SMA Equities recently secured a $56 million financing package to complete a new 20-story mixed-use building in Kips Bay, Manhattan. The project is located at 202 East 23rd Street and will eventually yield a mix of income-restricted and market-rate apartments and around 2,400 square feet of lower-level retail.
The affordable housing lottery has launched for 276 Grand Concourse, a 12-story mixed-use residential building in Mott Haven, The Bronx. Designed by ND Architecture and Design, the 195,248-square-foot structure yields 215 units. Available on NYC Housing Connect are 65 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $65,143 to $192,400.
Work is shaping up on the white terracotta façade of 58 Saint Marks Place, a 12-story residential building in Boerum Hill, Brooklyn. Developed by Avdoo & Partners and designed by INC Architecture & Design with Isaac & Stern as the architect of record, the long rectangular structure will yield 100 units and is bound by 4th Avenue to the east, St. Mark’s Place to the north, and Willie McDonald Way to the south.
Construction is approaching topping out on 542 Atlantic Avenue, an 11-story residential building in Boerum Hill, Brooklyn. Alternately addressed as 533 Pacific Street, the 90,000-square-foot project is designed by Issac & Stern Architects and developed by Sterling Town Equities, which purchased the property in 2019 for $28 million, and will yield 43 condominiums and two four-story townhouses. The development is rising on a through-block parcel between Third Avenue to the west, Pacific Street to the south, and Fourth Avenue to the east, and is a short walk from Barclays Center and Downtown Brooklyn.
Jonathan Rose Companies, L+M Development Partners, and Acacia Network recently closed on a $223 million financing package to complete the second and final phase of Sendero Verde. The complex is located on Madison Avenue between East 111th and East 112th Streets in East Harlem and spans a full city block.
