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
394 Vanderbilt Avenue (Douglas Elliman)

As weather heats up, Brooklyn luxury market doesn’t

As weather heats up, Brooklyn luxury market doesn’t
The threat of eviction hangs heavily above immigrant families who have lost work as a result of the coronavirus pandemic. (Getty)

Eviction bans don’t always protect the most vulnerable

Eviction bans don’t always protect the most vulnerable
Seth Campbell (iStock)

Keller Williams to cut ties with top franchise owner following sexual harassment allegations

Keller Williams to cut ties with top franchise owner following sexual harassment allegations
Ghost Towers

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?
Manhattan homes flooded the market last week but buyers are nowhere to be found 

Manhattan homes for sale nearly doubled last week

Manhattan homes for sale nearly doubled last week
Competition for affordable housing in New York City is highest among those who need affordable housing most (Getty, iStock)

Poorest face worst odds in city’s housing lotteries

Poorest face worst odds in city’s housing lotteries
511 Macon Street and 70 Washington Street in Brooklyn (Courtesy Compass; Streeteasy)

Brooklyn’s luxury market slumped as in-person showings began

Brooklyn’s luxury market slumped as in-person showings began
Industry experts and insiders swap theories on how much of a discount New York City homebuyers should expect if they buy during the Covid-19 pandemic. (iStock)

Insiders dish on pandemic pricing for NYC homes

Insiders dish on pandemic pricing for NYC homes
arrow_forward_ios

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

Loading...