525 West 52nd Street

Address: 525 West 52nd Street, New York, NY
Submarket: Midtown West/Clinton
Size: 450,000 square feet, 400 units
Type: Multifamily
Date Acquired: January 2012
Date Sold: Currently owned by Taconic

525 West 52nd Street is currently a 30,124-square-foot-parcel of land located block through between 52nd and 53rd Streets and mid-block between 10th and 11th Avenues. We are in the process of rezoning the parcel for residential development and expect to begin work in 2014. The planned 450,000-gross-square-foot, 400-unit luxury rental building will be developed under New York State’s 80/20 market-rate/affordable housing program, which provides affordable housing and offers long-term, subsidized, tax-exempt financing for Taconic.