Tribeca Investment Group, Meadow Partners, and PGIM Real Estate have secured $150 million in construction financing to complete a commercial modernization project at 295 Fifth Avenue in Midtown, Manhattan. Construction recently completed on a penthouse addition, bringing the structure to 19 stories and 710,000 square feet.
The New York City Council voted Tuesday, November 21 to approve Innovation QNS, a $2 billion mixed-use development that will bring 3,200 apartments to Astoria, Queens. The development team behind the property includes Kaufman Astoria Studios, Silverstein Properties, and BedRock Real Estate Partners, which was forced to price around 1,400 apartments, or nearly half of the planned units, below market rate.
Related Companies and The Hudson Companies have closed on a $185 million financial package to complete Riverwalk 9, a 28-story residential building at 430 Main Street on Roosevelt Island. Designed by Handel Architects, the tower is the ninth and final component of the Riverwalk mega-development. Wells Fargo provided financing for the housing development.
Construction is complete on a new two-story penthouse space atop 295 Fifth Avenue, a 16-story commercial building in Midtown South, Manhattan. Designed by Studios Architecture and developed by Tribeca Investment Group, PGIM Real Estate, and Meadow Partners, the 34,000-square-foot space will contain modern light-filled workspaces and multiple wraparound terraces with sweeping views of the Midtown skyline.
Extell Development Company has closed on $425 million construction loan to complete a mixed-use high-rise at 1520 First Avenue on Manhattan’s Upper East Side. The 30-story building will include a mix of medical and commercial office space with frontage along East 80th and East 81st Streets.