Rendering of Innovative Urban Village, via Gotham Organization

Innovative Urban Village Receives $270 Million In Construction Financing In East New York, Brooklyn

7:30 am on April 10, 2024 By Max Gillespie

Gotham Organization, in collaboration with Monadnock Development, the Christian Cultural Center, and New York City and State authorities, has secured $270 million in construction financing for the first phase of the Innovative Urban Village in East New York, Brooklyn. The project, which was designed by PAU, aims to transform 10.5-acre site currently owned by the Christian Cultural Center into a mixed-use urban village.

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Housing Lottery Launches for Fabric Astoria at 22-51 45th Street in Astoria, Queens

7:00 am on April 10, 2024 By Vanessa Londono

The affordable housing lottery has launched for 22-51 45th Street, one of two eight-story buildings in the Fabric Astoria residential complex in Astoria, Queens. Designed by Dattner Architects and developed by Mega Development, the structure yields 64 residences. Available on NYC Housing Connect are 20 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $62,983 to $146,900.

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262 Fifth Avenue Structurally Tops Out Over NoMad, Manhattan

8:00 am on April 9, 2024 By Michael Young and Matt Pruznick

Construction has structurally topped out on 262 Fifth Avenue, a 56-story residential skyscraper in NoMad, Manhattan. Designed by Meganom with SLCE Architects as the executive architect and developed by Boris Kuzinez of Five Points Development under the Five Points 262 Project LLC, the 860-foot-tall structure will yield 26 condominium units with an average scope of 3,200 square feet, including at least one quadruplex unit. GEA Consulting Engineers is the MEP engineer and CM & Associates Construction Management is the general contractor for the project, which rises from a 5,000-square-foot plot at the southwest corner of Fifth Avenue and West 29th Street.

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41-08 Crescent Street Readies for Excavation in Astoria, Queens

7:30 am on April 9, 2024 By Michael Young and Matt Pruznick

Excavation is set to begin at 41-08 Crescent Street, the site of a planned residential tower in Long Island City, Queens. YIMBY last reported that the property would give rise to a 17-story, 189-foot-tall structure designed by Dan Ionescu Architects, developed by Forte Italia LLC, and owned by TPEC Management. However, it appears that the scope of the project may have changed under the new ownership of The Pecora LLC. WMCM LLC is the general contractor for the property, which is bound by 41st Avenue to the northeast, 24th Street to the northwest, and Crescent Street to the southeast.

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