New residential developments

Feb.February 26, 2010 07:48 PM


The Toren in Downtown Brooklyn
Construction update

Harlem

The Balton and Douglass Park
311 West 127th Street and 300 West 128th Street

Construction has begun at the Balton and Douglass Park, two new affordable housing developments in Harlem. The buildings will consume almost an entire city block between 127th and 128th streets and St. Nicholas Avenue and Frederick Douglass Boulevard. Combined, they will provide 226 new housing units. The Richman Group Development project, which is being built in part through funds from the Tax Credit Assistance Program and is expected to create about 1,050 construction jobs, is seeking Silver LEED certification. Contact: www.thebalton.com and www
.douglassparknyc.com.

Financing update

Downtown Brooklyn

Toren
150 Myrtle Avenue

BFC Partners’ long-awaited 38-story condominium has won its bids for both Federal Housing Administration and Fannie Mae financing and is ready for immediate occupancy. The 240-unit, Skidmore, Owings & Merrill-designed project is roughly 50 percent sold and offers studios and one-, two- and three-bedroom apartments, including eight one-bedroom penthouses and 24 two- and three-bedroom duplex penthouses. Amenities include a rooftop garden, fitness center, indoor pool, library and parking garage. Prices start in the mid-$300,000s. Halstead Property Development Marketing is the agent. Contact: www.torencondo.com.

Harlem

2280 FDB
2280 Frederick Douglass Boulevard

The 12-story development by RGS Holdings has been approved for Federal Housing Administration financing. With the newly granted FHA-backed loans, buyers will be able to purchase units at 2280 FDB with down payments ranging from 5 to 10 percent. The building is comprised of 89 one-, two- and three-bedrooms and prices range from $395,000 to $1.33 million. Halstead Property Development Marketing is the agent. Contact: www.2280fdb.com.

Williamsburg

80 Metropolitan
80 Metropolitan Avenue

Steiner NYC’s condominium been approved for Federal Housing Administration financing and is ready for immediate occupancy. The development, which is 50 percent sold, recently saw 11 units go into contract in a 60-day period. It features 114 loft residences and nine townhouse-style homes, and residents can take advantage of a pool, fitness center, rooftop terrace and 24-hour concierge. Prices for studios start at $419,000, one-bedrooms at $485,000 and two-bedrooms at $689,000. Halstead Property Development Marketing is the agent. Contact: www.80metropolitan.com.

Leasing update

Chelsea

Ohm
312 11th Avenue

Leasing has begun at the new nightclub-inspired apartment building, where Douglaston Development is marketing its 288 units toward partygoers, and reportedly receiving around one application per day. The tower is filled mostly with studios and one- and two-bedrooms, and offers some three-bedrooms as well. Amenities include a roof deck, gym, arcade and shuttle bus service to and from Penn Station. Twice a month, Ohm’s four-story lobby atrium will host bands from Knitting Factory Entertainment on its soundstage. Rents start at roughly $1,850 per month. Contact: www
.ohmny.com.

Sales update

Bedford-Stuyvesant

6one6 Willoughby
616 Willoughby Avenue

Sales have launched at the six-story, Monroe Katcher Architects-designed condominium, where 13 one-bedroom, two-bedroom and loft units are available starting at $289,000. The building has parking, storage and a roof deck and has been granted a 25-year tax abatement. Imagine Living, a division of Imagine Marketing, is the agent. Contact: www.616willoughby.com.

Williamsburg

2 Northside Piers
164 Kent Avenue

Developer Toll Brothers plans to start closings on the second of its two waterfront Williamsburg developments in September, Brownstoner reported. David Von Spreckelsen, senior vice president with Toll, said that 2 Northside Piers is currently 30 percent in contract. Asking prices for units range from $493,990 for a one-bedroom to $2.34 million for the priciest of the three-bedroom offerings. Sales began in September 2008. Contact: www.northsidepiers.com.


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