The Real Deal New York

The top 10 biggest real estate projects coming to NYC

A 17-story affordable housing development in the Bronx topped the list
By Eddie Small | June 05, 2018 07:00AM

A mixed-use affordable housing development in the Bronx was the largest project filed with the city in May.

Jorge Madruga’s Maddd Equities is planning a roughly 274,000-square-foot development at 1164 River Avenue. The 17-story building will contain 250 affordable housing units and is part of a 750-unit complex the company is planning across two buildings on River Avenue.

Other large projects filed in May include a 201-unit residential project on the Greenpoint waterfront, a new hotel from Sam Chang in Long Island City and a 129-unit residential project from HAP Investments in Washington Heights. The list was split between four Brooklyn projects, three Bronx projects, two Manhattan projects and one Queens project.

The full list of May’s top 10 biggest real estate projects is below:

1) 1164 River Avenue, Bronx
Long Island-based Maddd Equities’ roughly 274,000-square-foot development at 1164 River Avenue in the South Bronx topped the list. The building will stand 17 stories tall and include 250 rental units and about 88,000 square feet of commercial space. Maddd Equities is partnering with the affordable housing nonprofit Community Access on the project. The site is located in the Cromwell-Jerome area, which the City Council voted to rezone earlier this year.

2) 45 Java Street, Brooklyn
Stiles Properties’ planned project at 45 Java Street on the Greenpoint waterfront took the No. 2 spot. The residential building will span about 216,000 square feet and contain 201 units across six stories. The developer declined to comment on whether the property will contain condo or rental units or a combination of the two. No plans have been filed with the AG’s office so far. Architecture firm Skidmore, Owings & Merrill will design the building.

3) 7 Boerum Place, Brooklyn
Avery Hall Investments filed plans for a roughly 204,000-square-foot condo building in Downtown Brooklyn that will stand 21 stories tall and include 122 units. Avery Hall bought the site with Allergra Holdings and Aria Development Group for $76.5 million from Brooklyn Law School in 2016. They purchased about 50,000 square feet of air rights as well for $16 million.

4) 559 Park Avenue, Brooklyn
The city’s Department of Sanitation is planning a new three-story building at 559 Park Avenue in Bedford-Stuyvesant that will span about 135,000 square feet. The project will include offices, training rooms, locker rooms and space for vehicle repair and storage, according to New York YIMBY. It will include 75 parking spots, and Dattner Architects will design it.

5) 980 Westchester Avenue, Bronx
Developer Peter Fine filed plans for a seven-story mixed-use building at 980 Westchester Avenue in Longwood spanning about 125,000 square feet. It will include 151 residential units, along with commercial and community space. The commercial portion of the building will house a fresh food grocery store, and amenities will include an outdoor terrace, a lounge and bicycle storage, according to YIMBY. GF55 Partners will design the building.

6) 38-39 9th Street, Queens
Sam Chang’s proposed 324-key hotel in Long Island City took the No. 6 spot on May’s list. The developer’s McSam Hotel Group filed plans last month for a 13-story building spanning about 112,000 square feet and standing 129 feet tall. Chang bought the site in 2003 for $1.3 million and is planning another 142-key hotel nearby at 38-04 11th Street.

7) 4452 Broadway, Manhattan
Eran Polack’s HAP Investments is planning a roughly 88,000-square-foot project at 4452 Broadway in Washington Heights. Fischer + Makooi Architects is designing the mixed-use development, which will stand seven stories and feature 129 residential units.

8) 510 Driggs Avenue, Brooklyn
Hampshire Properties filed plans for a six-story building in Williamsburg at 510 Driggs Avenue spanning about 67,000 square feet. The project would contain 44 units and be split between about 54,000 square feet of residential space and about 13,000 square feet of commercial space. It will replace a parking lot, and Woods Bagot will design the building.

9) 976 Woodycrest Avenue, Bronx
Bronx developer Kim Tasher is planning a 101-unit residential building at 976 Woodycrest Avenue in Highbridge. The project would span slightly more than 65,000 square feet. Tasher’s SKF Development bought the site for $2.1 million in December 2017. His project will replace a two-story home.

10) 1045 Madison Avenue, Manhattan
Naftali Group’s plans for an 18-story condo building on the Upper East Side rounded out May’s list. The project will contain 16 units and span about 63,000 square feet. It is part of an assemblage Naftali is putting together across four adjacent sites on Madison Avenue. The developer has closed on all the sites except 1043 Madison Avenue.