Search Results for: planned residential development

Naftali Group’s new limestone condo tower at 800 Fifth Ave gets approved

All images courtesy of Naftali Group / Robert A.M. Stern Architects unless otherwise noted

November 25, 2025

Naftali Group’s new limestone condo tower at 800 Fifth Ave gets approved

Naftali Group's plan to demolish an existing Upper East Side residential building and replace it with a new condominium tower was approved by the Landmarks Preservation Commission on Tuesday. Designed by Ulrich Franzen in the 1970s, the existing post-modern building at 800 Fifth Avenue has about 200 rental units. Naftali, which acquired the building over the summer for $810 million, has tapped Robert A.M. Stern Architects (RAMSA) and SLCE to design a new limestone-clad tower with 55 condos and stunning Central Park views.
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2,500 new homes proposed for New York Wheel site on Staten Island

All renderings courtesy of FXCollaborative

November 24, 2025

2,500 new homes proposed for New York Wheel site on Staten Island

By Aaron Ginsburg

Up to 2,500 new homes could come to Staten Island’s North Shore under a new city plan to finally reimagine the long-vacant New York Wheel site. Last week, the city's Economic Development Corporation revealed a plan to transform two sites in St. George, the Empire Outlets retail complex and the former site of a planned Ferris Wheel, into a mixed-use waterfront neighborhood with thousands of apartments, open space, retail, and community amenities. The plan would mark the long-awaited next chapter for the property, once slated to host the world’s tallest Ferris wheel before the project was scrapped in 2018.
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November 17, 2025

Extell to buy $36M in air rights from Midtown’s St. Thomas church

By Aaron Ginsburg

Extell Development has bought $36 million in air rights from a historic Midtown church as it continues to assemble large development sites across the neighborhood. According to Crain's, the developer has entered into a contract to acquire 123,000 square feet of air rights from the landmarked St. Thomas Church at 678 Fifth Avenue. It’s unclear which project Extell plans to use the rights for, but the firm is working on several nearby projects, including the former Wellington Hotel site and 655 Madison Avenue.
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Real Estate Trends

November 7, 2025

230-unit housing project coming to site of abandoned Astoria megaproject

By Aaron Ginsburg

A site in Astoria once slated for a 3,200-unit development will now be home to a handful of residential buildings with just over 230 apartments. As first reported by Crain's, the Hakimian Organization and CW Realty have filed plans for a 16-story building at 35-17 42nd Street and a 13-story building at 42-08 35th Avenue, on the former site of the $2 billion Innovation QNS megaproject. The ambitious housing project was scrapped in September amid financing challenges following the expiration of the 421-a tax break and uncertainty surrounding its replacement, the 485x program.
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NYC Council approves Jamaica rezoning, paving the way for 12,000 new homes

All images courtesy of DCP

October 31, 2025

NYC Council approves Jamaica rezoning, paving the way for 12,000 new homes

By Aaron Ginsburg

Nearly 12,000 new homes are coming to Jamaica, Queens, following the City Council’s approval of the neighborhood’s transformative rezoning on Wednesday. The Jamaica Neighborhood Plan updates zoning rules across 230 blocks of the transit-rich area, paving the way for thousands of new homes—roughly 4,000 of which would be permanently affordable. The plan, which includes the largest mapping of Mandatory Inclusionary Housing (MIH) in the city, will also add two million square feet of commercial space, create more than 7,000 jobs, and deliver $400 million in infrastructure upgrades.
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Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

Hotel Wellington. Photo by Jazz Guy via WikiCommons

October 24, 2025

Extell proposes 71-story mixed-use tower with 130 apartments at Wellington Hotel site

By Aaron Ginsburg

Extell Development wants to nearly triple the height of its proposed tower at the site of Midtown's former Wellington Hotel and make it residential. As first spotted by Crain's, Gary Barnett's firm filed plans with the Department of City Planning this month seeking to expand its project at 871 7th Avenue from a 27-story hotel to a 71-story mixed-use tower with 130 residential units, likely condos, and 156 hotel rooms. Extell is pitching upgrades to the nearby 50th Street subway station in exchange for a zoning bonus to allow for the 1,050-foot-tall tower.
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Pacific Park gets new developers and $12M for affordable housing

Barclays Center & Pacific Park in 2020. Photo by CityLimitsJunction via WikiCommons

