The Real Deal New York

The top 10 biggest real estate projects coming to NYC

The largest project was from Maddd Equities at 3875 Ninth Avenue in Inwood
By Eddie Small | September 05, 2018 06:15PM

A rendering of 96 New Lots Avenue in Brownsville (Credit: Procida Companies)

A Manhattan project topped the list of last month’s largest real estate projects once again, and this one is about as far north in the borough as one can get.

The Inwood project from Maddd Equities and Joy Construction at 3875 Ninth Avenue topped the list for August at about 582,000 square feet. The City Council just recently voted to rezone the neighborhood, with the goal of bringing about 5,000 new units of housing to the area.

Manhattan had just two projects on the list overall. Brooklyn had the most with five, followed by Queens with two and the Bronx with one. Other notable projects included a hotel and residential development in Flushing from Chinese developer Yihai Group and a 22-story Manhattan office building from GDS Development.

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

1) 3875 Ninth Avenue, Manhattan
The largest project filed for the city last month was up at 3875 Ninth Avenue in Inwood. The project comes from Jorge Madruga’s Maddd Equities and its frequent collaborator Joy Construction. It will span about 582,000 square feet and stand 30 stories tall with 614 residential units. The development will include roughly 66,000 square feet of commercial space as well, and 20 percent of the residential units should be affordable.

2) 76 Dinsmore Place, Brooklyn
The Department of Housing Preservation and Development filed plans for a roughly 275,000-square-foot mixed use project at this address last month, split between about 250,000 square feet of residential space, 16,000 square feet of community space and 6,000 square feet of commercial space. The building would stand 14 stories tall and contain 275 residential units.

3) 133-25 37th Avenue, Queens
This Flushing hotel and residential project comes from the Chinese developer Yihai Group. It will contain 506 units, stand 19 stories tall and span about 200,000 square feet. The units will be split between 360 hotel rooms on the second through seventh floors and 146 residential units on the higher floors. The project will also contain about 102,000 square feet of commercial space and be dubbed “Yihai Garden.”

4) 1241 Broadway, Manhattan
GDS Development is planning a 22-story, 318-foot tall office building for this vacant lot in NoMad, where it signed a 99-year ground lease earlier this year. The project will span about 141,000 square feet with retail on the ground floor. GDS hopes to break ground on the site early next year, which currently serves as a parking lot.

5) 96 New Lots Avenue, Brooklyn
Procida Companies is planning this nine-story, 118-unit building in Brownsville. The mixed-use project will span about 140,000 square feet and contain residential, commercial and community space. Perkins Eastman is designing the building. It is the second tower of a project at the site that Procida initially filed plans for back in December 2016.

6) 2016 Arthur Avenue, Bronx
This senior center from Foxy Management will stand nine stories tall and include 177 units across more than 130,000 square feet. The company hopes to break ground at the end of 2018 or the beginning of 2019. The project will stand 95 feet tall, and SLCE Architects will design it.

7) 6301 12th Avenue, Brooklyn
Barone Management purchased this former Angel Guardian home in Dyker Heights from the Sisters of Mercy for $37.5 million, and the company plans to build a mixed-use project spanning about 300,000 square feet. The portion of the project filed last month will span about 120,000 square feet with 132 condos across three stories. Overall, the project will include 150 market-rate condos, affordable rental units, senior housing and a school, and construction should start next year. The senior housing and school components should take up 60,000 square feet, and 15 percent of the residential units will be affordable.

8) 378 Flushing Avenue, Brooklyn
Riverside Developers USA filed a smaller version of their plans for a Bedford-Stuyvesant development last month, roughly two years after the local community board turned down their rezoning proposal for the site. The company now hopes to construct a seven-story, 78-unit residential building spanning about 111,000 square feet. They had previously hoped to build a 176,700-square-foot project on the site.

9) 445 Grand Avenue, Brooklyn
Developer Sheldon Stein of Ranger Properties is planning to build a 112-unit mixed-use building at this Clinton Hill address. The nine-story project will span about 108,000 square feet, split between about 80,000 square feet of residential space, 7,000 square feet of commercial space and 21,000 square feet of community space. It will replace an empty lot and feature amenities including a rooftop pool and exercise rooms.

10) 153-19 Jamaica Avenue, Queens
A joint venture between BFC Partners and the NYC Partnership Housing Development Fund is planning this 139-unit project in Downtown Jamaica. The project will stand 21 stories tall and span about 104,000 square feet, split between 99,000 square feet of residential space and 5,000 square feet of commercial space. Amenities will include a laundry room, a gym and a tenant lounge, and the building will also feature ground floor retail. The project would stand 222 feet tall and replace a two-story retail property.