Friday, January 17, 2025

Financing Closes for Estela at 414 and 445 Gerard Avenue in Mott Haven, The Bronx

 

Rendering of The Estela. Designed by S9 Architecture

Developer The Domain Companies announced today the closing of $218.6 million in financing for Estela, a two-building development in Mott Haven, The Bronx. The 11-story buildings at 414 and 445 Gerard Avenue yield 544 market-rate and affordable housing units and 10,000 square feet of ground-floor retail space. Freddie Mac’s Forward Commitment program provided long-term permanent financing through JLL Real Estate Capital. The Urban Investment Group at Goldman Sachs Alternatives led the Opportunity Zone equity financing for the mixed-income, mixed-use project.

Estela has 380 market-rate units and 164 affordable rental apartments. Residences are equipped with energy-efficient appliances, name-brand kitchen finishes, energy-efficient windows, hardwood plank flooring, and in-unit washers and dryers.

Rendering of The Estela. Designed by S9 Architecture

Rendering of The Estela. Designed by S9 Architecture

The residential amenity suite spans more than 35,000 square feet and includes 4,000 square feet of combined outdoor courtyard space, 24/7 concierge service, dedicated coworking space, gym with double-height ceilings, a yoga room, a children’s playroom, a pet run and spa, and screening, game, and lounge rooms. The property also features a parking garage with electric vehicle charging stations.

Both buildings are expected to receive LEED Platinum-level certification due to sustainability features including solar panels and rainwater harvesting systems.

Estela’s ground-floor retail tenants include the Mott Haven Marketplace grocery store, which opened last year. Residential move-ins began in May 2023 and the building is now 90 percent leased. The Domain Companies’ affiliate, Good Company, provides in-house leasing for Estela from an on-site office.

VCJC News & Notes 1/17/25

 

Van Cortlandt Jewish Center
News and Notes

Here's this week's edition of the VCJC News and Notes email. We hope you enjoy it and find it useful!

Reminders

  1. Shabbos

    Shabbos information is, as always, available on our website, both in the information sidebar and the events calendar.
    Here are the times you need:  
    Shabbos Candles Friday 1/17/25 @ 4:38 pm
    Shabbos morning services at 8:40 am.  Please join the services if you can do so safely. 
    Shabbos Ends Saturday 1/18/25 @ 5:42 pm

    If you require an aliyah or would like to lead services, read from the torah or haftorah please speak to one of the gabbaim.
     

  2. Save the date

    Sunday, February 2, 2025. 9:30 AM to 2:00 PM

    We will be sponsoring a BLOOD DRIVE in conjunction with the New York Blood Center.

    It will be held in the first floor game room.


Our mailing address is:

Van Cortlandt Jewish Center
3880 Sedgwick Ave
Bronx, NY 10463