A $79 million construction loan was recently issued for 250 West 49th Street, a 28-story residential building currently under construction in Midtown, Manhattan. Designed by C3D Architecture and developed by Chess Builders, the tower will yield 138 units and 2,500 square feet of ground-floor retail space. The loan was facilitated by S3 Capital.
The 12-story residential building known as Hendrix House at 250 East 25th Street in Kips Bay, Manhattan recently revealed it’s completed facade after topping off last August. Developed by New Empire Corp. and designed by DXA Studio, the 44,571-square-foot structure at the corner of Second Avenue and East 25th Street yields 60 condominium units. CORE Real Estate is handling sales and marketing, having launched sales in June 2024. Hendrix House has sold 75 percent or 45 units, totaling near $60 million in inventory at $2,133 per square foot.
Work is wrapping up on 655 Union Street, a 13-story residential building in Gowanus, Brooklyn. Designed by L+Z Architecture and developed by Avery Hall and Gindi Capital, the 200,000-square-foot structure will yield 193 rental units in one- to two-bedroom layouts, as well as 14,000 square feet of ground-floor retail space. Fifty of the units will be designated for affordable housing. The half-acre property is alternately addressed as 204 4th Avenue and bound by Sackett Street to the north and Raul Vasquez Jr. Place to the south.
Construction is complete on Pearl House, an office-to-residential conversion at 160 Water Street in Manhattan’s Financial District. Designed by Gensler and developed by Vanbarton Group, the project involved the construction of a three-story rooftop expansion atop an existing midcentury tower and the conversion of its 525,000 square feet of office space to yield 588 rental units. The property is located at the corner of Water and Fletcher Streets.
Permits have been filed to expand two three-story structures into four-story mixed-use buildings at 1123-1125 Broadway in Bushwick, Brooklyn. Located between Dekalb Avenue and Kosciuszko Street, the lot is steps from the Kosciuszko Street subway station, served by the J train. Kevin Yang is listed as the owner behind the applications.