October 9, 2025

Pacific Park gets new developers and $12M for affordable housing

By Aaron Ginsburg

Pacific Park, Brooklyn’s years-long stalled megadevelopment, could finally move forward after securing new funding and a fresh development team. This week, Cirrus Real Estate and LCOR acquired the development rights to six Brooklyn rail yard sites at a foreclosure auction, after Greenland USA, the project’s former developer, defaulted on nearly $350 million in loans, as first reported by The Real Deal. The new developers have also contributed $12 million to an affordable housing fund, compensating for penalties that were not enforced against Greenland USA for failing to complete 876 affordable apartments by May 2025. The move represents a significant step forward for the project, which was launched more than two decades ago.
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Latest Midtown office conversion to bring nearly 450 apartments near Bryant Park

Photo by Jim.henderson on Wikimedia

October 7, 2025

Latest Midtown office conversion to bring nearly 450 apartments near Bryant Park

By Devin Gannon

Midtown's office-to-residential conversion boom continues. Developer Vanbarton Group announced last week it had acquired the building at 6 East 43rd Street after securing a $300 million loan from Brookfield. Vanbarton plans to convert the 27-story tower, known as the Emigrant Savings Bank building, into 441 apartments, including 111 affordable units.
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31-story Downtown Brooklyn rental tower opens lottery for 120 apartments, from $784/month

Credit: NYC Department of Housing Preservation and Development

August 13, 2025

31-story Downtown Brooklyn rental tower opens lottery for 120 apartments, from $784/month

By Aaron Ginsburg

Applications are now being accepted for 120 mixed-income apartments at a new 31-story rental tower in Downtown Brooklyn. Located at 202 Tillary Street, the property offers modern apartments with panoramic skyline views, complemented by a suite of upscale amenities. New Yorkers earning 40, 60, 110, and 120 percent of the area median income can apply for the units, with rents starting at $784/month for studios, $828/month for one-bedrooms, and $967/month for two-bedroom apartments.
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Affordable Housing

Flatiron Building will be illuminated at night for the first time as part of condo conversion

On left: Photo by Artem Zhukov on Unsplash. On right: Rendering courtesy of The Flatiron Building

August 6, 2025

Flatiron Building will be illuminated at night for the first time as part of condo conversion

By Aaron Ginsburg

After over 120 years as a commercial building, the Flatiron Building will shine brightly as a new condo development. Literally. The distinct triangular building at 175 Fifth Avenue will be illuminated for the first time in its history when it reopens as luxury apartments. As first reported by the New York Post, the LED lighting scheme, designed by L’Observatoire International and approved by the city's Landmarks Preservation Commission, will be most prominent on the top five floors beneath the building’s signature cornice, then cascade downward to emphasize its architectural details, which have been restored as part of a multi-year renovation.
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The rise of the next Williamsburg: How Gowanus went from eyesore to eye-popping prices

Photo by LogicalRailfan on Wikimedia

August 5, 2025

The rise of the next Williamsburg: How Gowanus went from eyesore to eye-popping prices

By Dana Schulz

It’s been 20 years since The New York Times reported that city officials voted "to let developers turn the decaying north Brooklyn waterfront, with its relics of Brooklyn's industrial past, into a neighborhood of residential towers with a parklike esplanade along the East River." In the two decades since, this version of Williamsburg was replaced by the first generation of "hipsters," glassy condo towers with Manhattan views, and throngs of Manhattanites crowding the L train to hit up Union Pool and Maison Premiere. Now, a new rezoning is putting another Brooklyn neighborhood on the same path. This time, the waterfront is the once-toxic Superfund-designated Gowanus Canal.
there goes gowanus?

Developer wants to build huge South Bronx project with more than 1,100 affordable apartments

Credit: Aufgang Architects

July 23, 2025

Developer wants to build huge South Bronx project with more than 1,100 affordable apartments

By Aaron Ginsburg

The developer behind the redevelopment of the historic Kingsbridge Armory and other major Bronx projects wants to rezone a large site in the borough to allow for a pair of mixed-use towers with over 1,000 affordable apartments. Last week, William Bollinger, a development consultant with Maddd Equities, filed a rezoning application with the Department of City Planning (DCP) for 1014 Brook Avenue in Morrisania. The 1.2 million-square-foot project includes 1,128 affordable units across 22- and 26-story towers. As first reported by Crain's, the rezoning would permit both residential and manufacturing uses, as the site currently allows manufacturing only.
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July 9, 2025

