YIMBY checked in on five new residential projects coming to The Bronx neighborhoods of Highbridge and Concourse. Located along Jerome and River Avenues, the projects will create more than 900 new homes on properties formerly occupied by auto shops and parking lots. The properties are all within walking distance of the 4 train between the 167th and 170th Street subway stations.
Permits have been filed for a four-story mixed-use building at 1281 37th Street in Borough Park, Brooklyn. Located at the intersection of 13th Avenue and 37th Street, the lot is near the Church Avenue subway station, served by the F and G trains. Shmaye Rabinowitz of 284 Prospect Park West LLC is listed as the owner behind the applications.
Construction is complete on 50 Hudson Street, a five-story mixed-use commercial building in Tribeca, Manhattan. Designed by Thierry Despont and developed under the 50 Hudson LLC, the project involved the construction of a two-story expansion above an existing three-story building, bringing its floor area to 26,500 square feet. Peter Shinoda of of Jacobson/Shinoda Architects PC served as the executive architect of record and Jacqueline Peu-Duvallion served as the historic preservation consultant for the property, which is located at the southeast corner of Hudson and Thomas Streets.
A new rendering was posted for 28 West 37th Street, a 34-story residential tower in Midtown South, Manhattan. Designed by C3D Architecture and developed by Sioni Group, the same team behind Casoni at 989 Sixth Avenue, the 418-foot-tall structure will span 85,894 square feet and yield 95 rental units with an average scope of 899 square feet, according to permits filed in March. The project will also include 454 square feet of commercial space, a cellar level, and a 20-foot-long rear yard. The property is located between Fifth and Sixth Avenues.
Financing has been arranged for a two-property industrial portfolio in Maspeth, Queens. Lake Forest Bank & Trust Company, N.A. supplied the $50.15 million in debt, which JLL’s Capital Markets group arranged on behalf of Sitex Group and a diversified global investment management firm. The financing comprises a $39.4 million loan for 58-80 Borden Avenue and a $10.75 million loan for 54-12 48th Street. The portfolio spans a combined 182,511 square feet of land and is 100 percent leased, with both properties positioned near the Long Island Expressway and the Brooklyn-Queens Expressway.
