Victor Group and Lend Lease Team Up on Manhattan Condominium Building

By Andie Lowenstein, Associate Editor

New York–Victor Group announced Monday it paired up with Lend Lease to develop a residential project at 281 Fifth Ave. in Manhattan.

The property is located on the southeast corner of Fifth Avenue and East 30^th Street in the up-and-coming residential neighborhood north of Madison Square Park known as NoMad. The joint venture plans to develop a condominium building with retail at the base and luxury residences on the upper floors.

281 Fifth Avenue is conveniently located in one of Manhattan’s most thriving districts for business and retailers. It’s situated in the middle of fashion, technology, entertainment and residential living, as well as close proximity to Madison Square Park and numerous transportation options.

“We are thrilled to be partnering with a major corporate player such Lend Lease on the development of 281 Fifth Avenue,” said Ran Korolik, executive vice president and partner of Victor Group. “We look forward to the opportunity to transform this unique site into a residential building that will exemplify refined living in NoMad, which is considered one of the most exciting and cutting-edge neighborhoods in Manhattan.”

Melissa Burch, executive general manager-development at Lend Leas,e added, “We are excited about the joint venture of Lend Lease and Victor Group and the opportunity to create a signature building in this coveted Manhattan neighborhood. This fantastic site is located in the heart of NoMad, is surrounded by existing transportation links, world class amenities and has direct frontage on Fifth Avenue. Our vision at Lend Lease is to create the best places, and this project will allow us to do just that.”

Victor Group, founded by Moshe Shuster in 1994, is working on multiple residential projects in prime Manhattan locations including 239 Tenth Avenue, a planned 11-story condo building on the corner of 24^th Street near the High Line.