The 8 casino proposals competing for a downstate New York gaming license

By Aaron Ginsburg

Since New York approved three downstate casino licenses in 2023, some of the city's top developers have rushed to unveil grand proposals. Backed by billion-dollar budgets and celebrity partners, many of these bids have added affordable housing, transit upgrades, and public green space to help them stand out. Ahead, find an overview of the eight projects vying for one of the licenses, which will be awarded by the state by the end of the year.
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Policy

June 3, 2025

Brooklyn Heights’ iconic Hotel Bossert sells for $100M, to become apartments

By Aaron Ginsburg

A historic Brooklyn Heights hotel once dubbed the "Waldorf-Astoria of Brooklyn" has sold for $100 million, with plans to convert the storied property into residences. The iconic Hotel Bossert, located at 98 Montague Street, was acquired by real estate investment and development firm SomeraRoad, according to city records registered Wednesday and first reported by Crain's. In a statement to the Brooklyn Daily Eagle, the firm said it "plans to honor the property’s rich history and to restore and reopen the building as residences."
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Real Estate Trends

Related drops casino from Hudson Yards plan, but keeps proposal for 4,000 new homes

Renderings courtesy of Related Companies and Wynn Resorts

May 20, 2025

Related drops casino from Hudson Yards plan, but keeps proposal for 4,000 new homes

By Aaron Ginsburg

Related Companies is dropping the casino from its project proposed for the undeveloped section of Hudson Yards, the developer announced Monday. In partnership with Wynn Resorts, Related previously pitched a $12 billion mixed-use development anchored by a casino, dubbed "Hudson Yards West," as part of its bid for one of the state's three downstate gaming licenses. Due to opposition from the community and local elected officials, Related and Wynn announced they would no longer pursue a gaming license. However, the developer plans to move forward with a plan to build 4,000 apartments, nearly 50 percent of which will be affordable under a tentative agreement with the Adams administration.
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Policy

Vacant parking lot in Harlem to become 75 apartments

Credit: Haussmann Development

May 14, 2025

Vacant parking lot in Harlem to become 75 apartments

By Aaron Ginsburg

A vacant parking lot in Harlem will soon become a residential building. Haussmann Development on Monday announced it closed on a land purchase at 16–20 Convent Avenue for $7.5 million. Haussmann plans to build a 10-story residential building with 75 one- and two-bedroom apartments, including 15 affordable units for households earning 60 percent of the area median income.
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Affordable Housing

Proposed Freedom Plaza casino complex next to U.N. reveals waterfront public park

Renderings courtesy of OJB Landscape Architecture

March 21, 2025

Proposed Freedom Plaza casino complex next to U.N. reveals waterfront public park

By Aaron Ginsburg

Newly released renderings offer a closer look at a public waterfront park planned alongside a proposed casino complex near the United Nations. Unveiled on Thursday, the new video and imagery showcase the nearly 5-acre public park planned as part of Soloviev Group's proposed Freedom Plaza casino project. Designed by OJB Landscape Architects, the green space would feature an 18,000-square-foot central lawn, 1.2 miles of accessible pathways, a children's play area, an amphitheater, scenic overlooks, and more.
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NYC’s plan to rezone Jamaica calls for 12,000 new homes

Jamaica Avenue and 165th Street. All images courtesy of DCP

March 20, 2025

NYC’s plan to rezone Jamaica calls for 12,000 new homes

By Aaron Ginsburg

New York City is moving forward with a new rezoning initiative that could bring more than 12,000 new homes to downtown Jamaica, Queens. On Thursday, the Department of City Planning (DCP) began the approval process for the plan, which looks to rezone about 300 blocks in the neighborhood to allow for thousands of new homes, including 4,000 units that would be income-restricted. If approved, the rezoning would create the city's largest Mandatory Inclusionary Housing area, add two million square feet of commercial space, and generate more than 7,000 new jobs, according to the Queens Eagle.
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Time Out to open new food hall in Union Square this fall

