Exterior work is complete on 120 Water Street, a 28-story Hotel Indigo in the Financial District. Designed by Gene Kaufman Architects and developed by Atlas Hospitality, the 299-foot-tall tower will yield 52,000 square feet and 128 rooms managed by Fortuna Realty Group. Raj Guru, principal of Atlas, is the owner of the property, which is located on a narrow plot between Pine and Wall Streets.
The Edgewater Planning Board this week granted approvals for one of the largest mixed-use developments along Jersey City‘s Gold Coast waterfront district. Located at 615 River Road in Edgewater, the 1.2 million-square-foot development includes three 25-story towers, 1,200 apartments, 20,000 square feet of commercial space, and several outdoor green spaces for public use.
The affordable housing lottery has launched for 140 West Fordham Road, a seven-story residential building in University Heights, The Bronx. Designed by Marin Architects and developed by Stagg Group, the structure yields 54 residences. Available on NYC Housing Connect are 18 units for residents at 120 percent of the area median income (AMI), ranging in eligible income from $56,572 to $154,680.
The final touches are underway on 425 Park Avenue, an 897-foot-tall commercial skyscraper in Midtown East and number 14 on our year-end countdown. Designed by Norman Foster of Foster + Partners for L&L Holding Company, Tokyu Land Corporation, and co-managing partner BentallGreenOak, the 47-story building yields around 667,000 square of office space, as well as a ground-floor restaurant run by world-renowned Chef Daniel Humm, proprietor of the Three Michelin-starred Eleven Madison Park. Tishman Construction is the general contractor of the Midtown, Manhattan property, which is bound by Park Avenue to the west, East 55th Street to the south, and East 56th Street to the north. The structure is expected to achieve LEED Gold certification and debut as New York City’s first WELL-certified building.
L+M Development Partners, Bluestone Organization and Triangle Equities have closed on $30.3 million in financing to complete the first phase of Arverne East, a forthcoming master-planned community in the Rockaways.