Merchants Capital has provided $104 million in construction financing for a major rehabilitation project at Harlem River Houses and the adjacent Harlem River II Campus, collectively known as Harlem River Houses I and II. The New York City Housing Authority (NYCHA) public housing complex sits between 151st and 153rd Street, Macombs Place, and Harlem River Drive in Harlem.
Below-grade work is continuing to progress at 625 Fulton Street, the site of a planned 35-story tower in Downtown Brooklyn. Designed by Fischer Rasmussen Whitefield Architects and developed by Rabsky Group, which closed on $450 million in construction financing from Madison Realty Capital, the building will yield 1,098 units, 26,000 square feet of retail space, and a parking garage for up to 250 vehicles. The project has gone through numerous design iterations since its conception, including work by Skidmore Owings & Merrill, and is located on a plot bound by Fulton Street to the south, Hudson Avenue to the west, Rockwell Place to the east, and the 34-story 80 DeKalb Avenue to the north.
Closings have begun for the 46 condominium units within the main tower of 111 West 57th Street, a 1,428-foot residential supertall in Midtown. Designed by SHoP Architects and developed by JDS Development, Property Markets Group, and Spruce Capital Partners, the 84-story edifice stands as the world’s most slender building. Studio Sofield is the interior designer and The Corcoran Group is leading sales and marketing for the residences, which also include 14 homes within the restored Steinway Hall building in the podium. WSP is the structural engineer, RWDI consulted with the design of the 800-ton tuned mass damper, Jaros, Baum & Bolles is the MEP engineer, R&R Scaffolding Ltd. provided the building maintenance unit (BMU) sitting atop the crown, and BuroHappold Engineering is the façade consultant for the project, which is located between Sixth and Seventh Avenues on Billionaires’ Row.
Demolition has begun on 665 Fifth Avenue, where Rolex is replacing its former 12-story International Style headquarters with a modern 21-story tower in Midtown. Designed by David Chipperfield Architects and developed by Rolex Realty Company LLC, the new building will feature office space and retail frontage. Howard I. Shapiro & Associates filed permits last summer for the project, which is located on an 11,050-square-foot parcel at the intersection of Fifth Avenue and East 53rd Street.
Newark’s historic Walker House at 540 Broad Street is now home to a local brewery and a 22,000-square-foot indoor rock-climbing gym, the latest phase of a multimillion-dollar redevelopment plan led by LMXD, Prudential Financial Inc., and Goldman Sachs Urban Investment Group. Located in the heart of downtown, Newark Local Beer and Method Climbing + Fitness sit below 20 stories of rentals that debuted in 2020.