Exterior work is wrapping up on 537 Summit Avenue, a 754-foot-tall residential skyscraper in Jersey City‘s Journal Squared development and number 18 on our annual end-of-year construction countdown. Designed by HWKN/Hollwich Kushner and Handel Architects and developed by Kushner Real Estate Group, the building is the tallest in the three-tower complex.
Construction is continuing on the Korean Cultural Center of NYC, a highly distinctive 120-foot-tall building at 122-126 East 32nd Street in Murray Hill. Designed by SAMOO Architecture PC for Level Group, the Consulate General of the Republic of Korea, NY, purchased the property for $15.8 million in March 2008, including the use of nearly 4,500 square feet of air rights. The project, which broke ground in June 2018, is planned to yield 36,500 square feet.
Tiffany Court Plaza, a mixed-use building with permanent affordable and supportive housing, recently topped out in Foxhurst, The Bronx. Located at 980 Westchester Avenue, the seven-story, 155,798-square-foot structure is designed by GF55 Partners and developed by The Doe Fund and Bolivar Development.
Despite the anticipated slowdown of commercial real estate, Brooklyn Navy Yard Development Corporation, or BDNYC, is reporting more than 160,000 square feet of new commercial leases within the former industrial complex. This figure does not include an additional 81,000 square feet of lease renewals and an unspecified inventory in their 2021 pipeline.
Work is nearing completion on Brooklyn Point, the borough’s tallest skyscraper at 720 feet and number 19 on our countdown of the tallest construction projects underway in the city. Developed by Extell and designed by Kohn Pedersen Fox with SLCE Architects as the architect of record, the 68-story residential tower is part of the City Point complex in Downtown Brooklyn and is formally addressed as 1 City Point and 138 Willoughby Street. The property will contain 458 units in studio to three-bedroom layouts, with interior design by Katherine Newman. Ryan Serhant and his newly established brokerage, SERHANT, will handle sales for the homes, which will range from $850,000 to nearly $4 million.