“Developers can not get enough of Manhattan’s West Side. Yet another development site is set to be picked up for a record-setting price. Crain’s reports that JDS Development Group, as a joint venture with Largo Investments, plans to buy 510-514 West 24th Street for $32 million, which doesn’t sound like that crazy of a price, but it works out to $800 per buildable square foot, and that would be a record. The site is just a half a block from the High Line, and it’s located between Cary Tamarkin’s new 10-story condo and Related’s rental building, the Tate. Currently, the site is occupied by two three-story buildings. Earlier this week, Crain’s reported that two other development sites near the High Line were picked up by Related, and last month three other sites sold near Hudson Yards.”

A new rental building in East Williamsburg, located where a neighborhood church one stood, will bring 33 units to the market this spring.
The MDIM-designed, cross-shaped building at 281 Union Avenue will house one-bedroom apartments starting at $2,400 a month and two-bedrooms starting at $3,500 a month. Those that include outdoor space are pricier, ranging $3,800 to $4,800 a month. Amenities will include a gym, laundry room, recreation room and communal outdoor space.
Alex Brown Realty is developing the property, which last changed hands for $2.58 million in 2012, in partnership with Largo Investments

The seven-story building will be located in the Williamsburg neighborhood of Brooklyn on a unique “island lot” formerly occupied by a church. The building will include 27 one-bedroom units, three two-bedroom units and three three-bedroom units. Unit sizes will average 593 sf for one-bedroom units, 784 sf for two-bedroom units, and 1,234 sf for three-bedroom units. Each apartment will include hardwood floors, quartz countertops, stainless steel appliances, and a private balcony or terrace. The property will include a gym, storage space, and 17 covered parking spaces.

In the case of 111 Kent, the original developer had intended the building to be a condominium, but after constructing the majority of the building, financing dried up and Stellar Management and its partner Largo Investments acquired the property for $24.6 million. Stellar invested $8 million to finish the building and quickly rented out the units, some for as high as $70 a square foot, said Mathew Lembo, a vice president at Stellar. Then, earlier this month, Stellar sold the investment to American Realty Advisors, which plans to hold the property for the long term

It is the firm’s first acquisition in the trendy Brooklyn neighborhood, the article said, adding that Stella “partnered with Largo Investments to buy the seven-story, 73,000-square-foot property, located at 111 Kent Ave., for $24.6 million” and “will invest $8 million into completing the construction of the building, which is already 90% complete, according to Matthew Lembo, vice president at Stellar Management.”