Downtown Brooklyn‘s ever-expanding skyline is set for yet another major imminent addition with the impending rise of 540 Fulton Street. Set to stand 511 feet tall with 327 residential units, the tower will certainly make an impact on the surrounding neighborhood. Designed by Marvel Architects and developed by Jenel Management, the 42-story project will span close to 333,000 square feet. About 96,600 square feet will be allocated towards commercial space, while nearly 236,900 square feet will be used for the residential component.
Following last year’s purchase of 685 Fifth Avenue, developer Michael Shvo has announced a partnership with Mandarin Oriental Hotel Group to manage a collection of condominiums within the property. Rounding out the development team for the project is Turkish investment group Bilgili Holding and investment management firm Deutsche Finance.
Permits have been filed for a five-story apartment building at 322 Graham Avenue in East Williamsburg, Brooklyn. Located between Ainslie Street and Devoe Street, the interior lot is one block south of the Graham Avenue subway station, serviced by the L train. Joel Schwartz of Southside Units is listed as the owner behind the applications.
With the main facade beginning to shed the black construction netting and scaffolding, the dark-colored glazed bricks covering The Brooklyn Grove have begun to be unveiled. Standing above Boerum Hill just off of Flatbush Avenue, the new building is located at 10 Nevins Street. The 27-story residential tower will have 184 units comprised of studios to three-bedroom layouts. It is being designed by ODA, with Stephen B. Jacobs Group serving as the architect or record. Adam America Real Estate, Slate Property Group and Vanke US are the developers, while The Aguayo Team of Halstead Property Development Marketing is handling sales.
JLL Capital Markets recently announced the successful acquisition of a $36.7 million loan to facilitate the construction of a new, mixed-use condominium building in Manhattan. Located on the border of Flatiron and Chelsea, the building’s official address is 128-130 West 23rd Street, and the project is already under construction.