JLL Capital Markets has arranged a $142 million construction loan to finance the completion of Majestic, a 12-story mixed-use building at 540 DeGraw Street in Gowanus, Brooklyn. Designed by Handel Architects and developed by Domain Companies, the Urban Investment Group within Goldman Sachs Asset Management, Vorea Group and Mega Development, the building will yield 18,000 square feet of commercial space and 255 rental units. A total 25 percent of the units will be designated for affordable housing. Future Green Studio is the landscape designer for the property, which is located between Nevins Street and 3rd Avenue.
Permits have been filed for a five-story mixed-use building at 434 Blake Avenue in Brownsville, Brooklyn. Located between Powell Street and Junius Street, the lot is near the Sutter Avenue subway station, serviced by the L train. Monsur Rahman of Win USA Properties LLC is listed as the owner behind the applications.
Construction is about to go vertical on 270 West 96th Street, a 23-story residential building on Manhattan’s Upper West Side. Designed by SLCE Architects and developed by Fetner Properties, the 235-foot-tall structure will yield 171 rental units with 68 dedicated to affordable housing, and 8,961 square feet of community facility space. Urban Atelier Group is the general contractor for the property, which is located between West End Avenue and Broadway, and King Contracting Group will be in charge of placing the CMU, bricks, EIF’s cast stone and roofing.
Construction is progressing on 44-54 Ninth Avenue, an eight-story commercial expansion project above a row of landmarked townhomes on the border of Chelsea, the Meatpacking District, and the West Village. Designed by BKSK Architects and developed by Tavros Capital, the new structure will stand 102 feet tall and yield offices and ground-floor retail space. Mepa Realty is the owner and Broadway Construction is the general contractor for the property, which is alternatively addressed as 351-355 West 14th Street and is located at the corner of Ninth Avenue and West 14th Street.
Hilton will debut its first-ever Tempo-branded hotel at the new TSX Broadway at 1568 Broadway in Times Square, Manhattan. L&L Holding Company and Fortress Investment Group, the owners and developers of the TSX Broadway building, also led development of the new hotel.