316 Eleventh Avenue

New York, NY

Development of a new, 369-unit luxury 80/20 residential rental building with 4,000 square feet of retail at grade and 28,000 square feet of parking located on two levels. The residential entrance will open upon a triple-height lobby space with an arcade that will connect the residential lobby with a retail gourmet café or restaurant. The second floor amenity space will include a lounge, fitness center, banquet room and an outdoor terrace.

Located in the recently established Special West Chelsea District, High Line Transfer Corridor development rights will be acquired to enable the project to obtain an Inclusionary Housing Bonus, thereby maximizing the FAR of the building. The project will be financed through the New York State Housing Finance Agency’s 80-20 Tax-Exempt Bond program.