The affordable housing lottery is open for 2633 Ocean Avenue Apartments, an eight-story mixed-use development at 2633 Ocean Avenue in Sheepshead Bay, Brooklyn. The 53,304-square-foot corner building is designed by Zproekt Architects and developed by Michael Lilikakis, and will yield a total 60 units in a mix of studios and one- and two-bedroom units. Available on NYC Housing Connect are 18 apartments for residents at 130 percent of the area median income, ranging in eligible income from $56,572 to $159,640.
Permits have been filed for a nine-story mixed-use building at 52 4th Avenue in Boerum Hill, Brooklyn. Located at the intersection of Dean Street and 4th Avenue, the corner lot is one block from the Atlantic Avenue/Barclays Center subway station, serviced by the 2, 3, 4, 5, B, D, N, Q, and R trains. RJ 4th Avenue LLC is listed as the owner behind the applications.
Excavation is underway at 141 East 47th Street, the site of a 35-story residential tower in Midtown East. The 183,310-square-foot project is designed by Ismael Leyva Architects and developed by Silverback Development. The latter was brought on by Hopson Development Holdings, which purchased the parcel for $115 million in December 2019 from the original developers, New Empire Real Estate. Located between Park Avenue and Lexington Avenue, the development is set to yield 200 units and cost $250 million.
Last week, private equity real estate fund manager Red Stone Equity Partners celebrated the closing of financing for Balton Commons, a $19-million mixed-use development currently under construction at 267 West 126th Street in Harlem, Manhattan. Developed in partnership with Lemor Development Group and Apex Building Group, the seven-story building will have 4,500 square feet of tech incubator space managed by non-profit Silicon Harlem, 1,200 square feet of ground-floor commercial space, 1,350 square feet of community facility space, and 37 residential units dedicated to mixed-income affordable housing for residents between 30 and 90 percent of the area median income.
The final exterior touches are underway on 12 East 48th Street, a 367-foot-tall hotel tower in Midtown East. Designed by Handel Architects and developed by Hidrock Realty, the property is set to house a 161-room, 125,000-square-foot Hilton Grand Vacation Hotel. DeSimone Consulting Engineers is the structural engineer, The Rinaldi Group is the general contractor, and IBA Consulting & Engineering, PLLC is the envelope consultant for the building, which is located between Madison Avenue and Fifth Avenue.