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A potential second coming of the luxurious uptown condominium tower nicknamed the “Limestone Jesus” acquired a $322 million blessing to rise on the West Village waterfront.
The 570 Washington Avenue joint-venture improvement workforce of Zeckendorf Improvement, Atlas Capital Group and The Baupost Group on Friday nailed down a $322 million financing package deal from Blackstone, which can kick-start the $1.25 billion-plus luxurious residential mission.
Realty Test first reported on the Zeckendorf-Atlas development plan on Feb. 7 (Baupost had not but joined the workforce). There was some skepticism on the time that it might truly go ahead, partly as a result of though the builders had a contract to purchase the land, the deal had not but closed.
However it’s occurring now – and there’s no turning again.
The Newmark duo of Dustin Stolly and Jordan Roeschlaub, who’re co-heads of the Newmark Debt & Fairness unit, organized the three way partnership among the many trio and organized the financing package deal.
The lead developer is Zeckendorf, which famously constructed the celebrity-filled condominium tower at 15 Central Park West. It was nicknamed the “Limestone Jesus” for its sacrosanct fame as town’s best-selling luxurious residence. Present and previous residents embrace Goldman Sachs CEO Lloyd Blankfein, Robert De Niro, Denzel Washington and Alex Rodriguez.
The brand new downtown mission received’t essentially resemble it and won’t even be limestone. However comparisons are inevitable.
It is going to have two towers rising to 450 toes overlooking the Hudson River on the 1.3-acre empty lot on the West Facet Freeway between Houston and Clarkson streets.
Nevertheless, Robert A.M. Stern, who designed 15 CPW, doesn’t seem like concerned at 570 Washington, the place architectural agency COOKFOX is engaged on the design.