Jonathan Rose Companies, L+M Development Partners, and Acacia Network recently closed on a $223 million financing package to complete the second and final phase of Sendero Verde. The complex is located on Madison Avenue between East 111th and East 112th Streets in East Harlem and spans a full city block.
The affordable housing lottery has launched for The Gilroy, a 40-story tower at 232 East 54th Street in Midtown East, Manhattan. Designed by Ismael Leyva, the Art Deco-inspired high-rise yields 130 units. Available on NYC Housing Connect are 40 units for residents at 70 to 130 percent of the area median income (AMI), ranging in eligible income from $45,566 to $167,570.
Exterior work is nearing completion on Plank Road, a 27-story residential building at 662 Pacific Street in Prospect Heights, Brooklyn. Formerly addressed as 37 Sixth Avenue, 495 Dean Street, and 664 Pacific Street, the 209,451-square-foot structure is designed by Marvel Architects and developed by The Brodsky Organization and will bring 312 rental units to the Pacific Park complex. The rectangular parcel is located between Dean and Pacific Streets.
Exterior work is complete on Eleven Hancock, a 12-story condominium building at 11 Hancock Place in South Harlem, Manhattan. Designed by Issac & Stern Architects for Norto Development, the property yields 71 units ranging from studio to four-bedroom layouts, as well as three floors of retail space on the lower levels.
The Borough of Englewood Cliffs in New Jersey is moving one step closer to obtaining 800 Sylvan Avenue through eminent domain. Developer Senlac Partners has plans to construct a three-building development totaling 365,000 square feet, yielding 450 residences with 90 units of affordable housing. However local government wants to build more affordable housing and public green space on the 28.75-acre site.