Below-grade work is progressing at 241 West 28th Street, a 22-story, 479-unit residential project in Chelsea. Designed by COOKFOX for MAG Partners, Atalaya, Safanad, and Qualitas, the two-tower development recently acquired $173 million in construction financing arranged by Maverick Commercial Properties. MAG Partners acquired the Midtown, Manhattan property in December 2018 and established a 99-year ground lease with Edison Properties. 241 West 28th Street is located between Seventh and Eighth Avenues and will have 30 percent of residential units reserved for low- and middle-income households. Urban Atelier Group is the general contractor.
The Department of City Planning is now reviewing Environmental Impact Statements for a six-building expansion of Stevenson Commons in the Soundview section of The Bronx. Owned by Camber Property Group, the development site is located at White Plains Road and 1850 Lafayette Avenue and currently comprises nine Mitchell-Lama buildings spanning 990,050 square feet.
A rare waterfront development site recently entered the market in the Stapleton section of Staten Island. The site comprises a 72,000-square-foot lot at 385 Bay Street and an 88,265-square-foot lot at 425 Bay Street. The entire site spans 3.67 acres and is zoned for both residential and commercial use.
This week, developers celebrated the completion of two new affordable housing properties within the sprawling La Central residential complex in Melrose, The Bronx. Located at 556 and 600 Bergen Avenue, buildings A and B comprise nearly 500 income-restricted units, a new YMCA, a production studio for BronxNet, a rooftop farm operated by GrowNYC, and a mix of retail businesses.
Kossar’s Bagels & Bialys is opening a second retail location in Manhattan on the ground floor of Ohm, a 34-story mixed-use building at 312 Eleventh Avenue in Hudson Yards.