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Wanted: $415M in construction financing for Douglaston’s Hudson Yards project
Firm is seeking money for 931-unit tower at 601 West 29th Street
![Renderings of 601 West 29th Street and Jeff Levine (Credit: CityRealty and Douglaston)](https://static.therealdeal.com/wp-content/uploads/2018/12/1200-douglaston-601-w-29th-street-842x525.jpg)
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