Real Estate Weekly
Image default

NEW DEVELOPMENT: Work starts on LIC rental

JMH Development, Mettle Property GroUP
Work starts on LIC rental

Construction is underway at 36-20 Steinway Street in Long Island City, which is being developed as a 158,000 s/f rental building by Jason Halpern’s JMH Development in partnership with Gerard Longo’s Mettle Property Group. The team previously secured a $56 million construction loan from Scale Lending in May.
Leasing for the 143-unit rental project, which will offer studio, one and two-bedroom homes, is tentatively slated for spring, 2021.
 Once complete, the project will boast 18,000 s/f of ground-floor retail, an on-site parking garage and a fitness center, a furnished resident lounge, multiple shared outdoor spaces and a 24-hour attended lobby.
 Citi Habitats’ David Maundrell will exclusively handle marketing and leasing for the project. Additionally, the retail space at the base of the project is currently being marketed by Geoff Bailey at RIPCO.
 The project is designed by NYC-based architecture firm SLCE with interiors by Lauren Jayne Design.

Robert Mumford Homes
VIP invite to new homes collection

Roger Mumford Homes has started collecting VIP registrations for its newest Monmouth County community. Oak Hollow Middletown is a collection of 12 new single-family homes with side entry garages on Oxley Lane and Taylor Lane in Middletown, NJ.
Oak Hollow Middletown will feature Roger Mumford Homes’ innovative home designs that highlight four to five bedrooms, two-and-a-half to three baths, 2-Zone Heating and Cooling, Superior Wall basement systems and master bedroom tray ceilings.
Other highlights include: kitchens with stone countertops, recessed panel cabinets and Samsung stainless steel appliances; master baths with oversized showers; oak treads and railing on main stairs; large master suites with tray ceilings and generous walk-in closets; carriage-style insulated garage doors, and 2-zone high-efficiency 95+ natural gas forced air furnace along with high efficiency air conditioning.
Downtown Red Bank, The Grove at Shrewsbury and the Monmouth Mall are all located nearby. The Middletown NJ Transit Train Station, NY Waterway Ferry, Seastreak Ferry and Newark International Airport are all easily accessible.
Homes will be priced from the low $700s.

● L + M, Prudential Financial, Goldman Sachs
Transformation almost complete at Walker House

L+M Development Partners in partnership with Prudential Financial and the Goldman Sachs Urban Investment Group have released the first finished exterior, lobby and amenity space photographs of Walker House, the fully restored, landmarked former home of NJ Bell in Downtown Newark.
The exterior and amenity photographs highlight the Art Deco style of 540 Broad Street, which celebrated its opening in June.
In addition to its 264 mixed income residences, Class A office and ground floor retail space, Walker House features a lobby and brick-and-sandstone exterior, both of which are on the U.S. National Register of Historic Places, as well as a fitness center and yoga studio, library lounge, game room, private catering kitchen and dining room, and a rooftop terrace with outdoor seating and dining, a fire pit and BBQs.
Designed by famed architect Ralph Thomas Walker in the 1920s, the 21-story Walker House launched leasing for the building’s 211 luxury residences this spring. Homes available include studios through three-bedrooms starting starting at $1,815 per month with a limited-time offer of one free month on a 13-month lease.
In addition to the amenities offered within the building, Walker House is located just steps from light rail, parks, and cultural institutions, as well as the NJ Transit commuter rail station for a half hour ride into Lower Manhattan.
Method Climbing, the first indoor rock-climbing facility in Newark, will open in Walker House this fall. Additionally, Bada Bean Cawfee, a 2,300 s/f mafia movie-themed coffee shop and restaurant, will occupy a ground floor space along with a brewery and UPS store.
The pet-friendly, smoke-free building also includes bicycle storage, resident storage, a 24/7 doorman and a porte-cochere on Atlantic Street.

● Nortco Development
Sales underway at new Harlem condo

Nortco Development has launched sales at Eleven Hancock in Harlem, a ground up luxury condominium located at 11 Hancock Place just south of 125th Street near Morningside Park.
Designed by Issac & Stern Architects with interiors by Lemay + Escobar, Eleven Hancock boasts a cantilevered design highlighted by a façade of alternating horizontal zinc and rust-colored bands. Industrial-inspired windows will showcase the building’s exposed diagonal beams encased in finished concrete a unique design feature for select residences.
Sales at Eleven Hancock Place will be led by Halstead Development Marketing’s Krantz + Krantz Team from a sales gallery at at 2298 Frederick Douglass Boulevard. Scheduled for completion in mid-2020, the 12-story, 130,000-s/f building will comprise 71 studio, one, two, three and four-bedroom residences. Nearly 50 percent of homes at Eleven Hancock Place will feature private outdoor space. Asking prices range from $585,000 to over $2.8M.
Homes have high-performance multi-zone heating and cooling systems, separate in-unit Miele washers and dryers, USB charging outlets and prewired cable, data and telephone connections. Some units will also boast private rooftop cabanas with preinstalled BBQs and sinks.
Amenities include a fitness center complete with Peloton bikes, a resident’s lounge; children’s playroom; pet spa; package room and storage spaces. There’s also a roof deck and a garden terrace both with feature outdoor kitchens and BBQ stations, seating and dining areas.

Related posts

Denholtz Properties Acquires 214-Unit, Luxury Community in Hudson County, N.J.


Pacific Urban Investors Expands Southern California Portfolio with Acquisition of La ScalaStrengthening Presence in Highly Desirable San Diego Submarket


KeyBank Secures $20.3 Million of Financing for Multifamily Housing Property in Anchorage, AK.