NYC real estate in brief

June 10, 2009 11:37AM

Units at 700 Grove offering homeowner loans with 3.5 percent down
Toll Brothers City Living announced that buyers can purchase homes at 700 Grove, a 12-story, 230-unit condominium in Jersey City, for just 3.5 percent down, which amounts to a down payment of just $17,500, through new Federal Housing Administration qualified loans. First-time homebuyers may also be able to apply the $8,000 first-time homebuyer tax credit towards the purchase cost. Prices for units in the building start in the high $400,000s. Construction at 700 Grove was completed in fall 2008 and the development is over 85 percent sold.

Beautification of 10 Downing to be revealed June 25
Stonehenge Partners and the Soho Partnership will unveil a new green public space at 10 Downing Street in the West Village on June 25. The project, which has been in the works since September 2005 when Stonehenge acquired the building, will include the installation of 15 newly designed black iron tree guards and the planting of 500 Flowers Along The Sixth Avenue walkway. Following the opening of High Line Park and the Times Square pedestrian mall project, “the 10 Downing beautification project is our initiative to participate in New York City’s transformation into greener, more pedestrian-friendly public spaces,” said Ofer Yardeni, managing partner at Stonehenge.

New seniors-only affordable housing opens in Staten Island

Park Lane at Sea View, an affordable seniors-only development, opened as part of Mayor Michael Bloomberg’s Five Borough Economic Opportunity Plan. The building, located on the 70-acre campus of Sea View Hospital and Rehabilitation Center and Home, has 104 mixed-income units for seniors. Rent ranges from $807 for a studio, $864 to $1,330 for a one-bedroom unit, and $1,036 to $1,590 for a two-bedroom apartment. Fifty percent of the units at Park Lane are reserved for residents making less than 60 percent of the Department of Housing and Urban Development income limits. The Spanish Mission-style buildings were developed jointly by the Domain Companies, the Arker Companies and the Metropolitan Council on Jewish Poverty.

Greiner-Maltz moves into New Jersey market

Greiner-Maltz Realty, which specializes in commercial, industrial and retail real estate, has opened up a new office at 250 Moonachie Road in Moonachie, N.J. The company’s New Jersey office will be headed by 35-year veteran principal and managing partner, Raymond Musalo and will cover the counties of Bergen, Essex, Hudson, Middlesex, Monmouth, Passaic, and Union. The brokerage already has offices in Long Island City and Long Island. TRD