Property Group Partners has entered into a joint venture with Romanoff Equities to develop 860 Washington Street in the Meatpacking District.
The new 120,000 s/f mixed-use office and retail development will rise on a site adjacent to the elevated High Line Park and between the architecturally prominent Standard Hotel and High Line Building.
Development will start immediately and the buildign is expected to be delivered by 2015, according to Property Group Partners, an owner and developer formerly known as Louis Dreyfus Property Group.
“We’re delighted Property Group Partners is once again making its mark on Manhattan with our joint venture at 860 Washington Street in the Meat Packing District,” said Jeffrey Sussman, president of Property Group Partners, which withdrew from Manhattan’s real estate market in early 2012 with the lucrative sale of its historic Soho loft development, 148 Lafayette Street.
“Focused on developing only the most iconic buildings, we’re very pleased to have partnered with Romanoff Equities, which has obtained essential approvals and permits allowing Property Group Partners to bring this project to reality,” Sussman added. “With its impressive architectural design and expansive views over the High Line and wider neighborhood, 860 Washington Street will be an archetypal complement to the Meatpacking District, its Museum, boutiques and businesses alike.”
Designed by architectural firm James Carpenter Design Associates, renderings for the ten-story 860 Washington Street feature drawn angles and a curtain wall of glass.
With 11,000 to 13,400 s/f floor plates and 14 to 25 ft. ceiling heights, the property’s design employs a unique feature permitting retail space on two floors adjacent to the High Line.
860 Washington Street will be LEED certified and will employ the latest technologies to harness both daylight and water which will help irrigate the flower beds and trees of the High Line Park.
The transaction was facilitated by Eastdil Secured represented by Douglas Harmon, Adam Spies and Josh King.
