As the clock ticks down to the state’s 421-a renewal deadline on June 15, developers are wondering how they’ll fare if condos no longer qualify for the tax abatement. Companies building lower cost apartments on the fringes of the city will likely be the hardest hit, since the tax break helps attract buyers to less desirable neighborhoods.
Alexander Grinberg has filed applications for a three-building, four-unit residential development at the vacant lots 140-144 Clifton Avenue and 149 Anderson Street, in Staten Island’s Rosebank. Two three-story, single-family detached homes are slated for 140-144 Clifton Avenue, and a three-story, two-unit building measuring 2,260 square feet is planned on Anderson Street. Calvanico Associates is the architect of record.
YIMBY recently featured an update on construction at 50 West Street on the YIMBYgram, and now we have a new video of what the project will look like once work is complete, likely by early 2016. Time Equities is developing the 64-story building, which was designed by Helmut Jahn.
Developer Investmates Real Estate is building townhouses in South Williamsburg, rentals on Grand Street, and now condos in Greenpoint. They’ve sent along renderings of their latest project, a five-story condo development at 78 Freeman Street, only a block from the East River between Franklin and West Streets.
Alloy and Monadnock Development’s One John Street condos are rising quickly along the Dumbo waterfront in Brooklyn Bridge Park, already reaching 10 stories, after rising out of the ground only earlier this year.
