Construction is now underway at 510 Horseblock Road, the site of a new 292-unit, garden-style rental community in Farmingville, Long Island. Located within the Town of Brookhaven, the property previously functioned as a farm and spans roughly 62 acres.
Permits have been filed for a six-story mixed-use building at 2719 Fulton Street in Cypress Hills, Brooklyn. Located between Wyona Street and Bradford Street, the lot is three blocks west of the Van Siclen Avenue subway station, serviced by the J and Z trains. Sanjeev Kumor is listed as the owner behind the applications.
Figures for new construction permit filings for New York City for the second quarter of 2022 are in, and YIMBY’s latest analysis reveals that a number of positive trends emergent in the year’s first quarter have continued at a sustained pace. During the period spanning April, May, and June, the Department of Buildings registered permit filings for a combined total of around 13.1 million square feet, which, among other uses, includes 9,997 residential and hotel rooms. Although the square footage of the average filing is slightly smaller compared to the first quarter, the 857 new permits filed in the second quarter almost exactly match the total of 862 filings in the previous quarter, with both figures substantially exceeding quarterly averages from the previous year. Below we share a detailed analysis of the aggregated permit data. The full data set on which we based our research is available with a subscription to YIMBY’s Building Wire service.
The first rendering of 450 Washington Street has been released by developer Related Companies along with a teaser website. Located in Tribeca, the new condominium development is a full renovation of a former rental building, complete with new interior walls, layouts, façade, and windows. Designed by Roger Ferris + Partners, the full-block construction will bring 176 residences to the Hudson River waterfront. Hollander Design is handling landscape architecture. Corcoran Sunshine Marketing Group is exclusively handling marketing and sales at 450 Washington, with residences priced from approximately $1 to $10 million.
Demolition is moving along rapidly at 123 West 57th Street, the site of a 26-story commercial building on Billionaires’ Row in Midtown, Manhattan. Alchemy Properties and ABR Partners closed a $120 million deal to purchase the Midtown property from Calvary Baptist Church. ABR Partners’ equity partner, Cain International, had brought on Security Benefit Life as the new lender for the project, which will yield 185,000 square feet of office space and is estimated to cost $350 million. The property is located on a plot bound by West 57th Street to the south, West 58th Street to the north, Sixth Avenue to the east, and Seventh Avenue to the west.
