|Investment type: ||Property Transaction – Mixed-use development |
|Investment date: ||September 2005 |
|Acquired by: ||Onex Real Estate |
|Investment: ||$362 million / |
$317 million from Onex
|Phase One Substantially Realized, Phase Two in Progress |
|Value realized to date: ||$187 million / $163 million by Onex |
Located in Flushing, New York on 14 acres, Sky View Parc is one of the most highly anticipated mixed-use developments in New York City. The project is being developed in two phases and will ultimately consist of 1,200 condominium units constructed above approximately 785,000 square feet of retail space and a 2,500 space parking garage. Marquee retail tenants include Bed Bath & Beyond, BJ's Wholesale Club, Best Buy, Marshall's, Nordstrom Rack, Old Navy and Target.
In July and December 2015, Onex Real Estate Partners sold substantially all the retail space and adjoining parking structures of Sky View Parc. Onex Real Estate Partners continues to develop the second phase of condominiums at the project.