Hello Living planning 104-unit condo project in the Bronx

The property is the firm's second acquisition outside of Brooklyn

TRD New York /
Nov.November 27, 2018 05:30 PM

An aerial of 1049 Washington Avenue in the Bronx and Eli Karp (Credit: Google Maps and Hello Living)

Hello Living is continuing its expansion beyond Brooklyn, and this time it’s going condo in the Bronx.
The firm, founded by Eli Karp, is planning to build a 104-unit condominium building in the Morissania section of the Bronx, a company representative said. The site, located at 1049 Washington Avenue near the corner of East 165th Street, is currently a parking garage for petroleum products distributor Ambassador Fuel.
It would be one of the few condo projects to rise in the Bronx, where most new residential product is rentals, as The Real Deal reported last year.
Hello Living is looking to construct an 11-story story building that will span 150,300 square feet. The property is expected to have 74,900 square feet of residential space, 46,000 square feet for a community facility and 26,000 square feet of retail space. ND Architecture and Design is the architect of record for the project. The building, which will contain a mix of studios to four-bedroom units, will be renamed “Hello W” once it’s completed.
“This property is in an optimal location, in an energetic part of the South Bronx, and we look forward to becoming a part of this vibrant, diverse neighborhood,” Karp said.
Hello Living acquired the property for $11.3 million. The transaction has yet to hit public records. The seller is A&D Realty Company, which acquired the building in 1989, records show.
The deal marks Hello Living’s second acquisition outside of Brooklyn. Earlier this month, the firm bought 4650 Broadway in Inwood for $55 million. The company plans to build a 370,000-square-foot, 272-unit mixed-use development at the site.
Hello Living, which is known for luxury condo projects in Crown Heights and Prospect Park, owns 13 properties throughout Brooklyn. The firm is currently building “Hello Sutter,” a seven-story, 52-unit rental building at 2013 Sutter Avenue in Brownsville.

Related Articles

arrow_forward_ios
Ronnie Wood and his London home (Getty, Milton Stone)

Rolling Stones guitarist Ronnie Wood lists colorful London townhouse

Rolling Stones guitarist Ronnie Wood lists colorful London townhouse
Bozeman, Montana

Montana’s real estate market shows no signs of cooling heading into winter

Montana’s real estate market shows no signs of cooling heading into winter
French buyers are gobbling up prime London real estate

French buyers are gobbling up prime London real estate

French buyers are gobbling up prime London real estate
Opendoor CEO Kevin Wu, Daniel Morillo and Ken Griffin (Getty; Opendoor; LinkedIn)

Opendoor hires CIO from Ken Griffin’s Citadel

Opendoor hires CIO from Ken Griffin’s Citadel
(Getty)

Manhattan rents fall below $3,000 for first time since 2011

Manhattan rents fall below $3,000 for first time since 2011
Data on third quarter CRE investments suggests a nationwide improvement, but Manhattan has been slow to recover (iStock)

NY falls behind Dallas, LA in CRE investment as deals surge nationwide

NY falls behind Dallas, LA in CRE investment as deals surge nationwide
Existing home sales rose again in September as listed inventory sunk to a new low. (iStock)

Existing homes sales remain high, but inventory is “historically low”

Existing homes sales remain high, but inventory is “historically low”
 Jennifer Lawrence and 17 Jane Street with Edward Minskoff (Getty; Sciame Construction)

Jennifer Lawrence buys at Ed Minskoff’s West Village condo

Jennifer Lawrence buys at Ed Minskoff’s West Village condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...