601 W.29th St. rendering courtesy of FXCollaborative
NEW YORK CITY—Douglaston Development and Ares ManagementCorporation have formed a joint venture to build a massiveresidential complex in Manhattan's Far West Side, where HudsonYards meets West Chelsea. The 931-unit luxury, mixed-useresidential development will take up a full block on Eleventh Ave.extending between W. 29th and W. 30th streets, with the address of601 W. 29th St.
Greystone has arranged equity and construction debt for theproject. A syndicate of banks led by HSBC, with co-lenders Bank ofChina and Landesbank Hessen-Thüringen (also known as Helaba),provided a $415 million construction loan. Santander Bank andRaymond James Bank also participated in the loan facility.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
