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Spitzer, Related land $276M in financing for Hudson Yards senior housing project

Quote:

Eliot Spitzer and Related Companies have landed $276 million in building and project loans for their 526-unit housing development in Hudson Yards. About a quarter of the units will be for senior housing.

The loans are from M&T Bank, and are split between a roughly $203 million mortgage and a $73.1 million mortgage for 451 10th Avenue, according to property records.

Representatives for Related and Spitzer Enterprises did not immediately respond to requests for comment.

Last week, Related and Atria Senior Living — along with Spitzer and real estate investment trust Welltower Inc. — said it had closed on a partnership at the property. Development began late last year and is expected to be completed in 2022. It will mark the second location for the joint venture’s new series of what it calls “upscale urban senior living communities” and the first on the East Coast. The Related-Atria JV was formed in 2018 to develop, own and operate modern urban communities catering to seniors living in major metropolitan areas.

Spitzer and Related filed plans for their project with the Department of Buildings in June. It will stand 44 stories tall and span about 415,000 square feet, split between 268,000 square feet of residential space, 114,000 square feet of community space and 33,000 square feet of commercial space. Of the 526 residential units, 126 will be for seniors.

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TRD

Created a thread for the office tower...

https://skyscraperpage.com/forum/sho...=1#post8910312

^^^

Excellent footage of the construction, but whoever is commentating needs to lay of the 8 am whiskey.

Quote:

Originally Posted by chris08876 (Post 9000041)

^^^

Excellent footage of the construction, but whoever is commentating needs to lay of the 8 am whiskey.

That guy is a New York treasure, lol.

New Renderings Reveal ‘The Set’ At 451 Tenth Avenue In Hudson Yards

https://newyorkyimby.com/wp-content/...2020/12/1c.jpg

https://newyorkyimby.com/wp-content/...2020/12/1a.jpg

https://newyorkyimby.com/wp-content/...2020/12/1e.jpg

https://newyorkyimby.com/wp-content/...1f-777x461.jpg

Quote:

New renderings from Handel Architects reveal The Set, a 587-foot-tall residential skyscraper under construction at 451 Tenth Avenue in Hudson Yards. Developed by Related Companies, the 45-story structure is rising from a 17,280-square-foot L-shaped lot at the corner of Tenth Avenue and West 35th Street, directly to the north of Bjarke Ingels‘ 66 Hudson Boulevard, aka The Spiral. Though it’s unclear which final form the building will take in terms of color palette, the renderings are likely a good indication of what’s to come for the reinforced concrete edifice that’s already several floors above street level.

The external architectural appearance is inspired by Gothic cathedrals and emphasizes the idea of verticality by utilizing a motif of elegantly curved terracotta panels between the floor-to-ceiling windows. Renderings show these façade elements in both light gray and bronze options. This minor detail in the overall assembly aims to distinguish the structure from its neighbors, with an earth-toned palette contrasting with the modern glass forms of skyscrapers like Kohn Pedersen Fox’s 30 Hudson Yards.

The development will include a restaurant, an Equinox fitness center, a senior living facility, and market-rate rental units with amenities including a movie theater and an outdoor swimming pool and terrace.

No official completion date has been announced for 451 Tenth Avenue, but sometime in 2022 is likely.

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NYY

I sense a blank wall...

Quote:

Originally Posted by RobEss (Post 9149465)

I sense a blank wall...

It doesn't look like it looking at the rising superstructure. Windows on each side. Either way, this will be flanked by both the Spiral and the next phase, which will be a taller office building.