Construction is nearing completion on 66 Clinton Street, a seven-story residential building on Manhattan’s Lower East Side. Designed by C3d Architecture and developed by Vault Development Partners and TLM Equities, which closed on a $20.1 million construction loan to finish the project, the 23,000-square-foot structure will yield 12 condominium units designed by TalliTien with sales and marketing led by Douglas Elliman Development Marketing. Borough Construction Group is the general contractor for the property, which is located between Stanton and Rivington Streets.
Gilbane Development Company, Hudson Companies, and MHANY Management have secured $297 million to complete phase two of The Peninsula, a mixed-use, 100-percent affordable housing complex in Hunts Point, The Bronx. The five-building master plan is being designed by WXY Architecture + Urban Design and Body Lawson Associates, Architects & Planners and will be delivered in three phases.
The affordable housing lottery has launched for 584 4th Avenue, a nine-story mixed-use building in Gowanus, Brooklyn. Designed by ND Architecture & Design and developed by Yoel Werzberger under the Watermark Capital LLC, the structure yields 48 residences. Available on NYC Housing Connect are 14 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $94,286 to $198,250.
Construction is wrapping up on 150 West 48th Street, a 38-story triple-brand Hilton hotel tower in Times Square. Designed by Gene Kaufman Architect and developed by Sam Chang of McSam Hotel Group, the 418-foot-tall, 320,000-square-foot structure will yield 1,046 hotel rooms across the Hampton Inn, Home 2 Suites, and Motto Hotel, Hilton’s newest brand of micro-hotels. McSam Hotel Group purchased the Midtown site for $140 million from Rockefeller Group in early 2019 and received a $250 million loan before construction broke ground the following year. Omnibuild was the general contractor for the project, which is located by the corner of West 48th Street and Seventh Avenue.
Excavation is underway at 4279 Third Avenue, the site of a nine-story Holiday Inn Express by InterContinental Hotels in the Belmont section of The Bronx. Designed by Michael Kang Architect and developed by Neelam Chadha, the 172-foot-tall structure will span 43,789 square feet and yield 86 guest rooms. Supreme Builders Corp. is the general contractor and 2918 Arnow Real Estate Group is the owner of the 6,229-square-foot property, which is bound by Third Avenue to the east, Park Avenue to the west, and East 188th Street to the south.