The affordable housing lottery has launched for 325 East 25th Street, a nine-story residential building in Kips Bay, Manhattan. Designed by SLCE Architects, the structure yields 56 residences. Available on NYC Housing Connect are 55 units for residents at 80 to 165 percent of the area median income (AMI), ranging in eligible income from $48,755 to $177,210.
Exterior work is nearing completion on The West, a 12-story mixed-use building at 547 West 47th Street in Hell’s Kitchen. Designed by Concrete and developed by CB Developers, SK Development, and Ironstate Development, the 201,000-square-foot development will yield 219 residential units above a 40,000-square-foot ground-floor car dealership. The Marketing Directors is exclusively handling sales and marketing for the units, which range from studios to three-bedroom layouts, and CM & Associates Construction Management LLC is the general contractor for the project. The property is bound by Eleventh Avenue to the west, West 47th Street to the south, and West 48th Street to the north.
Construction is coming to a close on 102 Charlton Street, a 21-story residential building in Hudson Square. Designed by Ismael Leyva Architects and developed by Lalezarian Properties, the 210-foot-tall structure yields 59,323 square feet and 61 units. The property is located on the south side of the block between Greenwich and Hudson Streets.
The affordable housing lottery has launched for 7 Dey Street, a 34-story mixed-use building designed by FXCollaborative in the Financial District of Manhattan. The lottery is run in cooperation with SL Green, NYC Department of Housing Preservation and Development, and non-profit Settlement Housing Fund. Available on NYC Housing Connect are 63 units for residents at 70 to 130 percent of the area median income (AMI), ranging in eligible income from $45,566 to $167,570.
Rabsky Group recently closed on $450 million in construction financing to complete 625 Fulton Street, a mixed-use high rise building in Downtown Brooklyn. Financing is provided by Madison Realty Capital and was negotiated by Galaxy Capital.