Developers Benenson Capital Partners and Mack Real Estate Group are moving forward with as-of-right plans to build an eight-story, 116-unit mixed-use complex at 432 East 14th Street, in the East Village. The developers pulled applications for a height variance that was initially to to build four extra stories, but then later scaled back to a single extra story, just before the Board of Standards and Appeals were scheduled to rule on it, Real Estate Weekly reported.
The project will now have 116 rental apartments; 20 percent, or 23 units, will rent at below-market rates through the housing lottery. The latest building permits currently show an eight-story, 135,186-square-foot structure that will have 113 apartments. There will also be 8,531 square feet of retail space on the ground and cellar levels. SLCE Architects is the architect of record. Foundation work is underway.