Heritage Equity Partners recently secured $53 million in construction financing to build a new multifamily rental property in Sunset Park, Brooklyn. The property is located at 875 4th Avenue in an area colloquially referred to as South Slope and will yield 150 units.
The affordable housing lottery is open for 329 Broadway, a 16-story mixed-use development in Williamsburg, Brooklyn. Facade design is by DXA Studio with Syndicate Architecture and interiors by DXA Studio, the 96,425-square-foot building will yield 63 units. Available on NYC Housing Connect are 19 units for residents at 130 percent of the area median income, ranging in eligible income from $76,835 to $183,300.
Permits have been filed for a six-story residential building at 1301 Newkirk Avenue in Flatbush, Brooklyn. Located at the intersection of Newkirk Avenue and Argyle Road, the lot is also addressed as 585 Argyle Road. Two blocks east is the Newkirk Plaza subway station, serviced by the B and Q trains. Mark Beinhorn under the Newkirk Equities LLC is listed as the owner behind the applications.
The Department of Buildings has awarded Norman Foster’s 425 Park Avenue a temporary certificate of occupancy, or TCO, signaling imminent completion of the commercial skyscraper in Midtown East. From developers L&L Holding Company, Tokyu Land Corporation, and co-managing partner BentallGreenOak, the 47-story office tower comprises around 667,000 square feet.
Exterior work is nearing completion on Graydon Chelsea, a 16-story residential building at 128 West 23rd Street in Chelsea. Designed by Kutnicki Bernstein Architects and developed by Valyrian Capital and Pan Brothers, the 40,230-square-foot structure will yield 30 units, averaging 1,200 square feet apiece. The property is located between Sixth and Seventh Avenues.