New residential developments

Sales update

11-42 31st Avenue
The new four-story building has opened for sales. Development group Eleven-Forty-Two LLC built the property, which is being marketed by Prices for units in the building, which sits just half a block from the East River, range from $365,000 to $569,000.

Oculus Condominium
50 West 15th Street
All units in the 47-unit building have sold. Alchemy Properties began closing deals on the building in October 2008 and finalized sales on all the units in the beginning of September. The FX Fowle-designed building contains studios and one-, two- and three-bedrooms. Building amenities include two outdoor recreation areas, a video intercom system and a 24-hour attendant. Contact:

Beacon Towers
29 West 138th Street
More than 52 percent of the units at the eight-story co-op building are under contract. In addition to units priced at market rate, the building includes 57 income-restricted homes. This income restriction, coupled with reduced maintenance charges — costs for a one-bedroom are, on average, $518 per month — was set in place to encourage sales in the down market. The project was scheduled to begin accepting occupants this fall. Contact:

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Leasing update

Midtown West
Silver Towers
600 West 42nd Street
About 250 market-rate units at the two 60-story towers have been rented since May, and 100 of those residents have moved in. The still-under-construction project has 1,275 units, including 234 affordable units previously available through a housing lottery. Units below the 36th floor are ready for move-in. Studios start at $2,300 per month, one-bedrooms start at $3,200 and two-bedrooms are renting for $4,300. Citi Habitats is heading up leasing at the development, which is slated for completion around the beginning of 2010. Contact:


39 Hegeman Avenue
The New York State Housing Finance Agency granted $30.75 million in financing for the affordable housing project, which will include 161 units. The development will set aside 100 units for the formerly homeless who have HIV/AIDS or mental illness.

East New York
332-340 Snediker Avenue
The HFA approved a $26.26 million loan for the affordable housing development. The building will contain 119 units, with 49 of those reserved for veterans with special needs. The Housing Finance Agency and the Affordable Housing Corporation last month approved $181.6 million in financing to build or maintain 2,060 units of affordable housing throughout the state.