A $79 million loan has been approved for a new residential building in Midtown Manhattan, set to feature 138 units and various amenities.
Manhattan: A new residential tower is taking shape at 250 West 49th Street. They just secured a hefty $79 million construction loan to keep things moving. This 28-story building will have 138 apartments and some cool retail space on the ground floor.
The design comes from C3D Architecture, and Chess Builders is behind the project. They’ve got some neat amenities planned too, like an art room, music room, and even a golf simulator. Plus, there’s a fitness center and an outdoor cinema for those chill summer nights.
Located right at the corner of Eighth Avenue and 49th Street, this place is set to benefit from a 35-year tax break under the 421-a program. They started tearing down the old eight-story building back in August 2022 to make way for this new development.
Getting around won’t be a hassle either, with the 49th Street subway station just a hop away, served by the N, R, and W trains. So, it looks like this spot is shaping up to be a great addition to the neighborhood!
