The Real Deal New York

The top 10 biggest real estate projects coming to NYC

An East Harlem development from Jonathan Rose and L+M topped the list
By Eddie Small | July 05, 2018 08:00AM

Clockwise from top left: 1681 Madison Avenue, 144-25 Sanford Avenue in Queens, 1331 Jerome Avenue in the Bronx (Credit: CityRealty and Google Maps)

Manhattan only had one project among the top 10 largest filed last month, but it was the biggest by an extremely wide margin.

Jonathan Rose Companies’ and L+M Development Partners’ mixed-use building in East Harlem was the biggest project for which plans were filed in June — by almost 200,000 square feet. The development at 1681 Madison Avenue will span about 346,000 square feet and is part of the companies’ even larger Sendero Verde project.

Brooklyn and Queens dominated June’s list overall with four projects each, while the Bronx had one, and Staten Island had none. Other notable developments include one of the first projects on its way to the Bronx under the Jerome Avenue rezoning and another Long Island City hotel from developer Dun Zhang.

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

1. 1681 Madison Avenue, Manhattan
The largest project with plans filed in June was also the only project filed in Manhattan: a joint venture from Jonathan Rose Companies and L+M Development Partners at 1681 Madison Avenue in East Harlem, part of their massive Sendero Verde project. The 37-story building will contain 384 residential units and span roughly 346,000 square feet, split between about 318,000 square feet of residential space and 28,000 square feet of commercial space. The city chose Jonathan Rose and L+M in February to develop Sendero Verde, a mixed-use project that will span 751,000 square feet overall.

2. 1331 Jerome Avenue, Bronx
Developer Peter Fine is planning a 255-unit residential building at 1331 Jerome Avenue in the Bronx that will stand 15 stories tall. It will span roughly 186,000 square feet, divided between about 98,000 square feet of residential space, 69,000 square feet of community space and 19,000 square feet of commercial space. The lot itself spans 25,000 square feet, and Fine purchased it in May for $11.1 million, the first transaction in the area after the City Council voted to rezone it.

3. 144-25 Sanford Avenue, Queens
Rong Xin Sanford Realty is planning a mixed-use building on this site in Flushing that will stand eight stories tall with 131 units. It will span about 113,000 square feet overall, split between 93,000 square feet of residential space and roughly 20,000 square feet of commercial space. The building will stand 85 feet tall, and Angelo Ng & Anthony Ng Architects is designing it. Investor Xin Xiang Lin bought the site in May for $27 million from the Mormon church. It contains 84,000 buildable square feet.

4. 70-40 45th Avenue, Queens
Developer Henry Lam is planning to build a roughly 101,000-square-foot project at 70-40 45th Avenue in Elmhurst. It would contain 90 residential units and stand 10 stories tall. Lam previously filed plans for a slightly larger building at the same address in 2016 that would have spanned closer to 110,000 square feet, and this new filing was meant to supersede his previous expired application.

5. 37-10 10th Street, Queens
Another hotel planned for Long Island City rounded out the top five projects in June. Developer Dun Zhang is planning a 15-story, 385-key project at 37-10 10th Street that will span roughly 100,000 square feet. It will replace a one-story industrial building, and prolific hotel architect Gene Kaufman will design it.

6. 2708 Snyder Avenue, Brooklyn
Brooklyn’s first appearance on the list came thanks to developer Anshel Friedman’s project in Flatbush. It will span about 93,000 square feet and include 105 units. The project will include 71,800 square feet of residential space, 13,500 square feet of community space and 7,800 square feet of commercial space.

7. 91-09 Roosevelt Avenue, Queens
Developer Mehran Cohen refiled plans for a seven-story, 150-unit building in Jackson Heights last month that would span 91,500 square feet. Cohen would split the project between more than 59,000 square feet of residential space, 15,000 square feet of commercial space and about 17,000 square feet for a community facility. He filed these plans one month after the Department of Buildings rejected a smaller version of the mixed-use project. Cohen bought the site in 2016 for $12 million, and his project would replace a gas station.

8. 834 Pacific Street, Brooklyn
Happy Living Development is planning to convert the Prospect Heights rectory at 834 Pacific Street into a five-story, mixed-use building with 88 apartments. The project would span about 90,000 square feet, split between 69,000 square feet of residential space and 20,000 square feet of community space. It will have a doctor’s office in the basement and feature amenities including a gym and storage space.

9. 1057 President Street, Brooklyn
This eight-story Crown Heights project will span about 82,000 square feet. It will be the second rental building at the city’s and BFC Partners’ controversial Bedford-Union Armory in Crown Heights and contain 60 affordable units, a community inpatient treatment facility on the first and second floors and parking for 36 bicycles, according to Brownstoner. Marvel Architects will design the building.

10. 3801 Fort Hamilton Parkway, Brooklyn
The final project in June’s top 10 was a roughly 56,000-square-foot school in Borough Park. The project from Yehuda Deutsch will stand five stories tall, and Studio Gallos will design it. It will include 35 classrooms, a library, outdoor play spaces, a cafeteria and a midrash prayer room, according to YIMBY.