YIMBY last covered 417 Park Avenue back in July 2020, when demolition permits for the 14-story, 29-unit residential co-op building were fully filed. GDS Development (GDSNY) is the owner of the building that stands on an 8,725-square-foot site and was originally built in 1916 with two cellar levels and a penthouse atop the 143-foot-tall edifice. The Midtown East property is located at the corner of Park Avenue and East 55th Street and is directly south of Foster + Partner‘s topped-out and nearly complete 425 Park Avenue. GDSNY and Klövern AB previously paid $184 million to purchase all the units, and the demolition of the current structure will make way for an office tower with a floor area ratio of 25, or nearly 220,000 square feet under Midtown East Rezoning regulations.
Renderings from C3D Architecture reveal a forthcoming residential building at 31-48 Crescent Street in Astoria, Queens. The building will eventually top out at seven stories and comprise 39,613 square feet.
There are still units available in the affordable housing lottery for 1609 Voorhies Avenue, a six-story mixed-use building in Sheepshead Bay, Brooklyn. Designed by Bricolage Designs, the new structure yields 10 residences and ground-floor commercial space. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $72,000 to $167,570.
As New York City and the United States remembers and commemorates the 20th anniversary of 9/11, YIMBY once again takes a look at the sacred 16-acre World Trade Center site, which holds the two square footprints of the former Twin Towers that are part of the 9/11 Memorial and Museum. We focus on the active and ongoing construction of the Ronald O. Perelman Performing Arts Center, St. Nicholas Greek Orthodox Church, and the current state of Two and Five World Trade Center. All of which are, or are around, the former trapezoidal superblock that held six of the original World Trade Center buildings bound by West, Vesey, Church, and Liberty Streets.
Rose Associates recently closed on $182 million in construction financing to redevelop an existing 13-story office property for residential and retail use. The property is located at 440 Hamilton Avenue in White Plains, New York and will eventually comprise 255 apartments and 3,400 square feet of ground-floor retail.