RXR – Ritz-Carlton Residences – New York - Project Profile
"RXR – Ritz-Carlton Residences – 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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RXR Realty (RXR) is undertaking the construction of a condominium complex in New York, the US.
The project involves the construction of a 244-unit condominium complex on 7ha of land. It will be developed in phases.
The first phase includes the construction of 124 residential units and second phase includes the construction of 120 residential units, clubhouse, swimming pool, exercise room and a movie theater.
It also includes the construction of retail facilities, entertainment facilities, parking and related facilities.
The project will be managed by The Ritz-Carlton Hotel Company, LLC. and in November 2013, RXR received preliminary approval from North Hills Village Board.
Fuller Construction Management has been appointed as the contractor and in 2013, The Nassau County Industrial Development Agency granted tax breaks to the project.
HFF secured construction financing for the first phase of the project in 2013.
In March 2014, the construction works on the first phase commenced.
In May 2016, construction on the first phase completed. In June 2016, North Hills Village Board approved the final changes to plans for the second phase.
On November 28, 2016, Holliday Fenoglio Fowler, L.P. (HFF) arranged US$156 million construction loan from ACORE Capital for the second phase.
In November 2016, construction works on the second phase commenced.
Construction works are underway on the second phase scheduled to be complete in the first quarter of 2019.
The project involves the construction of a 244-unit condominium complex on 7ha of land in North Hills, New York, the US.
The US$300 million project includes the following:
1. Construction of retail units
2. Construction of entertainment facilities
3. Construction of clubhouse
4. Construction of movie theater
5. Construction of parking spaces
6. Construction of related facilitiesReasons To Buy