New luxury rental to break ground at Broadway and 77th Street
October 25, 2011 11:00AM William Friedland, principal at Friedland Properties, and a rendering of the Larstrand
A new 181-unit luxury rental building with a retail component will rise on Broadway and 77th Street thanks to a recently closed $125 million loan funded by the issuance of bonds provided by the New York State Housing Finance Agency, GlobeSt.com reported.
The building, slated to be called the Larstrand, will be developed by Friedland Properties and its representative Rose Associates. CVS has already agreed to lease part of the retail space.
Thirty-seven of the units at the Larstrand will be designated as affordable.
"The site is shovel ready, and we plan to begin construction immediately with completion scheduled for third-quarter 2013," said William Friedland, principal at Friedland Properties. [GlobeSt.com]
**Here is a drawing of the building