300 Sixth Avenue

Opportunity to utilize historic tax credits and other incentives to redevelop a timeless, iconic, and irreplaceable property, acquired out of bankruptcy, at a substantial discount to ground-up new construction. Sponsor acquired the Property in September 2021, and has since executed a Guaranteed Maximum Price construction contract with a highly experienced and locally-based general contractor and closed on an attractive construction loan facility. Having mitigated many development risks, Sponsor is already well underway in its redevelopment of the project and expects to complete construction in late 2024.

Benzinga Money is a reader-supported publication. We may earn a commission from the advertisers. Read our Advertiser Discloser. The information contained herein is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities or ownership interests. Fractional ownership in real estate involves purchasing a percentage share of a property rather than owning the entire property outright. This type of investment carries risks, including but not limited to market volatility, lack of liquidity, and potential loss of capital.