The Real Deal New York

Rockefeller and Mitsubishi file plans for 46-story NoMad tower

Mitsubishi also took a 75% stake in the site for $85M
By Kathryn Brenzel | February 01, 2018 01:00PM

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.