Lend Lease has purchased a stake at Victor Group’s planned residential development at 281 5th Avenue, in Midtown South, according to Crain’s Business. First brought to you by YIMBY last December, a 51-story, 140-unit mixed-use tower — to span 250,000 square feet and stand 750 feet — is planned for the 30th Street site. Although the size of Lend Lease’s stake is unknown, the project will total $400 million, and ground breaking is expected this year. Multiple existing low-rise structure must first be demolished, and the final design has not yet been revealed.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
109 Madison St NYC
Sold for $8 mil