Developer’s Digest?: This Week's Top Development News
City To Upgrade Coney Island Boardwalk, Sports Center, Add 1,500 Housing Units
February 20, 2025
New York City has issued an RFP for a 500-unit housing project on an 80K SF city-owned site on Surf Avenue in Coney Island, with 25% of units reserved as affordable housing. This is part of a broader initiative to build 1,500 units in the Coney Island West redevelopment area. The city also plans a $42M renovation of the Abe Stark Sports Center and boardwalk. Mayor Adams aims to revitalize the area as a hub for living, working, and recreation, aligning with his broader housing development strategy across NYC.
Source: Bisnow
Take a Sneak Peek At $700 Million Governors Island Climate Hub
February 19, 2025
New York City is advancing plans for a $700M environmental research hub on Governors Island, The New York Climate Exchange, led by Stony Brook University. The 400,000 SF project will feature mass timber buildings connected by a solar-paneled canopy, designed to promote sustainable construction. It will incorporate solar and geothermal energy and elevate structures by eight feet for climate resilience. Skanska USA has been selected as the construction manager, with Skidmore, Owings & Merrill handling the design. Construction is set to begin in fall 2026, with completion expected by fall 2029.
Source: Crain's New York Business
Developer Looks To Revive Clinton Hill Church Project
February 19, 2025
Michael Lévy’s Geneva Transatlantic Holdings and Andrew Bradfield’s Orange Management acquired the long-vacant St. Luke’s Evangelical Lutheran Church in Clinton Hill for $9 million, planning to convert it into residential units. This marks Geneva Transatlantic’s first project. The site has faced two previous failed conversion attempts, including one by Serabjit Singh Malhotra, who bought it in 2019 for $13.5 million before filing for bankruptcy. The landmarked status adds complexity, but Lévy aims to restore the exterior while creating high-end interiors. He secured $40–$50 million in financing from an undisclosed family office.
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Source: The Real Deal
Boerum Hill In Line For More Than 350 Residential Units
February 21, 2025
Goose Property Management, led by Yitchok Katz, has filed plans for a 99-unit, 11-story residential building at 264 Bergen St. in Boerum Hill, part of a larger redevelopment of a former industrial site. The full project, enabled by a 2022 rezoning, envisions over 350 units across four buildings, with 90 affordable units, 9,600 square feet of retail, and a 10,000-square-foot community center. Katz’s portfolio includes multiple high-rise projects in Brooklyn, including a 45-story tower at 570 Fulton St. and two developments on Livingston St.
Source: Crain's New York Business
Bruce Teitelbaum’s Harlem Project Scores Support of Borough Prez
February 19, 2025
Bruce Teitelbaum’s One45 project in Harlem is back on track with the backing of Manhattan Borough President Mark Levine—albeit with conditions. The latest plan includes two 34-story towers with 968 units, 25% of which would be affordable. A key part of the deal involves the possible sale of one parcel to a nonprofit for a fully affordable building, effectively doubling the affordable housing count. The project still requires approvals from the City Planning Commission and City Council, and faces local opposition. Teitelbaum previously scrapped One45 due to political pushback, briefly turning the site into a truck depot and migrant center.
Source: The Real Deal