By
Joseph Richter
Related has closed on its acquisition of 517 West 35th Street from HLM Realty for $96 million. The lot allows for the development of 234,000 SF, and will be part of the 1.4 million SF mixed-use project that Related is developing with Spitzer Enterprises.
Some things are worth waiting for… The firm signed a contract to buy the Far West Side lot in August 2013.
Acquisition Financing: Mack Real Estate Credit Strategies provided the developer with a $65 million loan.