21-21 44th Drive

Two-Story Medical Facility Now Planned for 21-21 44th Drive, Long Island City

In March, YIMBY revealed plans for an 88-unit condominium development at 21-21 44th Drive, in Long Island City, but Crain’s Business is reporting a change of plans. Norvin Healthcare Properties recently acquired the development site for $66 million, and now a two-story, 45,000 square-foot ambulatory care facility is in the works. NYU Langone Medical Center has agreed on a 31-year lease with Norvin, and an existing two-story building must first be demolished.

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525 West 52nd Street

Developer Lands Construction Loans for 24-Story Project At 525 West 52nd Street, Hell’s Kitchen

The Real Deal reports Taconic Investment Partners has landed $200 million in construction loans for their 24-story, 392-unit mixed-use project at 525 West 52nd Street, in Hell’s Kitchen. YIMBY brought you news of the project almost exactly a year ago, and Handel is designing. Seventy-nine residential units are expected to be set aside as affordable, and the site’s former five-story structure was demolished in 2014.

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