Muss taking a back seat at Sky View Parc

New York /
Mar.March 23, 2010 12:20 PM

Toronto-based private equity firm Onex has quietly taken the reins from Muss Development in their new 3.3. million-square-foot Sky View Parc complex in Flushing Queens, reportedly “calling the shots” while Muss takes a back seat in planning, according to the Post. Onex has been said to be anxious about slow sales in the buildings, prompting a recent move to bring in the Related Companies as a sales and leasing consultant for the six planned residential towers, set atop a three-story, 800,000-square-foot shopping center. The first apartments at the complex had originally been slated for occupancy last summer, but still none of the buildings are complete. While Muss has said 40 percent of the 448 apartments in the first three “Phase I” towers are sold, none have closed. Crain’s had reported last week that both Muss and Onex had approached Related about the deal, in which the developer would have no equity, but sources said Onex actually did so of its own accord. [Post]


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
Related's Stephen Ross and the Chelsea-Elliott Houses (Getty, Wikimedia)
Related wades into NYCHA — and becomes a target
Related wades into NYCHA — and becomes a target
Eliot Spitzer, Stephen Ross, 506 and 152 West 36th Street and 511 West 35th Street (Google Maps, Related Group, IMDB)
Related Companies nabs land from Spitzer Enterprises for $77M
Related Companies nabs land from Spitzer Enterprises for $77M
Top loans: Related Companies exits Margaritaville, digs in at Truffles Tribeca
Top loans: Related exits Margaritaville, digs in at Truffles Tribeca
Top loans: Related exits Margaritaville, digs in at Truffles Tribeca
Gravity CEO Moshe Cohen and Related CEO Jeff Blau (Getty, Gravity)
Related partners with electric vehicle startup to bring charging stations to NYC
Related partners with electric vehicle startup to bring charging stations to NYC
34 Desbrosses Street and Related CEO Jeff Blau (StreetEasy, Getty)
Related scores $258M Blackstone loan for luxury Tribeca apartment building
Related scores $258M Blackstone loan for luxury Tribeca apartment building
Stephen Ross and Esperanté Corporate Center
Stephen Ross becomes king of West Palm offices
Stephen Ross becomes king of West Palm offices
Gov. Andrew Cuomo. Inset: CHIP's Jay Martin, REBNY's James Whelan and GFP Real Estate's Jeff Gural (Getty)
Real estate industry forced to take sides on Cuomo
Real estate industry forced to take sides on Cuomo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...