“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, Magnusson Architecture & Planning, Architect.

Project Data*

Building
Budget: $21,823,758
Studios: 24
1BR: 36
2BR: 11
3BR: 0
Affordable: 7
Total: 71
Parking: 16
Stories: 6
Retail Space: 3000 sqft
Occupancy
Residents: 115
Students: 4
School: Columbus

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

Planning Board Approval: 9/29/2015
IDA Approval: 1/16/2016
Constr. Start: 8/16/2017
Length: 14 months
Completion: 10/1/2018
Tax Incentives
"As Is" Tax: $
Full Property Tax: $2,670,007
PILOT: $1,802,388
Owner Savings: $867,619
PILOT (yrs): 12

Mortgage Tax Exemption: $156040
Fair Share Mitigation: $

Data Last Updated: 3/2/2019

*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 calculated 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

3/23/2019


3/9/2019


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2/23/2019


2/16/2019


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1/26/2019


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1/12/2019


View from the bridge

1/5/2019


12/29/2018


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12/23/2018


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12/15/2018


12/2/2018


11/3/2018


10/27/2018


10/26/2018


10/20/2018


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10/13/18

9/29/2018


9/29/2018


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


8/26/2014


Bing Streetview 8/26/14