NEW YORK CITY — A partnership between Infinite Global Real Estate Partners and Buttonwood Development has purchased an office building in Midtown Manhattan with plans to implement a residential conversion. The partnership plans to transform the building at 29 W. 35th St., which was previously foreclosed upon, into a 107-unit apartment complex in which 75 percent (80) of the units will be rented at market rates. The remaining 27 units will be reserved as affordable housing. Residences will exclusively come in studio formats and will range in size from 400 to 575 square feet. Ismael Leyva Architects is designing the conversion, and Archstone is serving as the general contractor. Allegiant is the lender, and additional equity partners include 400 Capital Management LLC, L&L Holding (also the project manager) and Terracotta Management.
The office building at 29 W. 35th- St., which is set to undergo a residential conversion, features a rooftop amenity space, offering multiple seating areas, game tables and an outdoor movie screen for films and sporting events.
Partnership Buys Midtown Manhattan Office Building, Plans Residential Conversion
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