The Beitel Group has secured a $150 million loan for the development of 120 East 144th Street, a new residential project in Mott Haven, The Bronx. The funding, which was supplied by SCALE Lending, will support the construction of the 13-story, 450-unit property.
Mayor Eric Adams has announced a new initiative within the “City of Yes for Housing Opportunity” proposal that seeks to generate tens of thousands of affordable homes in New York City. The new initiative is targeting areas previously out of reach for many working-class New Yorkers due to an outdated floor-to-area-ratio cap, which historically has restricted the construction of new homes in high-demand zones. The proposal is seeking to lift the floor-to-area-ratio cap in these areas, such as in Midtown, Manhattan.
Camber Property Group and RiseBoro Community Partnership recently announced the groundbreaking for 1601 DeKalb Avenue, a $75 million affordable housing project in Bushwick, Brooklyn. When construction completes in December 2025, the development plans to boast 127 affordable housing units, 45 of which will be specifically aimed at providing stable housing and supportive services to young families.
National development and management company BXP has announced the opening of YETI’s first New York City flagship storefront at 200 Fifth Avenue in Flatiron, Manhattan. The outdoor products supplier will occupy 6,614 square feet across two floors in the building, which is located in a highly trafficked area directly across from Madison Square Park.
