Naftali Group has secured a $236 million construction loan for 255 East 77th Street, a 36-story residential skyscraper on Manhattan’s Upper East Side. Provided by J.P. Morgan and Starwood Capital, the loan will will help complete the 500-foot-tall structure, which is currently in the excavation phase.
Governor Kathy Hochul has announced the winning plan for the redevelopment of Manhattan’s former Lincoln Correctional Facility at 31-33 West 110th Street in Harlem. Named the Seneca project, the project aims to transform the site into an affordable housing development with 105 units. The $90 million initiative, led by Infinite Horizons, L+M Development Partners, Urbane, and Lemor Development Group, is part of the state’s broader strategy to alleviate New York’s housing crisis.
The 18th-tallest building on our year-end construction countdown is 255 East 77th Street, a 500-foot-tall residential skyscraper in the Lenox Hill section of Manhattan’s Upper East Side. Developed by Naftali Group with Hill West Architects as the architect of record, the 36-story structure will span 170,481 square feet and yield 62 condominium units, as well as 3,861 square feet of retail space, two cellar levels, and 33 enclosed parking spaces. 255 East 77th St Owner LP is listed as the owner and New Line Structures & Development is the general contractor for the project, which is alternately addressed as 1481 Second Avenue and located at the corner of Second Avenue and East 77th Street.
Permits have been filed for a seven-story mixed-use building at 132 West 134th Street in Harlem, Manhattan. Located between Malcolm X Boulevard and Adam Clayton Powell Jr. Boulevard, the lot is near the 135th Street subway station, serviced by the 2 and 3 trains. Wen Zhu is listed as the owner behind the applications.
The 26th-tallest building on our annual year-end construction countdown is 1522 First Avenue, a 30-story medical office building rising in the Yorkville section of Manhattan’s Upper East Side. Designed by Perkins Eastman and developed by Extell Development Company, the 449-foot-tall structure will yield 400,000 square feet of Class A office space and retail space on the ground floor and cellar levels. The Hospital for Special Surgery will serve as the anchor tenant, occupying 200,000 square feet across the first eight stories of the building. Ancora Engineering is the engineer of record and Lendlease is the general contractor for the project, which is alternately addressed as 403 East 79th Street and located between East 79th and 80th Streets.
