Business Services Industry
15-story midtown residence
Real Estate Weekly, March 20, 2002
Legg Mason Real Estate Services announced the closing of an equity commitment from the AFLCIO Building Investment Trust for the development of a 259-unit apartment building in Midtown Manhattan.
Kathleen M. Hands, director of equity portfolio management for LMRES' investment advisory group, advised Mercantile-Safe Deposit & Trust Company, acting as Trustee to the BIT with regard to this transaction.
The 15-story project, being developed by The Dermot Company is located at the southwest corner of Ninth Avenue and 37th Street. The project will include 5,000 SF of ground level retail and valet parking for 160 cars. Additional amenities will include a doorman, concierge services, exercise facilities, 24-hour surveillance, and high speed telecommunication access.
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