Housing Lottery Launches for Bridge Rockaway Apartments in Brownsville, Brooklyn

7:00 am on July 26, 2024 By Vanessa Londono

The affordable housing lottery has launched for Bridge Rockaway Apartments, a pair of six- and seven-story mixed-use towers at 203 Newport Street in Brownsville, Brooklyn. Designed by Think! Architecture and Design and developed by Mega Development, nonprofit industrial developer Greenpoint Manufacturing and Design Center, and The Bridge, the structure yields 174 residences. Available on NYC Housing Connect are 86 units for residents at 30 to 70 percent of the area median income (AMI), ranging in eligible income from $24,480 to $134,820.

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Below-Grade Work Continues for RAMSA’s 255 East 77th Street on Manhattan’s Upper East Side

8:00 am on July 25, 2024 By Michael Young and Matt Pruznick

Below-grade work is continuing at 255 East 77th Street, the site of a 36-story residential skyscraper in the Lenox Hill section of Manhattan’s Upper East Side. Designed by Robert A. M. Stern Architects with Hill West Architects as the architect of record and developed by Naftali Group, the 500-foot-tall structure will span 170,481 square feet and yield 62 condominium units, as well as 3,861 square feet of retail space, two cellar levels, and 33 enclosed parking spaces. The property is alternately addressed as 1481 Second Avenue and located at the corner of Second Avenue and East 77th Street.

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Photo by Michael Young

$18 Million Mezzanine Loan Provided For 24-01 Queens Plaza North In Long Island City, Queens

7:30 am on July 25, 2024 By Max Gillespie

Naftali Credit Partners, a subsidiary of Naftali Group, has closed on an $18 million mezzanine loan for 24-01 Queens Plaza North, a new residential project in Long Island City, Queens. The loan is one of two recent mezzanine loans issued by Naftali Credit Partners, totaling $31.4 million combined, and was issued to the project’s developer, New Empire.
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Leasing Launches for 420 Carroll Street in Gowanus, Brooklyn

7:00 am on July 25, 2024 By Vanessa Londono

Leasing launched this week for 420 Carroll Street in Gowanus, Brooklyn. the first building developed through the 2021 Gowanus Neighborhood Rezoning. The waterfront development includes a 21-story tower and an adjacent 16-story tower connected via a subterranean tunnel, as well as 360 mixed-income apartments in a mix of studio to three-bedroom layouts, 27,000 square feet of commercial and retail space, and a 470-foot-long public promenade along the canal. 420 Carroll Street is developed by The Domain Companies and VOREA Group and designed by FXCollaborative with interiors by Alan Mainer Studios. Domain Companies’ affiliate Good Company will oversee residential leasing from an on-site office.

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