In an important step forward for its Hudson Square project at 537 Greenwich Street, a joint venture between Strategic Capital (the investment arm of China Construction America), Forum Absolute Capital Partners, and Cape Advisors has closed on a $215 million construction loan from Bank of the Ozarks. This clears the way for work to begin on a 27-story, 170-unit condominium tower that will also include retail and parking. Select units will have outdoor terraces, and amenities are expected to include a fitness center and attended lobby.
537 Greenwich Street is the first New York City development for Strategic Capital, and Cape Advisors CEO Craig Wood describes it as “a singular opportunity in a fantastic downtown location.” Indeed, Hudson Square, a neighborhood on the border of the West Village, Soho, and Tribeca has been making the transition from industrial to residential much to the delight of apartment hunters. Neighbors 70 Charlton Street, 570 Broome Street, and 111 Varick Street have already attracted strong interest. Sales at 537 Greenwich Street are expected to commence in 2018, and completion is anticipated for 2019.
537 Greenwich Street is the first New York City development for Strategic Capital, and Cape Advisors CEO Craig Wood describes it as “a singular opportunity in a fantastic downtown location.” Indeed, Hudson Square, a neighborhood on the border of the West Village, Soho, and Tribeca has been making the transition from industrial to residential much to the delight of apartment hunters. Neighbors 70 Charlton Street, 570 Broome Street, and 111 Varick Street have already attracted strong interest. Sales at 537 Greenwich Street are expected to commence in 2018, and completion is anticipated for 2019.
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Michelle Mazzarella
Michelle is a contributing writer and editor for real estate news in New York City
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