Landsea plans 12-story luxury building in Flatiron District

Project will house 50 resi units

TRD New York /
Feb.February 19, 2019 12:30 PM

Landsea Homes CEO John Ho and 530 Sixth Avenue (Credit: LinkedIn and Google Maps)

Landsea Homes is furthering its residential play in the city, this time with a 12-story mixed-use project in the Flatiron District.

The project would span about 63,400 square feet and include about 6,200 square feet of retail space on the first floor, according to the application with the city’s building department. There also would be 50 residential units, and the 12th-floor residences would have private terraces.

Morris Adjmi Architects is designing the project, which is expected to house luxury residences.

Landsea, a China-based homebuilder, and DNA Development, which acquired the site with Landsea in a deal in the fall, did not immediately return requests for comment.

Extell Development sold the site, comprised for four, four-story buildings, for about $53 million to the partners after buying them in 2016 for $50 million from the Duell family.

Mack Real Estate Group funded Landsea and DNA’s acquisition with a $97 million senior and mezzanine loan.

Landsea, which in 2014 announced it would invest $1 billion in the U.S. housing market, is in the midst of constructing its first condominium in the city, a 14-story luxury property at 212 West 93rd Street in the Upper West Side. Its partner in the venture is Leyton Properties.

One of its first U.S. projects was a luxury condo in Weehawken, New Jersey.

Related Articles

One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

Triplemint expands to New Jersey

Gary Barnett and 1855 Broadway (Credit: Google Maps)

Gary Barnett assembling Columbus Circle development site

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

California passes landmark rent control law