NEW YORK | 60 Fulton Street | 236 FT | 23 FLOORS

[chris08876]

Seems like this went unnoticed.

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Brausers land $62M to build new Fulton Street apartment tower

Scheduled for completion in 2016, the 23-story project will be developed by Socius Development Group, and will contain a total of 120 rental units (96 market rate and 24 affordable) comprised of studio, one- and two-bedroom floor plans. Exhibit will offer residents views of the Manhattan skyline, East River and Brooklyn Bridge.

Property amenities will be located on the 23rd floor and will include two landscaped rooftop terraces with indoor and outdoor fireplaces, resident lounge, demonstration kitchen and dining area, game room, fitness center and yoga studio. With frontage along Fulton Street, the project will also contain 6,800 s/f of retail.

This is the second collaboration between Scott Aaron, managing principal of Socius Development Group and the Brauser family. They previously developed 100 West 18th Street, a luxury condominium and retail development in Chelsea.

The HFF team representing the borrower was led by managing director Rob Rizzi, managing director Michael Gigliotti and director Jennifer Keller.
“The project is strategically positioned to benefit from the ongoing transformation of the Financial District into a vibrant residential neighborhood,” said Jennifer Keller.

“This construction-perm loan allowed the sponsor to lock a historically low fixed interest rate with an opportunity to increase proceeds upon stabilization – an ideal execution for a generational owner.”

Construction Status:


Credit: rbrome