The affordable housing lottery has launched for 7910 4th Avenue, a six-story residential building in Bay Ridge, Brooklyn. Developed by MingJi Ave4 Realty, LLC, the structure yields 15 residences. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $99,738 to $238,160.
Renovations are progressing on 383 Madison Avenue, a 47-story office skyscraper in Midtown East, Manhattan. Designed by Skidmore, Owings & Merrill along with Foster + Partners and Gensler, the project involves the replacement of the 755-foot-tall structure’s façade and reconfiguration of its 1.2 million square feet of office space to serve JPMorgan Chase’s investment banking division. The property is located between Madison and Vanderbilt Avenues and East 46th and East 47th Streets, directly south of the JPMorgan Tower at 270 Park Avenue.
Construction is underway on the office-to-residential conversion of 111 Wall Street, a 30-story tower in Manhattan’s Financial District. Designed by Gensler and developed by InterVest Capital Partners and MetroLoft Development, the project will span more than 899,000 square feet and yield approximately 1,568 rental units. Twenty-five percent of the residential inventory will be reserved for affordable housing for residents earning an average of 80 percent of the area median income, qualifying the development for New York City’s Affordable Housing Conversion Program. The development will also include 7,000 square feet of ground-floor retail space and more than 100,000 square feet of amenities. The property is located between South and Front Streets.
A new rendering was recently unveiled for 70 Jackson Street, an eight-story residential building in Yonkers, Westchester County. Designed by Meridian Design Associates and developed by Alma Realty Corp., the 150,000-square-foot structure will yield 128 units, with 10 percent dedicated to affordable housing. The property is located between Jackson Street and Groshon Avenue.
Permits have been filed for a six-story mixed-use building at 704 Lefferts Avenue in East Flatbush, Brooklyn. Located between Troy Avenue and Albany Avenue, the lot is near the Crown Heights–Utica Avenue subway station, served by the 2, 3, 4, and 5 trains. Yisroel Kanar of IK Management LLC is listed as the owner behind the applications.
