We’re all a work in progress. Here’s what we’re working on now.
61-63 Pitt Street • Lower East Side, Manhattan
The location of this property is key. Located in an up-and-coming part of the Lower East Side, this building will cater to young professionals craving the liveliness of the LES.
These two lots, including air rights and light & air easements from 57 Pitt St. and 65 Pitt St., will be a 12-story 48,000 square-foot, 59-unit luxury rental building. The property was purchased July 2020, full NB plans were approved April 2021 and demolition of the existing structure at 63 Pitt. was completed May 2021. We anticipate construction completion and lease up Q3 2022.
68-19 Woodhaven Boulevard • Rego Park, Queens
This site was purchased in July of 2019 with below market rate tenants occupying the space through 2021. As-of-right the property allowed for a 19,239sf structure. The development team went through the rigorous NYC ULURP process to get the site rezoning approved May 2021 to C2-3/R6A MIH. This allows for 92,000+ allowable floor area. The project anticipates to have Brownfield approval Q3 2021 and NYC DOB Plan approval Q1 2022.
27-10 37th Avenue • Long Island City, Queens
Located in the booming neighborhood of Long Island City, Queens, this 2,500 square foot development site had environmental issues - issues known prior to purchase - that have been resolved. The existing structure has been demolished, and construction is ongoing for a ~11,000 gross square foot building with commercial space on the ground floor and 10 rental units above. This project is utilizing the ICAP and 421A tax incentive programs. Expected completion and lease up is Q1 2022.
282 Grand Street • Chinatown, Manhattan
Prosper entered into a joint venture in October 2021. Once complete 282 Grand Street will consist of ground floor commercial space and 25 luxury rentals over 7 stories and 25,000 square feet.