Lionheart Strategic Management LLC, an affiliate of Fisher Brothers, has provided a $27.6 million loan for the construction of 644 East 14th Street, a 24-story residential building in the Alphabet City section of the East Village of Manhattan. The loan comes in addition to a $102 million senior loan that was provided by Apollo Global Management.
The affordable housing lottery has launched for 18-26 Redfern Avenue, an eight-story mixed-use building in Far Rockaway, Queens. Developed by Camber Property Group and designed by Urban Architectural Initiatives, the structure yields 59 residences. Available on NYC Housing Connect are 58 units for residents at 60 percent of the area median income (AMI), ranging in eligible income from $48,309 to $100,620.
Permits have been filed for a six-story mixed-use building at 794 Classon Avenue in Crown Heights, Brooklyn. Located at the intersection of St. Johns Place and Classon Avenue, the lot is near the Eastern Parkway-Brooklyn Museum subway station, serviced by the 2, 3, and 4 trains. Theordore Trachtenberg of St. Johns Associates is listed as the owner behind the applications.
Construction has topped out on 544 Carroll Street, a 17-story residential building on the eastern edge of Gowanus, Brooklyn. Designed and developed by Avery Hall with L+Z Architecture as the architect of record, the 175,000-square-foot structure will yield 133 rental units with 25 percent designated as affordable housing, as well as 6,000 square feet of ground-floor retail space. The property is alternately addressed as 272 Fourth Avenue and bound by Carroll Street to the north and 4th Avenue to the east. The project is expected to cost between $90 and $120 million.
