In December, SL Green announced a partnership with Roc Nation in a bid to win development rights to construct a new Caesars Palace casino and hotel at 1515 Broadway in Times Square, Manhattan. Citing concerns about congestion, economic disturbance, and social harm, a group of community associations and neighboring businesses have formed a coalition to oppose any advancement on the proposed casino.
The affordable housing lottery has launched for 375 Lefferts Avenue, an eight-story residential building in Prospect Lefferts Gardens, Brooklyn. Designed by S. Wieder Architect with interiors by Classic Image, and developed by Leo Greenfield, the structure yields 41 residences. Available on NYC Housing Connect are 13 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $98,915 to $156,130.
As New York City abounds with fresh spring blooms, New York YIMBY has fresh numbers reflecting the permit filing activity that took place in the first quarter of 2023. In the period spanning from January through March, the Department of Buildings registered permits for 840 new buildings (surpassing last year’s quarterly average of 806), combining for a total of 13.4 million square feet. Of these, 668 building will be allocated for residential and hotel use, and will contribute a total of 9,138 units to the city. The full quarterly report, summarized below in a series of custom charts and analyses, is available with a subscription to YIMBY’s Building Wire.
Construction is complete on The Greene, a 21-story residential building at 45-30 Pearson Street in Long Island City, Queens. Designed by Marvel Architects and developed by ZD Jasper, the 229-foot-tall structure yields 62,000 square feet with 130 condominium units in studio to three-bedroom layouts, as well as ground-floor retail space and parking for 34 vehicles. Tom Wu under Davis Street Development LLC is the owner and Nest Seekers International is in charge of sales and marketing for the property, which is located off Jackson Avenue between Pearson Street and Davis Street.
Elmo Realty recently closed on a $26 million loan to finance the construction of an eight-story mixed-use building at 2535 Frederick Douglass Boulevard in Harlem, Manhattan. When complete, the property will comprise nearly 24,000 square feet of 53 rental apartments and commercial space.
