The Beitel Group has secured a $150 million loan for the development of 120 East 144th Street, a new residential project in Mott Haven, The Bronx. The funding, which was supplied by SCALE Lending, will support the construction of the 13-story, 450-unit property.
Construction is wrapping up on 266 West 96th Street, a 23-story residential building on Manhattan’s Upper West Side. Designed by SLCE Architects and developed by Fetner Properties, the 235-foot-tall structure yields 171 rental units with 68 dedicated to affordable housing, as well as 8,961 square feet of community facility space. Urban Atelier Group is the general contractor for the property, which is located on an interior lot between West End Avenue and Broadway.
Demolition work is moving along at 1448 Third Avenue, the site of an upcoming 39-story residential tower in the Yorkville section of Manhattan’s Upper East Side. Designed by CetraRuddy Architecture and developed by Douglaston Development under the 170 E 83 Owner, LLC, the 478-foot-tall structure will span 287,632 square feet and yield 125 units with an average scope of 1,804 square feet, as well as 40,864 square feet of commercial space and 21,224 square feet of community facility space. There will also be a cellar level and a 20-foot-long rear yard. Levine Builders is the general contractor for the property, which is alternately addressed as 170 East 83rd Street and bound by Third Avenue to the east, East 82nd Street to the south, and East 83rd Street to the north. Only the southern half of the building will be demolished.
Mayor Eric Adams has announced a new initiative within the “City of Yes for Housing Opportunity” proposal that seeks to generate tens of thousands of affordable homes in New York City. The new initiative is targeting areas previously out of reach for many working-class New Yorkers due to an outdated floor-to-area-ratio cap, which historically has restricted the construction of new homes in high-demand zones. The proposal is seeking to lift the floor-to-area-ratio cap in these areas, such as in Midtown, Manhattan.
New renderings have been revealed for Gowanus Green, a six-building mixed-use complex in Gowanus, Brooklyn. Designed by Marvel Architects and developed by The Hudson Companies, Jonathan Rose Companies, The Bluestone Organization, and Fifth Avenue Committee, the four-acre master plan will yield 990,000 square feet across six buildings with 950 affordable homes, retail and community space, an 80,000-square-foot public grade school, and a new waterfront esplanade. SCAPE is the landscape architect for the project, which is bound by 5th Street to the northeast, Smith Street to the northwest, the Gowanus Canal to the southeast, and a vacant plot at 459 Smith Street to the southwest.
