Cheskel Schwimmer receives TCO for 240-unit rental in Mott Haven

Cheskel Schwimmer, on August 31, was issued a temporary certificate of occupancy for construction of a 240-unit residential tower at 228 East 135th Street in Mott Haven. The TCO is for one of the towers in a two-tower development known as The Arches, which will span 310,565-square-feet when completed. It is unclear how the square footage is broken out between the two towers.

The plans, pre-filed on August 25, 2015, call for the construction of a 250-foot tall, 25-story residential building. The time from pre-file to TCO was just over five years. In total, both towers will have 430 rental units and 24 hotel rooms when complete.

The project is described in the filings as: new twenty five 25-story building.

According to the plan’s Schedule A, Tower A is the completed portion of the development. The tower has two retail spaces, a fitness center, a lobby, mail room, and recreation space on the ground floor. The 240 rental units, occupying floors two through 25, range from six to 13 units per floor.

The development received $140 million in total loans from S3 Capital Partners. The first loan, for $75 million was given for the construction of the first tower. The next loan, a $65 million construction loan, was given in 2019 for the second tower.

The architect behind the development was Fischer + Makooi Architect.

Leasing for the development launched last week, with prices ranging from $2,300 per month for studios to roughly $2,900 for two-bedroom apartments, according to reports.

Schwimmer purchased the vacant lots in 2015 for $15.47 million from Storage Deluxe.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Direct link to C of O document.LINK