Rockefeller and Mitsubishi file plans for 46-story NoMad tower

Mitsubishi also took a 75% stake in the site for $85M

TRD New York /
Feb.February 01, 2018 01:00 PM

Two subsidiaries of the Mitsubishi Estate Company plan to build a 100-unit-plus condominium building in NoMad.

Rockefeller Group and Mitsubishi Estate New York filed plans on Thursday for a 46-story, 123-unit condo building at 30 East 29th Street. The project will span roughly 170,000 square feet and rise nearly 600 feet tall, according to documents filed with the city’s Department of Buildings. CetraRuddy is listed as the project’s architect of record.

Representatives for Rockefeller couldn’t immediately provide comment.

Rockefeller purchased five parcels on East 29th Street and additional development rights for $98.7 million in 2017. The sellers included Extell Development, the W Brothers and the 29th Street Partners LLC. At the time, the developer announced plans for a condo projected.

Mitsubishi, according to the city’s Department of Finance, took a 75 percent stake in the five parcels for $85 million. The sister company had provided debt to Rockefeller for the acquisition of the properties, which was converted into an equity position in the project.

Earlier this month, Commercial Observer reported that a major leadership change was planned at Rockefeller. In April, Daniel Moore, executive vice president and head of urban development, will take the helm from co-presidents and CEOs Daniel Rashin and Tetsuya Masuda. The company, known for Rockefeller Center and Time-Life Building, is working on the massive mixed-use Flushing Commons project with F&T Group and AECOM Capital.


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
Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

New York’s CRE woes could spread nationwide: investors
The National Association of Home Builders Housing Market Index reached a record high for the second consecutive month in October 2020. (iStock)

Building up: Homebuilder confidence hits new highs

Building up: Homebuilder confidence hits new highs
Nextdoor CEO Sarah Friar (Getty; iStock)

Nextdoor social networking app considers going public

Nextdoor social networking app considers going public
Subversive CEO Richard Acosta (Photos via ICSC; iStock)

Riding high: Inception, Subversive to launch publicly traded cannabis REIT

Riding high: Inception, Subversive to launch publicly traded cannabis REIT
Gov. Andrew Cuomo announced that movie theaters in some New York counties can reopen, but NYC’s theaters are excluded for now. (Getty; iStock)

Cuomo: Movie theaters can reopen — but not in NYC

Cuomo: Movie theaters can reopen — but not in NYC
arrow_forward_ios

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

Loading...