Cactus A.M. makes the Real Deal's "top 10 biggest real estate projects coming to NYC" with 4720
Updated: Mar 12, 2020
*Article originally published in the Real Deal
Brookfield Property Partners and the Gotham Organization dominated the top 10 projects filed in New York in March.
Both companies had multiple projects appear in the top 10 last month. Brookfield had three projects in Greenpoint at 221 West Street (which took first place), 1 Eagle Street and 15 Eagle Street, while Gotham Organization had two projects in Long Island City at 1-15 57th Avenue (which took second place) and 57-28 2nd Street.
Overall, the list was split between three projects in Brooklyn, three projects in Queens, two projects in the Bronx and two projects in Manhattan. Staten Island did not make an appearance on the list last month.
The full list of March’s top 10 biggest real estate projects is below:
1. 221 West Street, Brooklyn The largest project filed last month was a roughly 719,000-square-foot development from Brookfield at 221 West Street in Greenpoint. The development will stand 29 stories and 336 feet tall, and it will feature 302 residential units across about 710,000 square feet. Commercial space will occupy the other 9,000 square feet. Brookfield is also developing Greenpoint Landing with Park Tower Group nearby.
2. 1-15 57th Avenue, Queens Gotham Organization took second place for March with plans for a mixed-use project spanning slightly less than 700,000 square feet at 1-15 57th Avenue in Long Island City. The building would include roughly 640,000 square feet of residential space, 9,000 square feet of commercial space and 19,000 square feet of community space. It would stand 57 stories tall with 692 residential units. Riseboro Community Partnership is developing the project as well, which would be the tallest building on the Queens waterfront, according to YIMBY.
3. 1 Eagle Street, Brooklyn Another Greenpoint project from Brookfield took third place, this time at 1 Eagle Street. The roughly 388,000-square-foot project will stand 39 stories tall with 335 residential units.
4. 57-28 2nd Street, Queens Gotham Organization’s plans for Long Island City also took the No. 4 spot. The firm is planning another project at 57-28 2nd Street spanning about 335,000 square feet that will stand 33 stories and 360 feet tall. The building will include 452 residential units across about 328,000 square feet, and it will include a roughly 7,000-square-foot community facility as well. Riseboro Community Development is also helping to develop this project, according to YIMBY.
5. 13-38 Central Avenue, Queens A roughly 195,000-square-foot project in Far Rockaway rounded out the top five for March. The 219-unit mixed-use development comes from Brisa Builders Corporation, an affordable housing company, and will stand nine stories tall at 13-38 Central Avenue. It will include 219 residential units across about 132,000 square feet, and it will feature 12,000 square feet of commercial space and 51,000 square feet of community space as well. Classroom and gymnasium space, along with retail and storage space, will be on the first floor, while nonprofit offices and some residential units will be on the second floor. The residential space will include class-A and supportive housing units.
6. 4720 Third Avenue, Bronx The Bronx made its first appearance on the list courtesy of a roughly 191,000-square-foot project planned for 4720 Third Avenue in Belmont. The project comes from Cactus Holdings, the holding company that controls the supermarket chain Western Beef. The mixed-use building would include 159 residential units and stand nine stories tall with about 128,000 square feet of residential space, 61,000 square feet of commercial space and 900 square feet of community space.
7. 15 Eagle Street, Brooklyn The final Greenpoint project from Brookfield on the list will span about 175,000 square feet at 15 Eagle Street. It will stand seven stories tall and include 108 residential units.
8. 4790 Broadway, Manhattan An affordable housing project from the city’s Department of Housing Preservation and Development marks Manhattan’s first appearance on the list. The development at 4790 Broadway in Inwood will span roughly 145,000 square feet and stand 14 stories tall. It will include 174 housing units across about 118,000 square feet and feature 26,000 square feet of community space as well. The project will include a new library, as it is located at the current site of the Inwood Library.
9. 310 Grand Concourse, Bronx Simon Kaufman’s YS Realty files plans for a roughly 135,000-square-foot project at 310 Grand Concourse in Mott Haven. The project will stand 14 stories tall and include 157 residential units.
10. 310 East 86th Street, Manhattan Izaki Group Investments closed out the list for March with a roughly 129,000-square-foot project on the Upper East Side at 310 East 86th Street. The condo building would stand 20 stories tall and include 68 units. IGI acquired 310-314 East 86th Street in 2017 for $42 millionfrom Gary Barnett’s Extell Development and was reportedly planning a smaller condo project at the time.