Rendering of 335 Eighth Avenue - Courtesy of MAG Partners, COOKFOX Architects

$151.4M Capitalization Secured For 335 Eighth Avenue In Chelsea, Manhattan

JLL Capital Markets has arranged a $151.4 million capitalization for 335 Eighth Avenue, a seven-story mixed-use building under construction in Chelsea, Manhattan. Designed by COOKFOX and developed by MAG Partners and Safanad, the structure will yield 188 units with 30 percent reserved for low- and middle-income residents, as well as over 30,000 square feet of amenities, 25,461 square feet of retail space, and 1,150 square feet of community facility space. Financing was secured from Bank OZK and MetLife Investment Management for the project, which broke ground in October 2023.

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Naftali Group Files Permits for 21-Story Tower at 1 Division Avenue in Williamsburg, Brooklyn

Permits have been filed for a 21-story tower at 1 Division Avenue in Williamsburg, Brooklyn. Located between the waterfront and Kent Avenue, the lot is near the South Williamsburg ferry stop and the Marcy Avenue subway station, serviced by the J, M, and Z trains. Naftali Group is listed as the owner behind the applications and also responsible the complex rising nearby at 470-490 Kent Avenue.

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300 East 83rd Street’s Exterior Progresses on Manhattan’s Upper East Side

Work is progressing on 300 East 83rd Street, a 22-story residential building in the Yorkville section of Manhattan’s Upper East Side. Designed by SLCE Architects and developed by Lalezarian Properties, the 235-foot-tall structure will span 93,682 square feet and yield 70 condominium units with an average scope of 1,305 square feet, as well as cellar level and ground-floor retail space. A portion of the homes will be reserved for affordable housing. Hudson 37 LLC is the general contractor for the project, which is alternately addressed as 1594-1598 Second Avenue and located at the corner of East 83rd Street and Second Avenue.

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10-04 Borden Avenue Nears Completion in Long Island City, Queens

Work is continuing on 10-04 Borden Avenue, a three-story commercial building in Long Island City, Queens. Developed and built by The Vorea Group under the Borden Ave Opportunity Zone Business LLC, the 56,000-square-foot structure will feature New York City’s first iFLY indoor skydiving facility and a separate commercial space. The plot spans nearly half an acre by the three-way intersection of Borden Avenue, Vernon Boulevard, and Jackson Avenue.