Community board committees favor Carlyle’s plan for Riverside apartments

TRD New York /
Aug.August 23, 2012 06:00 PM

The first of five buildings of the Riverside Center development will have both affordable and market-rate housing atop a four-story school. DNAinfo reported that Carlyle Realty Partners’ plan for the tower was approved this week by three committees of Community Board 7 and needs only a full CB7 vote, scheduled for September, before it can begin construction.

If approved, construction on this building — known as Building 2 — will begin in November.

The building will house a total of 616 units, one-fifth of which will be affordable with costs ranging from $529 for a studio to $1,009 for a three-bedroom apartment. To qualify, families need to earn between 40 and 50 percent of the city’s annual median income, falling well within the 80 percent requirement agreed upon earlier. The four-story elementary or junior high school, reportedly the first new school on the Upper West Side in decades, will comprise 100,000 square feet.

Carlyle is developing the 2,500-unit residential project with Extell Development — they both expect to fetch $30 million from Building 2. Earlier this year they had looked to sell the first two towers to put the onus of affordable building on another party. DNAinfo said Dermot Realty Management also had a stake in this project.

As previously reported, the five-building complex is also slated to include a cinema, office space and parking. The project runs from 59th to 61st Streets And From Riverside Boulevard to the West Side Highway. [DNAinfo] — Zachary Kussin


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Gary Barnett and 1855 Broadway (Credit: Google Maps)

Gary Barnett assembling Columbus Circle development site

Extell Development chairman Gary Barnett and One Manhattan Square (Credit: Anuja Shakya, StreetEasy)

Rent now, buy later at Extell’s One Manhattan Square

José Cuervo owner Juan Beckmann Vidal and 1010 Park Avenue (Credit: Getty Images, StreetEasy)

Mexican billionaire buys Park Ave pad for $25M amid shopping spree

From left: 241 East 73rd Street, 1514-1528 First Avenue, and Extell Development's Gary Barnett (Credit: Google Maps)

Here’s what the $10M–$20M NYC investment sales market looked like last week

235 West 48th Street and Carlyle Group managing director Jason Hart (Credit: Google Maps and Carlyle Group)

Carlyle takes majority stake in Ritz Plaza rental building for $251M

Neighbors sue to block Extell’s UWS tower after city OKs amended plans

WATCH: Gary Barnett on the residential market, Brooklyn and discounts at
One Manhattan Square

arrow_forward_ios