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The Commercial Observer recently ...
The Commercial Observer recently announced this news, which they get from the creator Lou Ceruzzi of famous Ceruzzi Properties.
The site, located on the corner ...
The site, located on the corner of East 86th Street and Lexington Avenue, will have a 27,000-square-foot retail component and 150,000 square feet of residences and residential amenities, Mr. Ceruzzi said.
Lou Ceruzzi of Ceruzzi Properties, a partner in the deal, added: "This is simply a debt investment without a very high rate of interest."
is involved in the entire East 86th Street project with particular responsibility for the EB-5 money; Stillman is leading the residential efforts and Ceruzzi
is involved in the overall financing of the project and the retail component, Mr. Ceruzzi
In August 2015 Ceruzzi and SMI ...
In August 2015 Ceruzzi and SMI paid Joseph Sitt's Thor Equities $325 million for the property and 60,000 square feet of air rights.
Lou Ceruzzi, the CEO of Ceruzzi Properties, revealed that project will have three levels of retail at the base, topped with a hotel of 150 to 180 rooms and luxury condominium apartments.
"I only consider that a area ...
"I only consider that a area has gotten too profitable and rents have only changed adult so most that it's a formidable area to only simply be there to sell your product," Lou Ceruzzi of Ceruzzi Properties, told a newspaper.
Ceruzzi and SMI USA purchased ...
Ceruzzi and SMI USA purchased the 300,000-square-foot site, located at the corner of West 43rd Street and Fifth Avenue, from Joseph Sitt's Thor Equitiesfor $325 million, as Commercial Observer previously reported.
Ceruzzi Principal Louis Ceruzzi told The Real Deal that plans for the property include three levels of retail at the base topped off by 180,000 square feet of luxury condos with a total projected sellout of $1 billion or more.
The completed property will also likely contain a hotel with 150 to 180 rooms, he
"Given my long history and relationship with J.P. Morgan
and 520 Fifth Avenue's unrivaled development potential, we are delighted to have found a pre-development financing solution that allows us to set in motion a development project that will positively change the landscape of Fifth Avenue for generations," Mr. Ceruzzi
said in prepared remarks in the release from HFF.