"GDSNY has been tapped to oversee leasing and development management at the property, a year after pre-leasing at the nine-story office building first launched."
"The project has had a long and turbulent road, even before Miller's death. REEC acquired the leasehold for $29 million in 2018 and bet on a speculative office development just before the pandemic upended the market."
"Unlike a traditional developer or lender, we design, build, manage, and lease, which makes us able to bring solutions to complex challenges."
The project at 1 Saint Mark's Place has transitioned to GDSNY for leasing and development management. Sephora is preparing to open on the ground floor. The nine-story office building, which has faced financial difficulties, is now complete. GDSNY is not only leasing but also designing a new lobby and managing the asset. The project has experienced a turbulent history, including a $29 million acquisition in 2018 and a $70 million rescue refinance in 2022. The current status of REEC's involvement remains unclear.
Read at therealdeal.com
Unable to calculate read time
Collection
[
|
...
]