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MAG Partners Tops Out Two NYC Resi Towers
MAG Partners has reached a milestone with the topping out of two new Manhattan residential towers, a significant step towards addressing New York City’s housing needs. The company, founded by CEO MaryAnne Gilmartin, is delivering nearly 400 units of mixed-income housing across these two properties.
One of the projects, located at 300 East 50th Street in Midtown, is a $200 million development in partnership with Global Holdings and Safanad. This 23-story building will offer 194 units and 4,888 square feet of retail space, with 30% of the units designated as affordable under the Affordable NY program.
The second project, at 335 Eighth Avenue in Chelsea, is a 190-unit development in collaboration with Safanad and MetLife Investment Management. This project includes a 23,000-square-foot Lidl grocery store and aims for Passive House and LEED Gold certifications, with 30% of the units reserved for low- and middle-income residents.
- ◦Development
