‘Limestone Jesus’ developer gets $322 million boost for New York skyscraper
A possible second coming to the downtown luxury condo tower dubbed the “Limestone Jesus” has secured a $322 million blessing to rise on the West Village waterfront.
The development team at the 570 Washington Street joint venture of Zeckendorf Development, Atlas Capital Group and The Baupost Group on Friday closed a $322 million financing package from Blackstone, which will launch the $1.25 billion+ luxury residential project of dollars.
Realty Check first reported on Zeckendorf-Atlas’ development plan on Feb. 7 (Baupost had yet to join the team). There was some skepticism at the time that it would go ahead, in part because although the developers had a contract to buy the land, the deal was yet to be done.
But it’s happening now – and there’s no turning back.
The Newmark duo of Dustin Stolly and Jordan Roeschlaub, co-heads of the Newmark Debt & Equity unit, organized the joint venture between the trio and arranged the financial package.
The lead developer is Zeckendorf, who built the famous celebrity-filled condo tower at 15 Central Park West. It has been dubbed the “limestone Jesus” for its hallowed reputation as the city’s best-selling luxury residence. Current and past residents include Goldman Sachs CEO Lloyd Blankfein, Robert De Niro, Denzel Washington and Alex Rodriguez.
The new downtown project will not necessarily look like it and may not even be in limestone. But comparisons are inevitable.
It will have two towers rising 450 feet overlooking the Hudson River on the empty 1.3 acre lot on the West Side Highway between Houston and Clarkson streets.
However, Robert AM Stern, who designed 15 CPWs, does not appear to be involved at 570 Washington, where the architectural firm COOKFOX is working on the design.