The Durst Organization has opened a new 100-percent affordable housing property at 3-24 27th Avenue in Astoria, Queens. Designed by Dattner Architects, the 14-story building is located within the Durst Organization’s Halletts Point mega-development, which will eventually comprise seven buildings, 1,920 market rate apartments, and 480 affordable housing units along the East River waterfront.
This week Gindi Capital and Avery Hall closed on $110 million in construction financing for the development of a 13-story, 193-unit mixed-use, mixed-income building at 204 4th Avenue in Gowanus, Brooklyn. Located at the intersection of the Gowanus and Park Slope neighborhoods on a full city block between Union and Sackett Street, the ground-up construction will also have an expansive amenity package including a rooftop lounge and pool. Affinius Capital LLC provided the construction financing for the project with financing arranged by Christopher Peck and Peter Rotchford of JLL.
The affordable housing lottery has launched for 311 Franklin Avenue, a seven-story mixed-use building in Bedford-Stuyvesant, Brooklyn. Designed by Sion Consulting and developed by Mathew Ahdoot of United Bay Ridge, the structure yields ten residences. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $90,858 to $187,330.
Demolition is underway on the final two buildings at 12 West 57th Street, the site of a 672-foot-tall residential skyscraper in Midtown, Manhattan. Designed by Skidmore, Owings & Merrill and developed by Solow Management Corp., the tower will rise along Billionaires’ Row between Fifth and Sixth Avenues and West 56th and 57th Streets.
Construction is nearing completion on a Cube Smart self storage facility at 41-47 East 21st Street in the Flatiron District. Developed by Mequity Companies, which purchased the property from The Zucker Organization for $32.3 million in March 2019, the project involves the conversion of a four-story, 50,000-square-foot parking garage into a storage facility. Equity E. 21st Owner LLC is the owner and Park East Construction is the general contractor for the property, which is located Fifth Avenue and Park Avenue.
