NEW YORK | 111 Varick Street | 337 FT | 27 FLOORS

chris08876 · #1 Posted **Aug 28, 2017, 10:30 PM**

111 VARICK. NEW YORK

Quote:

CLIENT
Robal Parking Corporation
Madigan Development

SCOPE OF WORK
Architecture
Interior design

SIZE
125 000 SF

LOCATION
New York, New York

STATUS
Design

Permits Filed For 111 Varick Street, Hudson Square

Quote:

Among the many neighborhoods that comprise Lower Manhattan, few have an identity as abstract as “Hudson Square,” which was only dubbed thusly relatively recently, following a re-zoning. While it will still take a few more years for New Yorkers to realize it isn’t “beyond Tribeca,” “below the Village,” or “no bridge, just tunnel,” developers have raced ahead of impending recognition with plans for several new buildings, including 565 Broome Street, 100 Vandam Street, and now, another, at 111 Varick Street.

There, Madigan Development is planning a 27-story tower, with a design by S9 Architects. The site is quite close to the other proposals at 565 Broome Street and 100 Vandam Street, so naturally, the anticipated envelope is roughly the same. The building will rise 337 feet to its rooftop, so ceiling heights should be generous, and its total construction area of 125,000 square feet will be divided between a commercial component of 1,785 square feet, and residential space totaling 105,696 square feet.

There will be 101 units in total, with the average size almost 1,050 square feet a major indicator that product will be condominiums.

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1) http://s9architecture.com/111-varick/
2) NYY

binjakob · #2 Posted **Aug 29, 2017, 12:41 AM**

Not the worst I've seen, but definitely not the best.

chris08876 · #3 Posted **Feb 22, 2018, 2:53 AM**

Trio of Lenders Provide $73M for Development of Madigan’s 111 Varick Street

Quote:

Madigan Development has secured $73 million from a trio of banks to finance the development of 111 Varick Street, its planned 30-story luxury rental building in Greenwich Village, according to records released yesterday by the New York City Department of Finance.

The trio of lenders includes Prudential, Valley National Bank and TriState Capital Bank. The $73 million financing package includes a $57.4 million building loan and a $15.6 million project loan. The building loan was split into three notes, with Valley National providing $37.7 million, Prudential chipping in roughly $11.8 million and TriState Capital rounding it out with approximately $7.9 million, records show.

Valley National provided $10.3 million to lead the three notes that comprise the project loan. Prudential and TriState Capital provided $3.2 million and $2.2 million, respectively. The financing closed on Jan. 26.

The building—designed by S9 Architecture—will be comprised of 100 luxury rental units and will include 10-foot-tall ceilings and “condo finishes and appliances,” according to information from Madigan’s website.

Its construction area, totaling 125,000 square feet, will be divided between a commercial component of 1,785 square feet and a residential space totaling 105,696 square feet, according to an August 2017 report from New York YIMBY and development plans filed with New York City’s Department of Buildings. The average size of units will likely be around 1,050 square feet, according to the report.

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https://commercialobserver.com/2018/...varick-street/