SMA Equities has plans to develop 202 E. 23rd St., a mixed-use, passive house designed, multi-housing property consisting of 108 units, located on the corner of Third Avenue and 23rd Street in the Gramercy Park submarket of Manhattan.
It recently received a construction loan of $56 million.
202 E. 23rd St. is a 20-story, 90,000-square-foot, mixed-use residential building that will consist of 80 market-rate units and 28 affordable housing units. Floorplan options includes studio, one- and two-bedroom apartments. Built under the Affordable New York 421-a program, the property will feature a passive house design along with high-end amenity spaces and ground-floor retail. The passive house design provides superior air quality with optimal eco-friendly climate control.
The project is being developed on two adjacent lots, offering 47 feet of frontage along Third Avenue and 100 feet of frontage along East 23rd Street. Building features include bike storage, 24/7
