Per The Real Deal, Raphael Toledano has acquired the six-story, 39-unit rental building at 125 West 16th Street, in southeastern Chelsea, for $41.5 million. The new owner plans to add two stories and 20 units to the top of the building, and the existing structure will also be renovated. Madison Realty Capital provided $34 million for the purchase and construction costs.
YIMBY first reported that ODA would be designing a tower at 75 Nassau Street last fall, which was followed by news of a height reduction this past March, via the project’s first permits. And now, we have the full reveal for the tower, which is being developed by Lexin Capital.
Construction is starting to pick up in East Harlem, where YIMBY spotted this rendering on the fence at 318 East 112th Street, between 1st and 2nd Avenues.
Developer Stagg Group is taking the northern Bronx by storm, and their latest project is an apartment building planned for 29 Featherbed Lane in Morris Heights, just across the Harlem River from Washington Heights.
The Bed Stuy Blog spotted renderings for a four-story, 31-unit residential building under development by The Iconic Group at 281-291 Tompkins Avenue, in central Bedford-Stuyvesant. The project will technically be an expansion of the existing two-story buildings, and completion is expected in the summer of 2016. Nataliya Donskoy is designing.