The Real Deal New York

Cipriani family plans to open food hall at
Waterline Square megaproject

Family behind famed restaurants will open 28K sf market at GID's 2 Waterline Square
June 19, 2017 09:26AM

From left: GID’s James Linsley, Giuseppe Cipriani and renderings of Waterline Square (Credit: Noe & Associates with The Boundary)

The Cipriani family plans to open a food market at GID Development Group’s Waterline Square megaproject on the Upper West Side.

The family behind the famed restaurants signed a lease to open a 28,000-square-foot food hall with a market, restaurants and fast-casual options at 2 Waterline Square, GID announced Monday. Kohn Pedersen Fox is designing that building, one of three condominium towers GID and partner Henley Holding Co. are developing in Waterline Square.

Mitch Friedel at Newmark Knight Frank negotiated on behalf of GID, while Barry Goodman — also of Newmark — represented Cipriani.

GID and Henley, a subsidiary of the Abu Dhabi Investment Authority, landed more than $1.2 billion in construction financing in November from a consortium of lenders. It’s one of the largest construction loans of this cycle. The project features a total of 1,132 residential units.

GID and Henley are targeting a sellout north of $1 billion for three condominium towers, according to an offering plan accepted in late May by the New York State Attorney General’s office.

The Cipriani family also plans to open a hotel in the South Street Seaport by the end of the year at 33 Peck Slip.  — Rich Bockmann