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MaryAnne Gilmartin and a rendering of 335 Eighth Avenue (Getty, COOKFOX Architects)
MaryAnne Gilmartin’s development firm struck a deal to redevelop a corner site on Eighth Avenue in Chelsea.
MAG Partners was chosen to enter into a long-term lease with a sprawling, multi-block affordable housing complex for a dilapidated retail building at 335 Eighth Avenue,
The Real Deal has learned. The firm plans to redevelop the site into a mixed-income apartment building with a grocery store and community space. Construction is expected to start in 2022.
The seven-story project will qualify for the Affordable New York program, with 30 percent of the approximately 200 set aside as affordable.
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