Why This Joint Venture is Heading to The Village
- Feb 09, 2015
New York—New York-based real estate development and financial services company Greystone has acquired a major interest in the prime West Village location of 130 7th Avenue South. Condominiums approximately 2,500 square feet in size will grace the finished property. The project will be developed as a joint venture with Continental Ventures and Itzhaki Acquisitions.
“Greystone is continually seeking out opportunities to lead interesting development projects,” Greystone PR manager Karen Marotta told MHN.
“We have a previous relationship with Continental Ventures, and the opportunity to get involved with 130 7th Avenue South arose. We were particularly thrilled because it’s an exquisite location and the existing plans are fantastic. We also just completed the sale of a West Village development, a townhome at 79 Horatio, and really love the neighborhood overall.”
Situated between West 10th and Charles Streets in the Greenwich Village Historic District, the location gives residents great access to transportation as well as to popular West Village restaurants, retail venues and lifestyle brand outposts. The residences, situated above a full floor of retail space with 85 feet of frontage along 7th Avenue South, will offer private elevator entrances.
“We are thrilled for the opportunity to transform this unique property into a boutique collection of residences that will truly exemplify West Village living,” said Jeffrey Simpson, head of Greystone Property Development. “With the addition of prime retail space along 7th Avenue South, the new building and its residences will be the centerpiece of this rapidly developing corridor in Manhattan.”
Greystone has a reputation for developing real estate that takes every detail into consideration, from the placement of a handle or light fixture to strategic soundproofing and high-tech sounds and security systems, Marotta said. “The West Village neighborhood will see a fine addition to its residential housing stock as well as brand-new retail that will make the 7th Avenue South corridor even more attractive,” she continued.
Jane Gol, president of Continental Ventures, reported her organization is “excited about the joint venture of Continental Ventures, Greystone and Itzhaki Acquisitions, and the opportunity to create a building that will weave together the historic Greenwich Village neighborhood. This development will expand the unique high-quality character of residential and retail in the West Village.”