Welcome to Curbed Cuts, a tri-weekly digest connecting the dots between shelter, structure, parks, transportation, and more.
Central Park Tower nears $900M construction loan
Extell is close to securing a $900 million construction loan on its 1,550-foot supertall at 217 West 57th Street, The Real Deal has learned. The group of lenders is reportedly led by JP Morgan Chase, but neither Extell nor JP Morgan were willing to confirm with TRD. Last month, the Attorney General’s office approved the $4 billion sellout for the building, making it the most expensive building in the city to date (granted all the condos sell of course). However that approval also means apartments at this 179-unit development would cost $22 million on average. Construction has been moving along swiftly on this Adrian Smith + Gordon Gill Architecture-designed condo, which will also have a massive Nordstrom flagship store at its base.
NYC Ferry invests in quieter horns
Following complaints from residents living along the Brooklyn waterfront (particularly in Williamsburg), the NYC Ferry service has invested in low-pitched horns. These new horns were installed on the service’s fleet over the weekend, and will be rear-facing horns to further ensure waterfront residents aren’t too affected by the sound. The ferry has soared in popularity since its launch, and last week it welcomed its 500,000th rider after just 53 days in service.
Red Apple Supermarket set to shutter
Downtown Brooklyn’s Red Apple Supermarket will close its doors for good in a couple of months, the Commercial Observer reports. The store is owned by John Catsimatidis, an erstwhile mayoral candidate, and the billionaire owner of the Red Apple Group, which also runs Gristedes and D’Agostino stores. This latest announcement is another indication of the shrinking Red Apple empire, which has gone down from operating 100 stores at its peak to about 35 today.
Massey wants to cover NYC highways with parks
The man looking to take on Mayor Bill de Blasio’s job, Paul Massey, has proposed a $400 million plan to add parks along the routes of the Brooklyn-Queens Expressway and the Cross Bronx Expressway, the New York Post reports. These parks would be similar to the existing Brooklyn Heights Promenade. Geoffrey Croft, a parks advocate, praised the idea of bringing parks to neighborhoods that were often destroyed by these highways. Some elected officials on the current administration however pointed to existing plans and raised concerns about the proposed costs of Massey’s plan.