Credit: Filip Wolak

March 7, 2025

Time Out to open new food hall in Union Square this fall

By Aaron Ginsburg

Time Out is opening its second food hall in New York City this fall. Set to occupy the ground floor of Union Square's Zero Irving tech hub, the 10,000-square-foot Time Out Market will feature a curated selection of the city's premier culinary and cultural experiences. The 300-seat space will include seven kitchens, a fully stocked bar, an outdoor terrace, and a stage for live performances by local artists, according to Time Out.
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Food & Dining

Coney Island West plan calls for 1,500 new homes, boardwalk upgrades

Renderings courtesy of ONE Architecture & Urbanism

February 20, 2025

Coney Island West plan calls for 1,500 new homes, boardwalk upgrades

By Devin Gannon

The city is moving ahead with a plan to bring thousands of mixed-income homes, new retail, and boardwalk and street improvements to Coney Island. Mayor Eric Adams and the city's Economic Development Corporation on Thursday released their vision for "Coney Island West," a waterfront development area west of the Amusement District. On Thursday the city issued a request for proposals for the first city-owned parcel, kicking off the development of 1,500 new homes.
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Adams sets goal of 100K new homes in Manhattan over the next decade

Credit: Michael Appleton/Mayoral Photography Office on Flickr

January 9, 2025

Adams sets goal of 100K new homes in Manhattan over the next decade

By Aaron Ginsburg

To further address New York City's critical housing shortage, Mayor Eric Adams has set an ambitious target of adding 100,000 new homes to Manhattan over the next decade. During his 2025 State of the City address on Thursday, the mayor said he aims to review zoning across the borough to unlock potential housing sites for development, using the tools included in the recently passed "City of Yes for Housing Opportunity." Dubbed the "Manhattan Plan," the new initiative includes the Midtown South rezoning, which is expected to create 10,000 new homes.
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Policy

November 1, 2024

Updated Midtown South rezoning plan could create nearly 10,000 new homes

By Aaron Ginsburg

New zoning tools will allow the city to build bigger apartment buildings in Midtown Manhattan, doubling the new housing units permitted under a proposed rezoning. The Department of City Planning on Thursday released an updated draft of the Midtown South rezoning plan to incorporate floor area ratio (FAR) caps of 15 to 18, enabled by the state's recent repeal of the 12 FAR cap. This change allows larger developments and roughly 9,700 new homes, up from a previous estimate of 4,000, in a 42-block area of Midtown where housing development has been largely prohibited.
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September 24, 2024

Crown Heights project near Brooklyn Botanic Garden may be scrapped despite city approval

By Aaron Ginsburg

After securing a key approval from the city after years of delays, the developer behind a controversial residential project near the Brooklyn Botanic Garden said they plan to withdraw the application. The City Planning Commission (CPC) on Monday voted to approve a modified rezoning of 962-972 Franklin Avenue in Crown Heights that would result in fewer shadows cast on the garden from a new 14-story building developed by Continuum Company. But despite the approval, an attorney for Continuum's Ian Bruce Eicher told The Real Deal the group plans to withdraw the application because the modifications make the project impossible to finance.
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NYC Council approves East Bronx rezoning that will add 7,000 new homes

An illustration of the rezoning’s potential effects along Eastchester Road. Image courtesy of DCP.

August 16, 2024

NYC Council approves East Bronx rezoning that will add 7,000 new homes

By Aaron Ginsburg

The New York City Council on Thursday approved a major rezoning that will bring thousands of homes and $500 million in investments to the East Bronx. The Bronx Metro-North Station Area Plan targets 46 blocks around four new Metro-North stations planned for Co-op City, Hunts Point, Morris Park, and Parkchester/Van Nest. The rezoning, which includes over a million square feet of commercial space and retail space, and 10,000 new permanent jobs, is the first approved under Mayor Eric Adams.
details here

First project under Gowanus rezoning launches leasing for luxury apartments

Renderings courtesy of VUW

July 22, 2024

First project under Gowanus rezoning launches leasing for luxury apartments

By Devin Gannon

The first project developed under the Gowanus rezoning has launched leasing. Developed by Domain Companies and VOREA Group, 420 Carroll consists of a 21-story tower and a 16-story tower connected by an underground tunnel. Situated on the Gowanus Canal, the development includes 360 apartments, with market-rate rentals currently priced from $3,925/month for studios to $9,600/month for three bedrooms. Approved by the city in 2021, the rezoning upzoned 82 blocks of the neighborhood to create 8,500 units of housing and new open space.
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