Toll Brothers announced the formation last month, of a joint venture between its Toll Brothers City Living division and SMI USA, a subsidiary of the Shanghai Municipal Investment Group Corporation, to develop 91 Leonard Street, a 19-story, 111-residence luxury condominium project in the Tribeca neighborhood of Manhattan in New York City.
The joint venture has secured a construction loan from a syndicate of banks including MUFG Union Bank, N.A. as Agent, CIT Bank, N.A. and Santander Bank, N.A. 91 Leonard is located in Manhattan’s fashionable Tribeca neighborhood, just a short walk to SoHo, City Hall, the Financial District, the Hudson River waterfront and Hudson River Park. Designed by Skidmore Owings & Merrill (SOM) and Hill West, it offers residences ranging from studios to four bedrooms with nearly floor-to-ceilings windows, and tall ceiling heights. Amenities include an indoor pool, steam and sauna rooms, a fitness center, a children’s playroom, a rooftop terrace with outdoor fireplace, and a screening room. Residents will enjoy a ground floor lounge looking out on the building’s private garden and reflecting pool. Douglas C. Yearley, chief executive officer of Toll Brothers, stated: “We are pleased to partner with SMI USA to develop this exciting project. The quality of the building and its premier location give us confidence that 91 Leonard will carry on a fifteen-year tradition of fine Toll Brothers City Living projects in New York City.” Tom Tao, President of SMI USA, stated: “With Toll Brothers’ great brand, reputation and track record, we very much look forward to collaborating with them on this project and see it as the first step in a long and successful relationship.” Reported by GlobeNewswire (Nov. 3, 2017) For complete information on Toll Brothers including all corporate, regional and division offices and top personnel refer to The National Builders Directory and Online Database.
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