A new 181-unit luxury rental building with a retail component will rise on Broadway and 77th Street thanks to a recently closed $125 million loan funded by the issuance of bonds provided by the New York State Housing Finance Agency, GlobeSt.com reported.

The building, slated to be called the Larstrand, will be developed by Friedland Properties and its representative Rose Associates. CVS has already agreed to lease part of the retail space.

Thirty-seven of the units at the Larstrand will be designated as affordable. [more]

A proposed 161-unit affordable housing development, slated for construction in Brooklyn’s Brownsville neighborhood, has received $30.75 million in state-granted funds. The funding is part of a $181.6 million financing package that the New York State Affordable Housing Corporation and the New York State Housing Finance Agency approved this week. The Brownsville building at 39 Hegeman Avenue will set aside 100 apartments for formerly homeless residents who have been diagnosed with HIV/AIDs or mental illnesses. [more]

L+M Development Partners’ new affordable
housing complex in Brownsville will celebrate its opening with a ribbon cutting today. Also, Coldwell
Banker Real Estate launched an interactive billboard in Times Square
that displays home listings. And at the Rialto condo in Williamsburg, buyers now only have to
put 10 percent down. Click here for the full version. TRD [more]