Sage Realty and Principal Real Estate Investors have secured a $127.5 million financial package to complete major capital improvements at 77 Water Street, a 26-story commercial building in Manhattan’s Financial District. The scope of work will focus on the pedestrian plaza at the foot of the property, upgrades to the lobby, and a redesign of the existing arcade.
Permits have been filed for a seven-story residential building at 2361 Morris Avenue in Fordham, The Bronx. Located at the intersection of East 184th Street and Morris Avenue, the corner lot is two blocks from the 183rd Street subway station, serviced by the 4 train. Mendy Tessler is listed as the owner behind the applications.
The affordable housing lottery has launched for 724 Elton Avenue, a four-story residential building in Melrose, The Bronx. Built in 1931 for industrial use, the structure was altered in 2017 for residential use. Available on NYC Housing Connect are five units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $65,143 to $187,330.
Façade installation is finishing up on 55 Suffolk Street, a 30-story residential tower in the two-building Broome Street Development complex on Manhattan’s Lower East Side. Designed by Dattner Architects and developed by Gotham Organization, the 310-foot-tall structure stands directly to the east of The Norfolk Senior Housing Building, its 16-story sibling at 64 Norfolk Street. The complex rises from a shared podium and will yield a combined 387,223 square feet with 493 rental units, of which 43 percent will be dedicated to permanently affordable housing. Monadnock Construction is the general contractor for the property, which is located between Suffolk and Norfolk Streets.
Macklowe Properties has revealed new images of amenities and residential units at One Wall Street, New York City’s largest ever office-to-residential conversion. Located in Manhattan’s Financial District, the property houses 566 condominiums, a 44,000-square-foot Whole Foods Market, and a four-floor, 75,000-square-foot Life Time fitness center.
