Rendering of 959 Sterling Place. Designed by Morris Adjmi Architects

Developers Secure $69 Million Bridge Loan for Mason Gray At 959 Sterling Place In Crown Heights, Brooklyn

7:30 am on July 20, 2024 By Max Gillespie

Invictus Real Estate Partners, a New York-based vertically integrated real estate private equity company, has announced the closing of a $69 million pre-TCO bridge loan for the Mason Gray, a residential property at 959 Sterling Place in Crown Heights, Brooklyn. The loan will support the completion of minor construction work on the seven-story building, allowing leasing to begin. Walker & Dunlop’s Mike Diaz and Aaron Appel arranged the financing for the project, which was developed by Hope Street Capital.

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Affordable Housing Lottery Launches for 16 Dupont Street in Greenpoint, Brooklyn

7:00 am on July 20, 2024 By Vanessa Londono

The affordable housing lottery has launched for The Dupont, a 41-story residential building at 16 Dupont Street in Greenpoint, Brooklyn. Designed by GKV Architects and developed by Rockefeller Group and Park Tower Group, the structure yields 381 residences. Available on NYC Housing Connect are 109 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $64,012 to $218,010.

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262 Fifth Avenue’s Façade Continues to Ascend in NoMad, Manhattan

8:00 am on July 19, 2024 By Michael Young and Matt Pruznick

Façade installation by PG New York incorporating windows, aluminum panels, and solar photovoltaic panels, is picking up on 262 Fifth Avenue, a 56-story residential skyscraper in the heart of NoMad, Manhattan. Designed by Meganom with SLCE Architects as the executive architect and developed by Boris Kuzinez of Five Points Development under the Five Points 262 Project LLC, the 860-foot-tall structure will yield 26 condominium units with an average scope of 3,200 square feet, including at least one quadruplex unit. The project stands on a 5,000-square-foot plot at the southwest corner of Fifth Avenue and West 29th Street.

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Rendering of The Lirio. Designed by CetraRuddy

The Lirio Breaks Ground At 364 West 54th Street In Hell’s Kitchen, Manhattan

7:30 am on July 19, 2024 By Max Gillespie

The Hudson Companies and Housing Works recently celebrated groundbreaking for The Lirio, a mixed-use development located at 364 West 54th Street in Hell’s Kitchen, Manhattan. The project will transform a vacant parking lot into 112 permanently affordable homes, office space for the MTA, and neighborhood retail space. It was designed by CetraRuddy and is being built in partnership with the New York City Department of Housing Preservation & Development, the Metropolitan Transportation Authority, and other partners.The Lirio will provide 67 units of supportive housing for formerly homeless individuals, including 59 units targeted for long-term survivors of HIV/AIDS, 44 affordable homes for families earning between 30 and 120 percent of area median income, and one superintendent unit. Beyond that, the property will be home to approximately 30,000 square feet of office space for the MTA and retail space along Ninth Avenue.

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