The Rabsky Group recently closed on a $72 million construction loan to complete a new high-rise residential building at 240 Willoughby Street in Fort Greene, Brooklyn. Provided by SCALE Lending, the construction loan will also fund the renovation of an existing 21-story, 189-unit multifamily development within the same complex.
Permits have been filed for a six-story residential building at 990 Franklin Avenue in Crown Heights, Brooklyn. Located between Sullivan Place and Montgomery Street, the interior lot is near the Prospect Park subway station, serviced by the B, Q and shuttle trains. Ian Bruce Eichner of Continuum Company under the Franklin Avenue Property Owner LLC is listed as the owner behind the applications.
Work is continuing to take shape on the expansion of the Tiffany & Co. flagship store at 727 Fifth Avenue in Midtown, Manhattan. Designed by OMA partners Shohei Shigematsu and Jake Forster, the scope involves a three-story steel-framed structural addition that rises above the original flat roof line of the world famous jewelry brand’s 72-year-old Art Moderne building. CallisonRTKL is the architect of record, Peter Marino Architects is handling the interior renovations, Mace is the owners rep, and Structure Tone is the general contractor for the project, which now stands 11 stories tall at the corner of Fifth Avenue and 57th Street.
Exterior work is nearing completion on 30 West 39th Street, a 27-story hotel tower in Midtown, Manhattan. Designed by Peter Poon Architects and developed by Fortuna Realty, the 323-foot-tall reinforced concrete structure will yield 133,500 square feet with 330 guest rooms. Leeding Builders Group, LLC is the general contractor for the property, which is located between Fifth and Sixth Avenues, just one block south of Bryant Park.
Phipps Houses has closed on $116 million in financing to complete the fourth phase of Rockaway Village, a mixed-use affordable housing project in Far Rockaway, Queens. The ongoing development is slowly replacing an abandoned shopping center and will comprise 1,700 units of affordable housing, 120,000 square feet of commercial and community facility space, and 590 parking spaces.
