CP/SMI – 520 Fifth Avenue Mixed-Use Tower – New York - Project Profile
"CP/SMI – 520 Fifth Avenue Mixed-Use Tower – New York - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Ceruzzi Properties LLC (CP) and Shanghai Municipal Investment (SMI) are planning to construct a mixed-use complex in New York, the US.
The project involves the construction of a 71-story, 280m high mixed-use development on the 39,483m2 land. It will include the construction of 16,722m2 of luxury condominium space with 145 units, 208 hotel rooms, 3,065m2 of retail space, and parking and related facilities.
Handel Architects has been appointed as an architect and ZUM3D has been appointed as design consultant for the project.
Thor acquired the project site in December 2011 and submitted a revised planning to the city council on December 17, 2014.
In August 2015, developers secured US$150 million in the pre-development loan from J.P. Morgan and Fisher Brothers and acquired the project for US$325 million from Thor.
In 2014, demolition works completed on the project.
In December 2016, the first look of project designs was unveiled.
In July 2017, CP and SMI secured US$200 million in pre-development financing. The proceeds of this loan will be used to repay existing debt, conclude design and move forward with pre-development work.
The project involves the construction of a 71-story mixed-use development on 39,483m2 land in New York, the US.
The US$1,000 million project includes the following:
1. Construction of 180 hotel rooms
2. Construction of 3,065m2 of retail space
3. Construction of 16,722m2 of luxury condominium space with 145 units
4. Construction of parking and related facilitiesReasons To Buy