Alchemy Properties

378 West End Avenue Wraps Up Construction on Manhattan’s Upper West Side

Construction is finishing up on 378 West End Avenue, an 18-story residential building on Manhattan’s Upper West Side. Designed by COOKFOX and developed by Alchemy Properties, the project involved the restoration of a 1915 Palazzo-style building and construction of a new tower directly to the east. The development will yield 58 units in one- to six-bedroom layouts and a collection of penthouses, with sales and marketing led by Alchemy Properties and Compass. Leeding Builders Group is the general contractor for the property, which is located along West 78th Street between West End Avenue and Broadway.

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Demolition Nears Ground Level at 123 West 57th Street in Midtown, Manhattan

Demolition is moving along rapidly at 123 West 57th Street, the site of a 26-story commercial building on Billionaires’ Row in Midtown, Manhattan. Alchemy Properties and ABR Partners closed a $120 million deal to purchase the Midtown property from Calvary Baptist Church. ABR Partners’ equity partner, Cain International, had brought on Security Benefit Life as the new lender for the project, which will yield 185,000 square feet of office space and is estimated to cost $350 million. The property is located on a plot bound by West 57th Street to the south, West 58th Street to the north, Sixth Avenue to the east, and Seventh Avenue to the west.

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Demolition Begins at 123-141 West 57th Street for 26-Story Office Tower in Midtown, Manhattan

Demolition is underway at 123-141 West 57th Street, the site of a forthcoming 26-story, 185,000-square-foot office tower along Billionaires’ Row in Midtown, Manhattan. The site is located between Sixth and Seventh Avenues, surrounded by Christian de Portzamparc’s One57 and SHoP Architects‘ 111 West 57th Street. It was recently reported that Alchemy Properties and ABR Partners closed a $120 million deal to purchase the property, which was owned by Calvary Baptist Church and includes the adjacent 16-story, 153-foot-tall Salisbury Hotel. ABR Partner’s equity partner, Cain International, had brought on Security Benefit Life as the new lender. The total construction cost for the project is estimated to be roughly $350 million.

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378 West End Avenue’s Brick Façade Takes Shape on Manhattan’s Upper West Side

Exterior work is progressing on 378 West End Avenue, an 18-story residential development on Manhattan’s Upper West Side. Designed by COOKFOX and developed by Alchemy Properties, the project incorporates the restoration of the adjacent 1915 Palazzo-style building at the corner of West End Avenue and West 78th Street, and will yield 58 units with sales and marketing led by Alchemy Properties and Compass. Homes will be available in one- to six-bedroom spreads and a collection of penthouses, with prices ranging from $1,795,000 to nearly $10 million. Leeding Builders Group is the general contractor for 378 West End Avenue, which is located along West 78th Street between West End Avenue and Broadway.

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Rendering of 258-278 8th Avenue - Courtesy of JJ Operating

Lenders Confirm $183M Financing Package for 258-278 Eighth Avenue in Chelsea, Manhattan

Square Mile Capital and Pacific Western Bank are set to provide $183 million in construction financing for a 12-story mixed-use property at 258-278 Eighth Avenue in Chelsea, Manhattan. A new Target retail store will occupy 28,000 square feet of the building’s lower levels. Above these floors, the development will house 190 rental apartments and associated amenities.

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