Governor Kathy Hochul Reveals Updated Plans And Renderings For Penn Station Overhaul in Midtown, Manhattan

8:00 am on November 4, 2021 By Michael Young

Yesterday afternoon Governor Kathy Hochul revealed numerous new renderings of what the outdated 53-year-old Penn Station and the surrounding Midtown, Manhattan district could soon become. Despite being slightly downsized by 7 percent from former Governor Cuomo’s ten-building master plan, the new proposal still encompasses an incredible 18.3 million square feet of construction and redevelopment. Vornado Realty Trust is the developer of the master plan, which is expected to take four to five years to complete and cost between $6-7 billion.

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Housing Lottery Units Still Available at 2955 Brighton 5th Street in Brighton Beach, Brooklyn

7:00 am on November 4, 2021 By Vanessa Londono

The affordable housing lottery has launched for 2955 Brighton 5th Street, a six-story residential building in Brighton Beach, Brooklyn. Designed by Zarina Kindo’s Brooklyn-based Arcon Studio, the structure yields 15,795 square feet with 20 residences. Available on NYC Housing Connect are six units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $63,429 to $167,570.

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Permits Filed for 240 West 123rd Street in Harlem, Manhattan

6:30 am on November 4, 2021 By Vanessa Londono

Permits have been filed for a seven-story residential building at 240 West 123rd Street in Harlem, Manhattan. Located between Adam Clayton Powell Jr. Boulevard and Frederick Douglass Boulevard, the lot is two blocks from the 125th Street subway station, serviced by the 2 and 3 trains. Tomas Machiavello of Freres, Inc. is listed as the owner behind the applications.

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YIMBY’s 2021 Q2 and Q3 Report Reveals 19,052 New Residential Unit Filings from April through September

8:00 am on November 3, 2021 By Vitali Ogorodnikov

The figures for new Department of Building project filings in New York City for the second and third quarter of 2021 are in, and the results are positively impressive. During the half-year period spanning April through September, builders have filed new permits for a total of 1,023 buildings, which range from skyline-altering skyscrapers to humble single-car garages. The total volume of these proposals adds up to 21,111,222 square feet, much of which will be residential space. Upon completion, the buildings will add a combined 19,052 residences, an impressive number even if it still falls short of the city’s dire need for new housing. The full Excel spreadsheet of all Q2 and Q3 2021 applications is available with purchase of the Building Wire subscription.

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