Cape Advisors, the New York based real estate development and investment firm, in partnership with the Pioneer Group, today announced that Astoria West, a new rental development, has topped out.
In late July of 2020, Cape Advisors announced they had secured $280 million in financing to facilitate construction for Astoria West, located at 30-77 Vernon Avenue .
“Each day we’re getting closer to delivering this exciting residential offering,” said Craig Wood of Cape Advisors. “We’re making excellent progress at the site thanks to our talented development, design and construction team. In spite of the many challenges posed by the pandemic, the entire team has worked exceptionally hard to keep the project on track and we applaud them for their effort and dedication.”
“It has been a pleasure working with the Cape Advisors and the entire development team on Astoria West to bring this impressive development to life” said Serhat Sert from Ant Yapi-Civic, the Turkey-based construction management enterprise.
“Our construction team in the field has shown incredible creativity, diligence and perseverance in managing and pushing the construction forward so quickly in a year with many challenges. We are thankful for the outstanding effort shown by every team member.”
Astoria West will encompass three buildings and 534 residences on a two-and-a-half-acre waterfront site.
With architecture and interior design by award-winning firm Fogarty Finger, the development will comprise studio, one and two-bedroom homes, complemented by an extensive amenity package.
The rooftop features a pool and lounge area, set to the backdrop of 360-degree views of Manhattan and beyond, and the landscaped private inner courtyard and gardens give residents a plethora of options for enjoying fresh air and outdoor space. Additional amenities will cater to the growing remote workforce including indoor and outdoor co-working lounges, as well as a fitness center and game room.
“We highly appreciate the effort of all partners and collaborators on this project, and we look forward to completing construction on Astoria West and welcoming residents to their new home. Congratulations to the executive team, and many thanks to Cape Advisors.” added George Scharenatz of the Pioneer Group.