Case Study

688 Broadway, Manhattan, NY

Investment Type: Ground-Up Development
Property Description: Residential Condominiums / Ground Floor Retail
Investment Amount: Undisclosed

In June 2011, an MRC affiliate acquired a controlling interest in 688 Broadway. The 54x130 foot lot was occupied by a flea market tenant until the tenant vacated in May 2014.

In August 2013, the project received unanimous approval from the Landmarks Preservation Commission.

In February 2014, the project received City Planning approval for a special use permit allowing for the development of 45,000 square feet comprised of 14 luxury residential condominium units with ground floor retail.