Greystar Real Estate Partners has broken ground on a new high-rise rental property a 25 North Lex in White Plains, New York. Located in the city’s downtown area, the development will contain 500 rental apartments, 60,000 square feet of amenities, and 19,000 square feet of ground-floor retail space.
Permits have been filed for an 11-story residential building with affordable housing for seniors at 57 Marcus Garvey Boulevard in Bedford-Stuyvesant, Brooklyn. Located between Park and Myrtle Avenues, the lot is two blocks from the Myrtle Avenue subway station, serviced by the J, M, and Z trains. NYC Housing Authority and NYC Health + Hospitals is listed as the owner behind the applications.
Permits have been filed for a six-story residential building at 3103 Sedgwick Avenue in Kingsbridge Heights, The Bronx. Located between Perot Street and Fort Independence Street, the lot is in walking distance of the 231st Street subway station, serviced by the 1 train. Moses Freund of The Vaja Group is listed as the owner behind the applications.
Work continues to wrap up on 425 Park Avenue, a 47-story commercial skyscraper in Midtown East. Designed by Norman Foster of Foster + Partners for L&L Holding Company, Tokyu Land Corporation, and co-managing partner BentallGreenOak, the 897-foot-tall structure will yield 667,000 square feet of office space and a ground-floor restaurant run by world-renowned Chef Daniel Humm, proprietor of the three Michelin-starred Eleven Madison Park.
L+M Development Partners, Type A Projects, and MSquared recently closed on $42 million in construction financing to complete a 78-unit affordable housing project in Newark, New Jersey. The property will occupy a portion of an existing residential complex at 250 Georgia King Village in the city’s Fairmount neighborhood.