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Fetner Properties Closes on Upper West Side Mixed-Use
Fetner Properties closed on 270 W. 96th St., a 23-story mixed use building, which will bring a total of 171 market-rate and affordable apartments to Manhattan’s Upper West Side. Designed by SLCE Architects, it’s reportedly the neighborhood’s first new rental project in many years.
“This project is an excellent example of how public private partnerships can create much needed housing in Manhattan,” said Hal Fetner, president and CEO of Fetner Properties. “We are truly proud to have successfully taken 270 West 96 through the ULURP process despite challenges presented by the pandemic. ”
The City of New York sold 266 W. 96th, a former power transformer substation, in exchange for the creation of affordable housing. Fetner Properties combined this site with two privately owned parcels purchased from the Salvation Army and the NAACP Roy Wilkins Center.
Wells Fargo is providing the senior construction financing. The project budget is $125 million.
- ◦Development
- ◦Financing
