It’s not going to get built by itself. Douglaston Development wants a $415 million construction loan for its multifamily project at 601 West 29th Street.
Jeffrey Levine’s firm plans to build a 58-story, 931-unit project at the site, with construction set to finish in 2022, according to Commercial Observer. His firm started the search for construction financing about a week ago. Greystone Bassuk is negotiating a possible debt deal.
Douglaston signed a 99-year ground lease for the development site last month, as The Real Deal previously reported. Douglaston pre-filed permits for the project in September and transferred 123,000 square feet of air rights from Chelsea Piers for the project. [CO] – Eddie Small