Delancey Street Associates has closed a deal for funding the construction of 180 Broome Street, on the Lower East Side. The capital comes from Wells Fargo and M&T Bank, along with equity from DSA and Goldman Sachs Urban Investment Group. The loan secures $200 Million out of the projected total construction cost of $300 million. Essex Crossing is being developed by Delancey Street Associates, which is comprised of BFC Partners, L+M Development Partners, Taconic Investment Partners, and Goldman Sachs.
Today, YIMBY has a photo update on the site of the Dime Savings Bank of Williamsburgh. Foundation work is moving along for the soon-to-be 22-story residential building that will rise adjacent to the historic structure, in Williamsburg, Brooklyn.
The blocks of Hudson Yards are the current hotspot for office construction in New York City, with supertall after supertall rising from nothing. But Midtown East might be the only location in Manhattan where major office projects are rising alongside existing fabric. While One Vanderbilt is only beginning to rise above 42nd Street, work is substantially further along at 425 Park Avenue, where Norman Foster’s vision is now climbing past the stump remaining from the site’s former occupant.
The Landmarks Preservation Commission has approved a revised design by Todd Zwigard Architects for the Hamilton Theater, at 3560 Broadway, in Harlem. YIMBY first saw renderings for the project on Halloween of this year. The site will be repurposed for commercial-retail and office space within the neo-Renaissance theater, with the hope of revitalizing its prominence in the neighborhood.
SHoP Architects has submitted applications for a major new project at 1508 Coney Island Avenue, in Midwood, Brooklyn. The 10-story mixed-use high-rise will be situated on the major commercial thoroughfare of the area. Eight blocks away is the Avenue M Subway Station, serviced by the Q trains. It should be noted that the project is not close the Coney Island beach boardwalk, which is over four miles away.