“6-story, 71-unit apartment building on Huguenot Street, across from the New Roc City garage. The building will feature extensive common space, a roof top terrace, residence lounge, and fitness center, plus lots of tech elements — all intended to attract primarily millennial residents.” Noam Bramson. Developer - Megalith Capital Management with East & Hudson as partner

Project Data*

Building
Budget: $21,823,758
Studios: 24
1BR: 26
2BR: 11
3BR: 0
Affordable: 0
Total: 61
Parking: 
Stories: 6
Retail Space:  sqft
Occupancy
Residents: 109
Students: 2
School: Columbus

Jobs
Construction: 
Permanent FT: 
Permanent PT: 
Dates
Status: IDA Approved

Planning Board Approval: 9/29/2015
IDA Approval: 
Constr. Start: 8/16/2017
Length: 14 months
Completion: 10/1/2018
Tax Incentives
"As Is" Tax: $
Full Property Tax: $
PILOT: $798,848
Owner Savings: $
PILOT (yrs): 

Mortgage Tax Exemption: $156040
Fair Share Mitigation: $

Data Last Updated: 9/30/2018

*Data listed here is subject to change. FOIL/FOIA requests are pending to obtain any missing data. Some of these numbers are estimated. Data comes from city documents.

** GLOSSARY TERMS: "As Is" taxes are the taxes of the property before development. Full Property Taxes are the taxes of the property after development. PILOT means Payment in Lieu of Taxes, which is less than full property taxes. Owner savings is the property tax abatement in dollars and as a percent of Full Property Taxes. PILOT length is the number of years that the PILOT is in effect. Fair Share Mitigation (FSM) fees are monies collected by the City from the developer to cover future infrastructure needs. The school system gets approximately 2/3 of the FSM fees.

*** Residents are calculated as follows: Studios = 1, 1BR = 1.5, 2BR = 3, 3BR = 4.5 (NDC formula) Students are calculted as follows: Studios (*0), 1BR (*0.014), 2BR (*0.141), 3BR (*0.213) (NDC formula)

*Data updating and collection is done by volunteers and may contain the occasional error or miscalculation.

Progress Gallery

11/3/2018


10/27/2018


10/26/2018


10/20/2018


10/13/2018


10/13/18

9/29/2018


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9/22/2018


9/14/2018


9/1/2018


9/1/18

8/11/2018


7/28/2018


7/21/2018


7/14/2018


7/1/2018


6/16/2018


6/9/2018


5/19/2018


5/13/2018


4/28/2018


4/6/2018


3/28/2018


3/11/2018


2/19/2018


1/27/2018


1/2/2018


12/29/2017


12/2/2017


11/12/2017


9/4/2017


7/1/2016