BRP Companies and its development partners have closed on a $294 million construction loan to complete a new 477-unit rental building in downtown New Rochelle. Located at 500 Main Street, the collection of homes will range from studios up to two-bedroom accommodations including 119 affordable housing units.
Permits have been filed for a nine-story mixed-use building with affordable housing at 11-20 Broadway in Astoria, Queens. Located between 11th and 12th Streets, the lot is closest to the Broadway subway station, serviced by the N and W trains. Damien Smith of First Standard Construction is listed as the owner behind the applications.
Excavation work is moving along at 27-01 Jackson Avenue, the site of a 27-story residential skyscraper in the Court Square district of Long Island City, Queens. The 151,000-square-foot tower is being designed by SLCE Architects for Fetner Properties and Lions Group, which secured a $95 million construction loan for the development. The financial package was done under a joint venture, American Lions, LLC, with the funds provided by Bank Leumi USA, Leumi Partners, and Israel Discount Bank. Lions Group II, LLC is the general contractor for the property, which is located at the corner of Jackson and 43rd Avenues.
BNE Real Estate Group was joined by local officials to celebrate the grand opening of Station Bay, a 291-unit rental complex at 1000 Schindler Drive in South Amboy, New Jersey. As the first phase of the $500 million redevelopment project to be completed, Station Bay is now the town’s largest multifamily rental complex and will soon welcome new tenants.
Permits have been filed for a 20-story mixed-use building at 175 3rd Street in Gowanus, Brooklyn. Located between the Gowanus Canal and 3rd Avenue, the lot is within walking distance of the Carroll Street subway station, serviced by the F and G trains. Thomas Lavin is listed as the owner behind the applications.