Construction has begun on Charlie, a 27-story residential building within Hoboken Connect at NJ Transit’s Hoboken Terminal in Hoboken, New Jersey. Designed by Salas O’Brien and Allied and developed by LCOR, the 365,000-square-foot structure will yield 386 units, with 20 percent designated as affordable housing, as well as ground-floor retail space.
Permits have been filed to expand a two-story structure into a four-story residential building at 1180 Park Place in Crown Heights, Brooklyn. Located between Troy Avenue and Albany Avenue, the lot is near the Crown Heights-Utica Avenue subway station, serviced by the 4 train. Reuven Kaminetzky is listed as the owner behind the applications.
Developer The Domain Companies announced today the closing of $218.6 million in financing for Estela, a two-building development in Mott Haven, The Bronx. The 11-story buildings at 414 and 445 Gerard Avenue yield 544 market-rate and affordable housing units and 10,000 square feet of ground-floor retail space. Freddie Mac’s Forward Commitment program provided long-term permanent financing through JLL Real Estate Capital. The Urban Investment Group at Goldman Sachs Alternatives led the Opportunity Zone equity financing for the mixed-income, mixed-use project.
Construction is wrapping up on Union Channel, a nine-story residential building at 240 Third Avenue in Gowanus, Brooklyn. Designed by Fogarty Finger and developed by Tavros Capital and Charney Companies, the 95-foot-tall structure will span 210,000 square feet and yield 224 rental units in studio to three-bedroom layouts, along with 8,900 square feet of ground-floor commercial space. Twenty-five percent of the apartments will be designated for affordable housing. The property is alternately addressed as 585 Union Street and bound by Sackett Street to the north, Union Street to the south, and 3rd Avenue to the east.
A $79 million construction loan was recently issued for 250 West 49th Street, a 28-story residential building currently under construction in Midtown, Manhattan. Designed by C3D Architecture and developed by Chess Builders, the tower will yield 138 units and 2,500 square feet of ground-floor retail space. The loan was facilitated by S3 Capital.
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