Exploring NYC’s Latest Development Projects

Exploring NYC’s Latest Development Projects

Several new condo projects are underway in New York City. Here is a look at just a few of the projects bringing more than 200 new housing options to NYC residents.

39 Apartments Coming to Park Slope

Situated on a tiny lot next to the condo building known as 251 First Street, a new 12-story cantilevering residential building at 265 Fourth Avenue is on the rise. Designed by architect Jordan Rogove of DXS Studio, the building will bring 39 apartments to the Park Slope neighborhood. Current plans call for a mix of studios, one-bedroom, two-bedroom and three-bedroom units with prices starting at around $800,000. Planned amenities include a gym, a rooftop terrace, a residents lounge and ground-floor retail.

To get the project started, New Empire Real Estate Development purchased the site in 2014 from an auto repair shop for a reported $4.4 million. The developer also purchased air rights at the time, allowing the building to reach a maximum of 125 feet. While some changes to the design may take place before the project is complete, Rogove says the cantilevering design will remain in place in order to allow for the possibility of creating more apartments within the small space. The current project is expected to be complete by the end of next year.

ODA New York Brining New Condos to Downtown Brooklyn

Thanks to a collaboration between ODA New York and Adam America Real Estate, 184 new condos will soon be coming to Downtown Brooklyn. Located at 10 Nevins Street, the 27-story development will feature a mix of studios, one-, two- and three-bedroom apartments ranging in price fro $590,000 to more than $2.5 million.

Entrances to the new building will be located on both Nevins Street and Grove Place, with the dual-level amenity space including fitness, aquatic and entertainment facilities. The building itself will boast a muted color palette with a dark gray brick exterior and wood, marble and other natural materials inside.

This current project is one of many that has resulted from the collaboration between ODA New York and Adam America Real Estate, with the team having at least five other projects currently in the works. Sales for the new development at 10 Nevins Street are expected to begin sometime within the next few months.

18-Story Condo Coming to Madison Avenue

Naftali Group has filed plans to develop an 18-story building on the Upper East Side offering 16 new condos to the area. Located at 1045 Madison Avenue, the building would rise 210 feet into the air and would replace a consignment shop currently located on the property.

With Peter Pennoyer as the architect on the project, the building will feature three duplexes with several other apartments occupying full floors. Building amenities will include a billiards room, a gym, a roof terrace and a theater room.

Naftali Group reportedly purchased the property for $22.5 million after purchasing the lot at 1041 Madison Avenue for $21 million last fall. The developer has also purchased the lot at 1039 for $26 million.