SMA Equities recently secured a $56 million financing package to complete a new 20-story mixed-use building in Kips Bay, Manhattan. The project is located at 202 East 23rd Street and will eventually yield a mix of income-restricted and market-rate apartments and around 2,400 square feet of lower-level retail.
Construction is approaching topping out on 542 Atlantic Avenue, an 11-story residential building in Boerum Hill, Brooklyn. Alternately addressed as 533 Pacific Street, the 90,000-square-foot project is designed by Issac & Stern Architects and developed by Sterling Town Equities, which purchased the property in 2019 for $28 million, and will yield 43 condominiums and two four-story townhouses. The development is rising on a through-block parcel between Third Avenue to the west, Pacific Street to the south, and Fourth Avenue to the east, and is a short walk from Barclays Center and Downtown Brooklyn.
Exterior work is complete on Eleven Hancock, a 12-story condominium building at 11 Hancock Place in South Harlem, Manhattan. Designed by Issac & Stern Architects for Norto Development, the property yields 71 units ranging from studio to four-bedroom layouts, as well as three floors of retail space on the lower levels.
Façade work is nearing completion on 550 Clinton Avenue, as the tower crane has been removed from the eastern elevation of the 29-story mixed-use tower in Clinton Hill, Brooklyn. Designed by Morris Adjmi Architects and developed by Hope Street Capital, the 280,000-square-foot project will yield 284 apartments and about 60,000 square feet of retail area. The structure rises from a four-story podium bound by Atlantic Avenue to the south, Clinton Avenue to the east, and Vanderbilt Avenue to the west.