NEW YORK CITY-The Albanese Organization is planning to construct a nine-story office building at 510 West 22nd Street and 10th Avenue. The firm will replace the 88,000-square-foot warehouse property at 510 West 22nd Street with a 175,000-square-foot building.
Albanese bought the property last year for $54.5 million from Highland Capital Management, which took control over the property from Jay-Z. In order to start the $140-million project, Albanese is looking to obtain an anchor tenant for the development. For the full story, go to New York Times .
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