(Image Credit: Noë & Associates with The Boundary)
Sumaida + Khurana, the firm behind Tadao Ando's 152 Elizabeth, and LENY have closed on a $155 million construction loan for the development of 611 West 56th Street, the highly anticipated luxury condominium designed by Pritzker Prize-winning Portuguese architect Alvaro Siza. 611 West 56th Street is being co-developed by Sumaida + Khurana and LENY, and signifies Siza's first building in the United States.
For the construction loan, Madison Realty Capital and an investment fund managed by an affiliate of Apollo Global Management, LLC (“Apollo”) served as the lenders and Adi Chugh of Maverick Capital Partners arranged the financing. Attorneys Carl Schwartz and Susan Saslow of Hunton Andrews Kurth represented the joint venture. Madison Realty Capital was represented by 611 WEST 56TH STREET
Located in the evolving Hudson West neighborhood, 611 West 56th Street will stand 35 stories in height and feature 83 elegantly designed residences, ranging from one-bedrooms to expansive penthouses. The condominium will also feature a significant amount of outdoor space, including a landscaped roof garden and sun deck and numerous private terraces for the residents. Residents will also have access to a state of the art fitness center, children's playroom and a gracious entertaining space to host private events.
Sales are slated to launch Spring 2019, and will be handled exclusively by Leonard Steinberg, Debra LaChance, and Justin D’Adamo of Compass.
