annual Turkey Week rundown of stalled projects in New York City is The Torch, a 1,067-foot mixed-use supertall skyscraper at 740 Eighth Avenue in Midtown, Manhattan. Designed by ODA with SLCE Architects as the architect of record and developed by Extell, the 52-story structure is planned to span 875,372 square feet and yield an 825-room hotel topped by a public outdoor observation deck with a drop ride attraction in the signature stemlike column. The property would also feature lower-level retail space, a restaurant on two of the upper floors, a VIP lounge, and a pool deck for hotel guests. The property is located along Eighth Avenue between West 45th and 46th Streets on the border of Times Square and Hell’s Kitchen.

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1695 Second Avenue’s Foundations Near Completion on Manhattan’s Upper East Side

7:30 am on November 24, 2024 By Michael Young and Matt Pruznick

Below-grade work is progressing at 1695 Second Avenue, the site of a 23-story residential building on Manhattan’s Upper East Side. Designed by Hill West Architects and developed by Alchemy-ABR with co-developer Azur, the 270-foot-tall structure will span 96,543 square feet and yield 51 rental units with an average scope of 1,842 square feet, as well as 2,507 square feet of ground-floor commercial space and a cellar level. The property is located at the corner of Second Avenue and East 88th Street.

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Rendering of Forty-Six Fifty. Designed by Handel Architects

Forty-Six Fifty Completes Construction at 4650 Broadway In Inwood, Manhattan

7:00 am on November 24, 2024 By Max Gillespie

Construction is complete on Forty-Six Fifty, a 22-story mixed-use building at 4650 Broadway in Inwood, Manhattan. Designed by Handel Architects and developed by Arden Group, the 260-foot-tall structure spans 351,000 square feet and yields 222 rental residences in studio to two-bedroom layouts, as well as 80,000 square feet for the School on the Square charter school and an 38,000-square-foot supermarket. The property is located at the intersection of Broadway and Sherman Avenue, directly east of Fort Tryon Park.

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Housing Lottery Launches for 72-01 Queens Boulevard in Woodside, Queens

6:30 am on November 24, 2024 By Vanessa Londono

The affordable housing lottery has launched for 72-01 Queens Boulevard, a 12-story mixed-use building in Woodside, Queens. Designed by Aufgang Architects and developed by Eight West, the structure yields 364 residences. Available on NYC Housing Connect are 110 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $57,189 to $250,380.

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Landmark ‘City of Yes’ Housing Creation Plan Approved with $5 Billion Push

8:00 am on November 23, 2024 By Matt Pruznick

A City Council subcommittee on Thursday approved Mayor Eric Adams’ plan to build 80,000 new homes over the next 15 years, lowering the cost of rent for New Yorkers amid one of the worst housing crises in city history. Dubbed “City of Yes for Housing Opportunity,” the rezoning proposal aims to spur the creation of affordable housing in all five boroughs, along with upgrades to critical infrastructure. The approval by the City Council Subcommittee on Zoning and Franchises and Committee on Land Use was secured following a $5 billion pledge from the city and state.

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