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Residential

Fosun to develop luxury NoMad apartment tower

Fosun Property has announced that it will co-develop, with JD Carlisle LLC, an 800 ft, 47-story luxury residential condominium tower at 126 Madison Avenue in NoMad.

The tower is Fosun’s first ground-up development project in the U.S, and is a milestone in the company’s global investment initiative.

The news follows Fosun’s acquisition of 28 Liberty, formerly known as One Chase Manhattan Plaza, a two-million square foot, landmarked class-A office tower in Lower Manhattan which was rebranded earlier this year.

The 350,000 s/f residential tower, located at 30th Street and Madison Avenue, will offer luxury condominiums and is currently in the design and planning stage.

It is being designed by Handel Architects with interiors by Gachot Studios, and will include a 75 ft. swimming pool, spa services, a fitness center as well as entertainment spaces.

The proposed building offers 360-degree views, and its design offers corner living rooms in every unit.
“After our acquisition of the landmark 28 Liberty in 2013, Fosun has expanded its North America real estate development, asset management, and property investment presence. We are honored to develop this new residential property alongside a respected and established local partner such as JD Carlisle,” said Xu Xiaoliang, vice president of Fosun, president of Fosun Property.

“This strategic partnership with JD Carlisle enables Fosun to expand and diversify its global real estate holdings.”

“We at JD Carlisle are excited to be the co-developer,” said Jules Demchick, chairman of JD Carlisle.
“The opportunity to work as joint venture partner with an entity that has the international reach, proficiency and global experience of Fosun is exciting.”

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