The affordable housing lottery has launched for 555 Waverly Avenue, an eight-story residential building in Clinton Hill, Brooklyn. Designed by HTO Architect and developed by Madison Realty Capital, the structure yields 190 residences. Available on NYC Housing Connect are 13 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $65,315 to $167,570.
Ranger Properties and KD Sagamore Capital have closed on a $40 million loan to complete a new multi-family rental building at 982-988 Fulton Street in Clinton Hill, Brooklyn. Financing was provided by SCALE Lending, an affiliate of Slate Property Group.
Permits have been filed for a four-story residential building at 75-02 21st Avenue in Far Rockaway, Queens. Located between Beach 22nd Street and Grassmere Terrace, the 16,230-square-foot interior lot is closest to the Far Rockaway-Mott Avenue subway station, serviced by the A train. Aharon Steinberg is listed as the owner behind the applications.
Leasing is now underway at 99 Bridge, a new rental property in Old Bridge, New Jersey. From BNE Realty Group, LPZ, and Sterling Properties, the community is located at 99 Old Amboy Road and houses a collection of 150 apartments and lifestyle amenities.
SCALE Lending recently provided $65.9 million in financing to facilitate the completion of a new 19-story residential building at 26-25 Fourth Street in Astoria, Queens. Designed by J Frankl Associates and developed by Bruman Realty, the 289,000-square-foot structure will stand 204 feet tall and yield 165 rental apartments, 38,000 square feet of retail space, and a 101-vehicle parking garage on a lot between 26th and 27th Avenues.
