MAG, Global Holdings plot Hudson Square resi tower
MaryAnne Gilmartin and Eyal Ofer are teaming up in Hudson Square. MAG Partners and Global Holdings signed a ground lease for Trinity Church’s property at 122 Varick Street, the Commercial Observer reported. Details of the long-term ground lease were not disclosed; Cushman & Wakefield’s Kevin Donner arranged the deal from the church’s end. The partners plan to build a 192,000-square-foot property at the site, utilizing the 485x tax abatement program. Under that program, at least 25 percent of the 149 rental units planned will need to be designated affordable. The project is also expected to include 5,000 square feet of […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Weekend Recap: Secret Shopping Compass Coming Soon
Listings
Grid No Longer Among Data Center Builders’ Biggest
Problems
America’s Top Architects: Travis Price Brings Transparency
To A Washington, D.C. Rowhouse
Developers widely reject large 485x projects
The mogul cashing out at 220 Central Park South
Everyone gets an increase, except these building
owners
NY Dirt: Politicians push developers to block
ICE
How to Turn Your Equity Into Rentals with a HELOC or
Cash-Out Refi (Rookie Reply)
Rezoned Sheepshead Bay site sells for $37M for large
affordable housing project
Massive North Fork waterfront estate sells for $15M in
single-lot record
