JCAL Press

Where to Live When the L Train Shuts Down

Anywhere but by the L train. That’s what you hear from residents of north Brooklyn, as the main underground link between Manhattan and neighborhoods such as Williamsburg and Bushwick is scheduled to be shut down in less than two years’ time, or within the span of a two-year lease that

Read More

JCAL plans 75-unit affordable housing building in Harlem

Bronx-based JCAL Development Group is wading into Manhattan’s affordable housing game, with plans to build a 75-unit rental building in Central Harlem. Plans call for a 15-story, mixed-use building at 2395 Frederick Douglass Boulevard, also known as 2395 Eighth Avenue, according to a permit application filed with the city’s Department

Read More

First Niagara Provides $22M Construction Loan on Bronx Multifamily Property

JCAL Development and the Altmark Group have snagged $22.1million in construction financing from First Niagara Bank, Commercial Observer Finance can first report. JLL Capital Markets arranged the financing, which will fund a multifamily development at 329 East 132nd Street. The building will be the first Class A multifamily asset in

Read More

Italian Chef to Head Up New South Bronx Pizzeria

PORT MORRIS — A new Italian restaurant and pizzeria should arrive in the South Bronx in just a few months, marking the latest business venture into the neighborhood from developer Keith Rubenstein and his team. The eatery, called La Grata, will serve a variety of pizzas, pastas and salads and

Read More

Keith Rubenstein to bring “Bruckner Market” food hall to South Bronx

Chelsea’s got one. So does the Meatpacking District. And now the South Bronx is getting a trendy new food hall, courtesy of developer Keith Rubenstein. Rubenstein’s Somerset Partners TRData LogoTINY closed Wednesday on the purchase of a 16,000-square-foot warehouse at 9 Bruckner Boulevard that he plans to convert into a

Read More

The final frontier for NYC’s struggling artists

A light-filled apartment building in Mott Haven is one 6 train stop into NYC’s northernmost borough. The ground floor holds the six-year old BronxArtSpace, a gallery dedicated to South Bronx artists. Each one of the flats above, converted from a paint shop to 13 lofts that sold for between $400,000

Read More

In the Bronx, Some See the Next Dining Destination

When Douglas Rodriguez was scouting locations for his first New York restaurant in more than 10 years, he looked at all the popular neighborhoods, from Manhattan’s Flatiron District to Brooklyn’s Williamsburg. In the end, the James Beard Award-winning chef , often considered the force behind “Nuevo Latino” cuisine, opted for

Read More

The Bronx feeding frenzy

Developers and investors are quietly rushing in, spending millions to get in on the city’s next real estate frontier. The sun was shining and the air was crisp when 30 real estate pros from CIM Group, Kushner Real Estate Group, Criterion Group and Mitsui Fudosan boarded a bus idling on

Read More

De Blasio Celebrates Most New Affordable Housing Units in 25 Years

The almost 8,500 affordable apartments finalized or under construction during the 2015 fiscal year were the most new units created in 25 years, city officials said Monday. Mayor Bill de Blasio made the announcement on Summit Avenue in The Bronx where a $17 million, 58-unit affordable housing project was being

Read More

Summit Ridge hosts Mayor’s announcement of major NYC affordable housing production milestone.

New York City has financed more than 20,000 affordable housing units — either planned, built or preserved — in the past fiscal year, Mayor Bill de Blasio announced Monday. The 20,325 affordable apartments and homes are the most in one year since 1989 and, de Blasio said, proof he is

Read More