The Richman Group and Monadnock Development have, in a joint venture, submitted construction plans to the New York City Department of Buildings (DOB). The undertaking involves the erection of a residential building with a total of 420 housing units at 243 East 125th Street in Manhattan's East Harlem neighbourhood.
The plan, submitted by Kristin Miller, President of the Richman Group, on 26th July, encompasses a 14-storey mixed-use building with 648,000 square feet of residential space, 82,000 square feet of commercial space, and a 10,700 square foot community facility. Construction is planned to commence in early 2027. Paul Carr of S9 Architecture is the registered architect for the project.
Should the project be approved, floors two to 14 are intended to comprise between 28 and 38 flats each, according to the DOB plans. The planning documents also envisage 65 parking spaces, complemented by an attendant, as well as bicycle storage for 218 bicycles. Furthermore, the developers are planning two retail spaces, a social services office, and a range of amenities. These include a lounge, a gymnasium, a children's playroom, and a multi-purpose room.
The building, located at the corner of 125th Street and Second Avenue, would be part of the New York City Economic Development Corporation's B-East project. B-East is a 17,337 square foot city-owned site where the city aims to increasingly realise mixed-income housing. B-East is a component of the broader East 125th Street Development project, which was originally approved in 2008.
The entire East 125th Street Development project foresees the development of three plots and is expected to encompass a total of approximately 1.7 million square feet of residential, retail, and commercial space. Since the project's inception, 451 housing units, including 344 affordable units, as well as 65,000 square feet of retail space, have already been completed. The Mamdani Administration also pursues the overarching goal of creating 200,000 new housing units in New York City over the next ten years.
