Ares Management and Douglaston Development have scored a $560 million loan to use for 3ELEVEN, a multifamily property in New York City.
The funding for the two real estate firms is for a 60-story luxury apartment tower that comes with 938 total units. The property is located at 311 11th Avenue, and is just south of the Hudson Yards district in Manhattan. The apartment complex covers the west of 11th Avenue to the west of both 29th and 30th streets.
Options for tenants range from a studio to a three-bedroom apartment. Some amenities included are a fitness center, theater, conference rooms, outdoor areas, yoga studio, music rooms, pool, and a terrace on the 42nd floor.
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