When YIMBY last reported on the 23-story, 120-unit mixed-use rental project at 56 Fulton Street, between Cliff and Gold streets in the Financial District, $61.75 million in financing had just been landed. That was back in December of 2014. Today, we can report actual construction progress. A photo sent to us by a reader shows the work being done, and that work has reached the second floor.
New building applications were filed yesterday for a seven-story apartment building with ground floor retail at 701 Washington Avenue, on the eastern, Crown Heights side of the commercial thoroughfare.
Uncertainty over the future of the 421-a tax abatement is driving developers to focus on condos and commercial projects, because rentals are hard to finance without the tax break. Yesterday’s crop of filings brought yet another application for a small commercial building in Lower Manhattan. Milwaukee restaurateur and former Soho bar owner Karl Kopp filed plans for a seven-story retail project at 277 Mott Street, between Houston and Prince Streets in Nolita.
YIMBY last checked in on the 65-story, 268-unit residential tower being built at 252 East 57th Street, in Midtown East, back in October of 2015, when the structure topped out at 715 feet above street level. Since then, glass installation has been rapidly underway to encapsulate the residential interiors, which will eventually contain a total of 93 condominiums and 175 rental apartments. YIMBY now has close-up renderings of the 632,828-square-foot tower.
In the summer of 2015, plans to build a new LaGuardia Airport were revealed along with other transportation infrastructure, including a 24-hour ferry service and an AirTrain, that would serve to link the East Elmhurst airport to the rest of the city. The Port Authority of New York & New Jersey (PANYNJ) has officially approved the project, which was recently estimated to cost upwards of $5.3 billion, Crain’s reported. As part of the deal to approve the project, the Port Authority agreed that it redevelop the Port Authority Bus Terminal in Manhattan, shooting down any chance that it would be rebuilt for much cheaper in New Jersey. As for the airport, the Central Terminal Building is phase one of the greater redevelopment and is expected to be finished by 2021. Terminals C and D will be built after that.