Hypo Real Estate Capital Corp., the New York-based subsidiary of Hypo Real Estate Bank International, closed on the financing to Thatch, Ripley & Co., LLC for the construction of a mixed-use residential cooperative. The project will also contain 7,200 sf of ground-floor retail space and an underground parking garage with a capacity of 70 vehicles. The Gotham Construction Co. will act as the construction manager for the project. Gotham focuses on the construction of health care and educational facilities, hotels, urban commercial and retail centers, government subsidized housing and luxury residential high-rise buildings. Recent projects include the Harlem USA retail complex, the Capitol at 776 Sixth Ave. Carnegie Hill Place and 777 Ave. of the Americas.

Recent Macklowe developments include the recently completed 610 Broadway, a 120,000-sf office/showroom building on Houston Street between Broadway and Crosby Street. The seven-story glass-and-steel structure was previously the site of a gas station, car wash and a three-level underground parking garage. Macklowe calls 610 Broadway "the first modern glass building developed in Soho." It is directly across the street from the landmark Cable Building and near a 40,000-sf Crate & Barrel store as well as Apple Computer's flagship location on Prince Street.