Naftali Group has secured a $236 million construction loan for 255 East 77th Street, a 36-story residential skyscraper on Manhattan’s Upper East Side. Provided by J.P. Morgan and Starwood Capital, the loan will will help complete the 500-foot-tall structure, which is currently in the excavation phase.
The affordable housing lottery has launched for Mount Hope Walton Apartments, a 14-story mixed-use building at 1761 Walton Avenue in Mount Hope, The Bronx. Developed by Procida Development Group and Mount Hope Housing Corporation and designed by Aufgang Architects, the structure yields 103 income-restricted apartments and a 9,500-square-foot community gymnasium. Available on NYC Housing Connect are 86 units for residents at 30 to 80 percent of the area median income (AMI), ranging in eligible income from $24,515 to $140,080.
Permits have been filed for a 19-story residential building to be used for shelter housing at 280 East 161st Street in Concourse Village, The Bronx. Located near the intersection of East 161st Street and Morris Avenue, the lot is near the 161st Street-Yankee Stadium subway station, serviced by the 4 train. Dimitrios Katehis of Gilbane Development Co. is listed as the owner behind the applications.
At number 12 on our year-end countdown of the tallest buildings under construction in New York is The Brook, a 575-foot-tall residential skyscraper at 589 Fulton Street in Downtown Brooklyn. Designed by Beyer Blinder Belle and developed by Witkoff Group and Apollo Global Management, the 51-story structure will span 557,973 square feet and yield 591 rental units with an average scope of 827 square feet, with 30 percent of the inventory reserved for affordable housing, as well as 68,693 square feet of retail space, a cellar level, and two floors of recreational and sports amenities. Bonetti Kozerski is the interior designer and Suffolk Construction is the general contractor for the project, which is bound by DeKalb Avenue to the north, Fulton Street to the south, Flatbush Avenue diagonally to the east, and Bond Street to the west.
Cappelli Development Company has announced the opening of Encore, a 28-story residential tower at 325 Huguenot Street in downtown New Rochelle. The structure yields 241 apartments, with units on the upper floors providing panoramic views of the Long Island Sound and the New York skyline.
