New York City Mayor Eric Adams announced plans to construct a new 82-unit affordable housing property at 258 West 97th Street on Manhattan’s Upper West Side. The project is the direct result of a $1.1 million settlement with illegal hotelier Hank Freid who owned and operated the property for more than a decade.
The affordable housing lottery has launched for 142 Richards Street, a four-story residential building in Red Hook, Brooklyn. Designed by OCV Architects and developed by Cheever Development, the structure yields 17 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 $94,115 to $167,570.
Construction has topped out on 55 Suffolk Street, a 30-story residential building on Manhattan’s Lower East Side. Designed by Dattner Architects and developed by Gotham Organization, the 310-foot-tall structure is the taller in the two-building Broome Street Development complex along with the 16-story The Norfolk Senior Housing Building at 64 Norfolk Street to the west. Both buildings will collectively span 387,223 square feet and yield a total of 488 rental units, of which 43 percent will be dedicated to permanently affordable housing. Monadnock Construction, Inc. is the general contractor for the two buildings, which are being built between Suffolk and Norfolk Streets.
Loketch Group, the Joyland Group, and Meral Property Group have formed a joint venture to begin a new mixed-use project at 555 Broadway in Brooklyn. The address represents a large, wedge-shaped assemblage on the border of South Williamsburg and Broadway Triangle.
The affordable housing lottery has launched for 1543 Jesup Avenue, a five-story residential building in Mount Eden, The Bronx. Designed by ADB Associates and developed by Lefko Capital Group, the structure yields 21 residences. Available on NYC Housing Connect are seven units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $59,143 to $167,570.
