PMG’s Kevin Maloney on Billionaire’s Row supertall: a financial “disaster”
Property Markets Group’s Kevin Maloney did not mince words about 111 West 57th Street. “From an architectural point of view, it’s a marvel,” the firm’s founder said of the Billionaire’s Row supertall that rises over 1,400 feet high yet is just 60 feet wide. “Financially it was a disaster.” Maloney spoke about the challenges of the project faced on Tuesday at a panel on supertall development at the National Association of Real Estate Editors’ annual conference in Miami. “We recently completed, and not really too successfully, this tiny tower in Manhattan,” he said. “That project took us about 11 years.” […]
This article originally appeared on The Real Deal. Click here to read the full story.
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