Wanted: $415M in construction financing for Douglaston’s Hudson Yards project

Firm is seeking money for 931-unit tower at 601 West 29th Street

New York /
Dec.December 14, 2018 09:30 AM

Renderings of 601 West 29th Street and Jeff Levine (Credit: CityRealty and Douglaston)

It’s not going to get built by itself. Douglaston Development wants a $415 million construction loan for its multifamily project at 601 West 29th Street.

Jeffrey Levine’s firm plans to build a 58-story, 931-unit project at the site, with construction set to finish in 2022, according to Commercial Observer. His firm started the search for construction financing about a week ago. Greystone Bassuk is negotiating a possible debt deal.

Douglaston signed a 99-year ground lease for the development site last month, as The Real Deal previously reported.  Douglaston pre-filed permits for the project in September and transferred 123,000 square feet of air rights from Chelsea Piers for the project. [CO]  – Eddie Small


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
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
At 432 Park, a $30M condo is in default and its owner has vanished
At 432 Park, a $30M condo is in default and its owner has vanished
At 432 Park, a $30M condo is in default and its owner has vanished
817 Broadway and Taconic co-CEOs Charles Bendit and Paul Pariser (Taconic)
Taconic lands $125M refi for renovated Union Square office building
Taconic lands $125M refi for renovated Union Square office building
The tenants who won the affordable housing lottery at 15 Hudson Yards say the units are in an “entirely separate part of the building and with a different address.” (Hudson Yards, District Court of New York)
Lawsuit claims 15 Hudson Yards discriminates with “poor doors”
Lawsuit claims 15 Hudson Yards discriminates with “poor doors”
Lev Capital raises $30M Series A round
Lev raises $30M Series A round
Lev raises $30M Series A round
Tavros Capital Partners' Nicholas Silvers and Dov Barnett with a rending 351 West 14th Street (Tavros, BKSK Architects)
Tavros nabs refi on Meatpacking District properties it wants to redevelop
Tavros nabs refi on Meatpacking District properties it wants to redevelop
arrow_forward_ios

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

Loading...