Titan Real Estate Development recently received preliminary approval for financial incentives from the Yonkers IDA to support the construction of a $117.7 million residential development in Yonkers. The project, called Park Square, will be located on a vacant 3.88-acre site bounded by St. Joseph Place, Cavalli Circle, and Vineyard Avenue.
Construction is almost finished on The Ellery, a 33-story mixed-use tower at 312 West 43rd Street on the southern border of Hell’s Kitchen in Midtown, Manhattan. Designed by Handel Architects and developed by National Real Estate Advisors and Taconic Partners, the 401-foot-tall structure will yield 330 rental units in studio to two-bedrooms layouts, as well as 28,000 square feet of amenities and up to 42,000 square feet of retail space spread across two levels. The property is located between Eighth and Ninth Avenues, directly north of the Port Authority Bus Terminal and its subway station, servicing the A, C, and E trains.
The Yonkers Industrial Development Agency has granted preliminary approval for financial incentives supporting three new mixed-use developments, representing a total private investment of approximately $463.5 million. Among these projects is AMS Acquisitions‘ $306.7 million development at 18 North Broadway in Yonkers. The project will consist of two 25-story residential towers.
Construction is continuing on THE 74, a 32-story residential tower at 201 East 74th Street on Manhattan’s Upper East Side. Designed by Pelli Clarke & Partners with SLCE Architects as the architect of record and developed by Elad Group, which purchased the property for $61 million in April 2022, the 420-foot-tall structure will yield 42 condominium units and a collection of residential amenities. Rafael de Cardenas is the interior designer for the amenity spaces and the residences, which are being marketed by Douglas Elliman Development Marketing and will include half-floor two- and three-bedroom units, full-floor four- and five-bedroom homes, a single free-standing townhome, and a duplex penthouse. The property is alternately addressed as 1299 Third Avenue and located on an interior lot facing Third Avenue with two small panhandle extensions to East 74th and East 75th Streets.
Construction is finishing up on 5-22 49th Avenue, a five-story residential building in the Hunters Point section of Long Island City, Queens. Designed by Issac & Stern Architects and developed by Amir Zicherman of Oren & Ivy LLC, the 50-foot-tall structure spans 9,984 square feet and will yield 15 rental units with an average scope of 665 square feet, as well as a 30-foot-long rear yard and six enclosed parking spaces. The property is located on a rectangular interior lot between Vernon Boulevard to the east and 5th Street to the west.
