Cost overruns halt construction on massive new UWS synagogue

New York /
Oct.October 19, 2010 09:00 AM

The planned new Lincoln Square Synagogue building

Construction on the city’s largest new synagogue in 50 years has halted amid a changeup in the congregation’s leadership, according to the Forward. President Scott Liebman of the Lincoln Square Synagogue, which is building its new 52,000-square-foot facility at 180 Amsterdam Avenue, stepped down this week, four days after an announcement that construction would stop due to around $17 million in cost overruns, pending a naming donor or venture partner. The long-planned, three-story structure was financed in large part by a land-swap deal with American Continental Properties, which owns Lincoln Towers. In 2007, ACP traded its 12,000-square-foot parcel for the synagogue’s present location and air rights just 100 feet away and agreed to pay for the majority of construction costs. The synagogue has been renting its original space from ACP in the interim but would have to move if and when the developer decides to build for its own purposes in that spot. [Forward]

 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
The parcel of land in Causeway Bay (Google Maps)
Hong Kong sells Causeway Bay site for $2.5B
Hong Kong sells Causeway Bay site for $2.5B
(Beverly Hills Estates)
Another massive property outside LA lists for $75M
Another massive property outside LA lists for $75M
Lachlan Murdoch and the home on Sydney Harbor (Getty, Private Property Global)
Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house
Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house
Major real estate stocks ended in negative territory this week. (Getty)
Real estate stocks, markets jittery over inflation
Real estate stocks, markets jittery over inflation
Closing time: HFZ vacates the XI sales gallery in Chelsea
Closing time: HFZ vacates the XI sales gallery in Chelsea
Closing time: HFZ vacates the XI sales gallery in Chelsea
arrow_forward_ios

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

Loading...