209-225 East 19th Street

Cabrini Medical Center Redevelopment Lands $345.5 Million Loan, Gramercy

10:00 am on July 30, 2015 By Reid Wilson

In March, YIMBY revealed renderings of the four-building, 223-unit condominium redevelopment of Cabrini Medical Center, in Gramercy. Now, developers Chetrit Group and Clipper Equity have closed on a $345.5 million loan for the project, according to Commercial Observer. Dubbed Gramercy Square, three medical buildings will be converted, and a fourth building will be constructed ground-up. Also planned is a 25,000 square-foot court yard, designed by M. Paul Friedberg and Partners; Woods Bagot is the project’s design architect. Completion is expected in 2016.

62-68 Somers Street, image via Google Maps

24 Market-Rate Units Planned Near Broadway Junction in Ocean Hill: 62-68 Somers Street

7:00 am on July 30, 2015 By Rebecca Baird-Remba

As the clock ticks down to the start of the city’s East New York rezoning process in the fall, YIMBY has noticed an uptick in market-rate filings on the soon-to-be-valuable real estate around Broadway Junction. And now plans are in the works for three small apartment buildings at 62-68 Somers Street, just beyond the western patch of Ocean Hill that’s about to be rezoned.

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New York Wheel

Construction Begins On Staten Island’s 630-Foot New York Wheel, St. George

6:30 am on July 30, 2015 By Reid Wilson

Fencing is up around the site of Staten Island’s planned New York Wheel, in St. George, and it appears construction is now in full motion, per the Staten Island Advance. In 2014, YIMBY brought you renderings of the 630-foot-tall Ferris wheel, which ‘New York Wheel LLC’ is developing and Starneth BV is designing (with Perkins Eastman). Completion is expected in the first half of 2017, alongside the Empire Outlets, also in St. George.