Preliminary renderings posted at a construction site in Prospect Lefferts Gardens, Brooklyn are the first to reveal a new, two-building multifamily development. The project is being developed by CroxDale Real Estate and will comprise two adjacent structures at 625 and 633 New York Avenue.
The affordable housing lottery has launched for 505 State Street, a 44-story mixed-use building at 100 Flatbush Avenue in Downtown Brooklyn. Designed and developed by Alloy Development, the structure yields 440 residences. Available on NYC Housing Connect are 45 units for residents at 40 to 100 percent of the area median income (AMI), ranging in eligible income from $29,109 to $127,100.
Permits have been filed for a 14-story mixed-use building at 521 East Tremont Avenue in Crotona, The Bronx. Located at the intersection of 3rd Avenue and East Tremont Avenue, the corner lot is near the Tremont station, serviced by the MetroNorth train on the Harlem line. Emanuel Kokinakis of MEGA Development under the 521 Tremont Owner LLC is listed as the owner behind the applications.
Crews have built up the first level of the reinforced concrete superstructure of 25-01 Queens Plaza North, the site of a 26-story residential building in Long Island City, Queens. Designed by Handel Architects and developed by Grubb Properties, which purchased the property for $63 million in 2021, the 311-foot-tall mixed-use project will yield 417 rental units with 124 reserved for affordable housing, as well as 7,600 square feet of ground-floor retail space. 25-01 QPN Consigli Construction is the general contractor and King Contracting Group is responsible for brick and CMU installation at the project, which is located between Crescent and 27th Streets, directly adjacent to the elevated Queensboro Plaza station servicing the 7, N, and W trains.
Avery Hall has closed on a $72.5 million construction loan to complete a new 17-story rental property at 544 Carroll Street in Gowanus, Brooklyn. The loan, provided by TD Bank, was arranged by JLL Capital Markets on behalf of Avery Hall and co-developers Declaration Partners and Bridge Investment Group.
