Residential



1026 Third Avenue Nears Topping Out on Manhattan’s Upper East Side

Construction is nearing topping out on 1026 Third Avenue, a 24-story residential building in the Lenox Hill section of Manhattan’s Upper East Side. Designed by Ismael Leyva Architects and developed by Kahen Properties, which purchased the assemblage of three adjacent properties for $34 million in July 2022, the 273-foot-tall structure will span 100,000 square feet and yield 81 rental units with an average scope of 1,200 square feet, as well as ground-floor retail space, a fitness center, and a top-floor banquet space. Third North Holdings LLC is listed the owner of the property, which is located between East 60th and East 61st Streets.

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Rendering of 959 Sterling Place. Designed by Morris Adjmi Architects

Developers Secure $69 Million Bridge Loan for Mason Gray At 959 Sterling Place In Crown Heights, Brooklyn

Invictus Real Estate Partners, a New York-based vertically integrated real estate private equity company, has announced the closing of a $69 million pre-TCO bridge loan for the Mason Gray, a residential property at 959 Sterling Place in Crown Heights, Brooklyn. The loan will support the completion of minor construction work on the seven-story building, allowing leasing to begin. Walker & Dunlop’s Mike Diaz and Aaron Appel arranged the financing for the project, which was developed by Hope Street Capital.

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