New residential developments

Leasing update


1926 Crotona Parkway

The 62-and-older section of the affordable rental development opened recently. Two-bedroom units are available for $823 per month at the Atlantic Development Group and Highbridge Community Development Organization project. The development will include a landscaped backyard and a common area.

Greenwood Heights

639 Fourth Avenue

The 44-unit building is 75 percent occupied after converting from a condominium to a rental, the New York Post reported. Rents begin at $2,250 for a one-bedroom. Amenities include parking and glass balconies and floor-to-ceiling windows in all units. Contact:

Staten Island

Park Lane at Sea View

460 Brielle Avenue

Park Lane at Sea View, the first affordable rental development for seniors on Staten Island, opened in early June. The Arker Companies, the Domain Companies and the Metropolitan Council on Jewish Poverty developed the 104-unit building. Fifty-one of the building’s apartments will be reserved for people with low to moderate incomes, with rents ranging between $744 for a studio and $957 for a two-bedroom, the Staten Island Advance reported. Rents for the remaining 52 apartments, open to seniors with higher incomes, will range from $1,330 to $1,590.

Construction update


552 Lafayette

552 Lafayette Street

Developer KTR Construction’s 15-unit building was slated to open in mid-June. The building’s exterior was designed by Karl Fischer and Associates. The building includes one-bedroom apartments averaging approximately 650 square feet and two-bedroom units that are around 768 square feet. Prices range from $315,000 to $435,000. Amenities include a common roof deck, parking for purchase and pending FHA approval that would allow buyers to pay down payments as low as $11,000. is the exclusive sales and marketing agent. Contact:

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120 Eleventh Avenue

The former Life Savers Mints factory, which has also housed Spike Bar and artists’ and photographers’ lofts, has been converted to a condominium. The building, developed by Gianfranco Chicco and Robert Chandler of Puissance Enterprises, contains five loft and two penthouse apartments. Prices range from $4.2 million to $17 million. Prudential Douglas Elliman is the exclusive sales and marketing agent. Contact:

Downtown Brooklyn

The Brooklyner

111 Lawrence Street

The Clarett Group’s 51-story tower, the tallest building in Brooklyn, topped off in early June. The 491-unit rental building was designed by Gerner Kronick and Valcarcel Architects and includes studio through two-bedroom apartments. Amenities include a 24-hour concierge service. Occupancy is expected to begin in late 2009 or early 2010.

Greenwood Heights

574 Fourth Avenue

The Henry Radusky-designed building has reached its full height, Brownstoner reported. The 12-story building contains 80 units.

Sales update

Lower Manhattan

75 Wall Street

A rent-to-own option is now available at the Hakimian Organization, Peykar Brothers Realty and Gorjian Properties-developed building. The first full year of rent can go toward the purchase price of the unit. The building’s 349 units range from studios to three-bedrooms. Prices for available units range from $625,000 to $7.75 million, according to Corcoran Sunshine Marketing Group is the exclusive sales and marketing agent. Contact:

Park Slope

500 Fourth Avenue

About 15 percent of units had sold as of early June at the 156-unit Isaac Katan development. Prices start at $342,000 for a 539-square-foot studio, the New York Post reported. A 3,000-square-foot unit in the building is on the market for $1.426 million. Buyers who purchase before the end of July will receive a 10 percent discount. Completion is expected in the fall.

Compiled by Sara Polsky