Carmel Partners landed a $233 million loan to complete a 17-story rental building at 54 Crown Street in Crown Heights, Brooklyn. Designed by Hill West Architects, the structure will contain 569 apartments, 182 enclosed parking spaces, around 7,500 square feet of ground-floor retail space, and a 1,500-square-foot community facility.
Construction is nearing completion on 107 North 1st Street, a five-story commercial building in Williamsburg, Brooklyn. Designed by Melamed Architects and developed by 107 North First Street Realty, LLC, the structure will yield 18,000 square feet of office space above ground-floor retail frontage. Vintage Home, Inc. is the general contractor for the property, which sits on an interior lot between Berry Street and Wythe Avenue.
Construction and expansion work continues at PENN 2, a 31-story commercial building at Two Penn Plaza in Midtown, Manhattan. Designed by MdeAS Architects and developed by Vornado Realty Trust, the topped-out project involves the replacement of the 412-foot-tall tower’s outdated midcentury façade with a new glass curtain wall and set of light-colored metal paneling, a full gut renovation of its 1.61 million square feet of office space, new pocketed corner terraces, and a multi-story cantilevering volume along Seventh Avenue. GMSLLP is the façade consultant and Turner Construction Company and Skanska are the contractors for the property, which is located between West 31st and West 33rd Streets within the Penn District revitalization master plan.
L&L Holding Company has unveiled a pair of prominent artworks at Norman Foster‘s 425 Park Avenue office skyscraper in Midtown East. The artworks now occupy the building’s jewel box triple-height lobby and show on a digital display on the three ornamental fins that crown the structure.
The Community Lending and Investment division of Wells Fargo has reached a new milestone, $780.3 million in construction financing for affordable housing projects in New York City and Westchester County. The figure represents five loans, all closed in June 2023, the company’s largest-ever half-cycle allocation.
