| Investment type: |
Property Transaction – Mixed-use development |
| Investment date: |
September 2005 |
| Acquired by: |
Onex Real Estate |
| Investment: |
US$103 million /
US$91 million from Onex |
| Status: |
Under Construction |
Located in Flushing, Queens on 14 acres, Sky View Parc is one of the most highly anticipated mixed-use developments in New York City. Phase One of the development consists of 448 luxury condominiums with numerous amenities including a four-acre rooftop park, approximately 800,000 square feet of retail space including 30,000 square feet of dining establishments and a 2,000-space parking structure. Marquee retail tenants will include Bed Bath & Beyond, Marshall's, Old Navy, Target and Sky Foods. BJ's and Best Buy have already taken occupancy. Initial condominium closings are expected to begin in June of 2010. The commencement of Phase Two, which will include an additional 654 condominiums and 400 parking spaces, will be driven by market demand.