\
 

THE SEABORNE, Manhattan, NY

 

Proposed ground-up development ("The Seaborne") of a 40 story, 250,000 sq. ft. mixed-use tower, consisting of 175 residential units, a Five Star hotel and prime retail space. The site directly faces the East River and the East River Waterfront Esplanade.

The Property which is located at 151-161 Maiden Lane, in the Financial District (FiDi) of Lower Manhattan (two blocks north of Wall Street and two blocks south of the South Street Seaport historic district), consists of an 11,539 sq. ft. lot occupying an entire city block, bordered by Fletcher Street on the north, South Street on the east, Maiden Lane on the south and Front Street on the west.

JFA (architects), Thornton Tomasetti  (structural engineers) and Langan Engineering (geotechnical and environmental engineers) have been engaged during the pre-development due-diligence and conceptual design application process. 

The complex acquisition transaction (assignment of notes, property & air rights deed transfers and private equity raising) was negotiated, structured and completed within 30 days from inception, by Vassilios - Bill - Kefalas, the principal/founder of Kay Development and developer of the project.  

The property was sold in 2013 for $64 million, more than twice its acquisition cost.

 

 

 
 
 
 
 

KAY Development Group ©