NEW YORK, NY – Vertically-integrated real estate private equity firm Madison Realty Capital has originated a $70 million loan for developer the Chetrit Group to construct two mixed-use towers in Manhattan.
Located in Manhattan's Lower East Side neighborhood at 260 South St., the waterfront development will include a 64-story tower and a 70-story tower.
The class A property will offer 1,300 multifamily units, 16,000 square feet of retail space and 130 parking spaces. The residential space will include a mix of studio, one-, two- and three bedroom units, and the property will offer affordable rents as a part of the Affordable New York program.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
