In total, the downtown development portfolio includes 325,391 net rentable square feet, including 31,473 square feet of commercial space and 627 multifamily units – all of which are fully entitled and approved by city authorities.
In a statement, Tishman Speyer said it would develop 620 Class A apartments, 116 of which will be designated as affordable, as well as the retail space. The company said Phase One of project construction is expected to begin by late 2022, with the first buildings complete by the end of 2024.
Read More: https://www.smdp.com/new-york-company-makes-citys-largest-real-estate-purchase/212024