Plans for a new eight-story apartment building at 885 Grand Street in East Williamsburg are moving ahead after the joint venture of Lemle & Wolff Development Co. and Alphonso Milo secured a $12.85 million construction loan from Sterling National Bank. Today, YIMBY also has the first rendering for the project.
A new mixed-use condominium building is racing toward completion in the East Village of Manhattan. 24 2nd Avenue has topped out at the 10th story, with nearly all window installation now complete. Permits were filed for the structure in mid-2015, replacing East Village’s last gas station. AORE Capital is responsible for the development.
Permits have been filed for an 11-story mixed-use building at 179 4th Avenue, on the border of Park Slope and Gowanus, in Brooklyn. The site is just two blocks away from the Union Street Subway Station, serviced by the D and R trains. The Whole Foods Market right on the Gowanus Canal is also nine blocks away. Vanguard Investors will be responsible for the development.
The first commercial tower to open in Hudson Yards, 10 Hudson Yards, is still making headlines, having now achieved LEED-Platinum certification from the U.S. Green Building Council. This surpasses original expectations of a LEED-Gold Certificate. Developers Related Companies and Oxford Properties Group announced that this is the first commercial building in New York City to receive the award since the LEED v2009 rating system was established.
Delancey Street Associates has closed a deal for funding the construction of 180 Broome Street, on the Lower East Side. The capital comes from Wells Fargo and M&T Bank, along with equity from DSA and Goldman Sachs Urban Investment Group. The loan secures $200 Million out of the projected total construction cost of $300 million. Essex Crossing is being developed by Delancey Street Associates, which is comprised of BFC Partners, L+M Development Partners, Taconic Investment Partners, and Goldman Sachs.