Residential


25 Great Jones Street

11-Story Condo Project At 25 Great Jones Street Gets Refinanced, NoHo

Second Development Services and Richport Group have acquired a new $28 million construction loan for their 11-story, six-condo-unit building under construction at 25 Great Jones Street/22 Bond Street, in NoHo, reports Commercial Observer. The project is being sculpted out of a previously half-way completed hotel structure, and BKSK Architects is designing. The $52 million project is proceeding, although behind schedule, and an opening date hasn’t been revealed yet.

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373 Classon Avenue

Four-Story, Four-Unit Residential Project Filed For 373 Classon Avenue, Bed-Stuy

Property owner Ray Sapiro has filed applications for a four-story, four-unit residential building at 373 Classon Avenue, in western Bedford-Stuyvesant (on the border with Clinton Hill). The building will measure 4,000 square feet, and each unit will have its own floor. Oscar Fuertes’ OMF Architecture is designing, and an existing single-story structure must first be removed.


Construction Workers on NYC’s Public Projects Make Up To 177% More Than Private Industry Counterparts

New York City’s infrastructure crisis stems from many issues, but one of the biggest problems in maintaining and expanding the city’s arteries are construction costs, which have ballooned into a stratosphere of unknown numbers and complete non-transparency on the part of city agencies. But now YIMBY has obtained data showing that salaries are up to 177% higher for unionized employees of contractors performing public works projects and building service work for government agencies than the prevailing wages of their respective private industry counterparts.

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