Aby Rosen forges ahead with 610 Lexington Ave hotel, condo

New York /
Jan.January 06, 2014 04:00 PM

RFR Realty’s planned hotel and condominium tower at 610 Lexington Avenue appears to be hanging onto design plans from SLCE Architects, despite the Midtown East rezoning flop that will ultimately limit the structure’s height and width.

The ultimate tower will now be a total of 303,000 square feet, according to new building permits cited by New York Yimby. The total height is to be 65 floors, or 712 feet, according to the documents — a slight jump over the previously-planned 60 stories. The top two floors will be used as a mechanical space, and the residential units will sit between floors 52 and 63, above a hotel.

Aby Rosen’s RFR borrowed $144.2 million from Lehman Brothers Holdings for a 64-story hotel, the original plan for the site, in 2007. The project then stalled during the credit crisis, with Lehman transferring the loans to ING Real Estate in 2008. Shangri-La Hotel then withdrew from the project in 2009, and ING filed to foreclose on the loan two months later. To keep the property, RFR made a deal with ING to buy a $144 million loan against the site. [New York Yimby]Julie Strickland


Related Articles

arrow_forward_ios
From left: 2201 Collins Avenue in Miami Beach, Joseph Nakash, Aby Rosen, Ralph Nakash, and David Edelstein (Photos via Marriott; Getty)
Nakash family sells W South Beach units to RFR, Tricap
Nakash family sells W South Beach units to RFR, Tricap
The Gramercy Park Hotel at  2 Lexington Avenue and Aby Rosen of RFR Holding (Getty; Google Maps)
Aby Rosen’s Gramercy Park Hotel faces eviction
Aby Rosen’s Gramercy Park Hotel faces eviction
RFR Holding's Aby Rosen with the Seagram Building and the Chrysler Building (Photos via Getty; iStock)
Aby Rosen says firms have been too “nice-nice” with employees
Aby Rosen says firms have been too “nice-nice” with employees
From left: 410 Tenth Avenue, 745 Fifth Avenue, One Manhattan West and 522 Fifth Avenue (Google Maps, Wikimedia)
Real estate lending bounces back in September in a big way
Real estate lending bounces back in September in a big way
522 Fifth Avenue and 1375 Broadway (Google Maps)
Manhattan CRE deals hit lows not seen since 2009
Manhattan CRE deals hit lows not seen since 2009
From left: Michael Fuchs, Aby Rosen, Brandon Singer and Michael Cody (Getty, iStock)
Aby Rosen, Michael Fuchs back new retail brokerage
Aby Rosen, Michael Fuchs back new retail brokerage
RFR Realty's Aby Rosen and 522 Fifth Avenue (Getty; Google Maps)
Aby Rosen buys Midtown office building for $350M
Aby Rosen buys Midtown office building for $350M
Joseph Nakash, Aby Rosen and W South Beach (Getty, Google Maps)
Aby Rosen’s RFR, Nakash family battle over failed sale of W South Beach condos
Aby Rosen’s RFR, Nakash family battle over failed sale of W South Beach condos
arrow_forward_ios

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

Loading...