Greenwich West Officially Breaks Ground: A Classic Luxury Loft Building Priced To Sell

NEW YORK, July 10, 2018 /PRNewswire/ -- A joint venture led by real estate investment firm Strategic Capital, along with its development partners, Cape Advisors and Forum Absolute, announced the groundbreaking of its highly anticipated New York City residential development, Greenwich West today. Greenwich West is located at 110 Charlton Street on the west side of Manhattan's artsy Soho neighborhood just steps from the West Village, in the thriving district known as Hudson Square. To officially celebrate the commencement of construction at the 30-story condominium building, an exclusive ceremony was held this morning and attended by Consul General of Chinese Consulate in New York Mr. Zhao Yumin and local officials. Sales of Greenwich West's 170 residences will begin this fall at prices starting under $1 million, a rarity for new development in Manhattan's desired downtown neighborhoods.

"Greenwich West signifies Strategic Capital's first luxury condo development in New York City and we are very proud to witness construction fully underway," said Phillip Gesue, Strategic Capital's Chief Development Officer. "We believe this building's outstanding value, classic loft design and quality construction by our affiliate Plaza Construction will resonate with a wide range of buyers both here in New York and internationally."

Greenwich West is designed by a team of acclaimed design-world visionaries including Parisian- based design architect Loci Anima and Paris-based interior designer Sebastien Segers Architecte. Both firms worked in close collaboration with architect of record Adamson Associates. Together the firms fused the early 20th century industrial context of the neighborhood with a classic French aesthetic. The results are comfortably chic condominium residences with outstanding views of the Hudson River. The project is being built by Plaza Construction, an affiliate of Strategic Capital and known to be one of the foremost builders of luxury residential projects in New York.

"This project presented us with a one-of-a-kind opportunity. It is situated in one of the few prime waterfront neighborhoods in Manhattan at the nexus of some of the city's most beloved areas," said Craig Wood, CEO of Cape Advisors. "We believe Greenwich West will provide a great value in today's market and we look forward to watching the building rise and progress towards completion."

Greenwich West will be a rare full service downtown building to include concierge, doorman and a full array of amenities. The building will feature gracious residences ranging from studio to three- bedroom homes, and be anchored by an intimate café retail space on the ground floor as well as on-site parking, a particularly exciting amenity for residents. At 290 feet tall, a hallmark of the tower will be its Manhattan skyline and water views, which extend up and down the Hudson River.

Situated at the cusp of Greenwich Village, the West Village, Soho, and Tribeca, Greenwich West offers endless discovery of history, culture, and creativity. Residents will benefit from the proximity to Hudson River Park, just steps away, and its incredible greenspace and waterfront access. A confluence of downtown amenities makes Greenwich West the ideal address for anyone exploring all lower Manhattan has to offer.

"Following a year of preconstruction efforts and working with world-class design-world collaborators, Plaza Construction takes the vision from concept to reality and begins construction of Greenwich West in a style reflective of European design to blend with the Soho Hudson Square neighborhood," says Christopher Mills, Executive Vice President, Plaza Construction. "We are recognized for our expertise in luxury condominium building in New York City and are confident that this project will be a standout in our portfolio of work."

Greenwich West's ground breaking coincides with the launch of the development's innovative marketing campaign featuring the acclaimed work of the New York city-based fine artist Aaron Zulpo, known throughout the art world for his narrative paintings of city life. Zulpo has been commissioned to create a series of works that tell the story of life at Greenwich West in his signature dramatic style. The first painting debuts with the launch of the website, where interested parties can also register for the property's friends and family opening later this year.

Sales at Greenwich West are slated to begin in fall 2018, with first closings expected to commence in early 2020. Corcoran Sunshine Marketing Group is the exclusive sales and marketing agent for the condominium. For more information please visit www.greenwichwest.com.

About Strategic Capital

Strategic Capital is the US-based development and investment business of China Construction America which is a subsidiary of CSCEC, the world's largest investment and construction company and number 24 of the Global Fortune 500 companies. Strategic Capital focuses on investment opportunities in real estate and infrastructure across the Americas and has been in operation in the United States since 1985 through its affiliates. Learn more: https://www.strategiccapital.us/

About Forum Absolute Capital Partners

Forum Absolute Capital Partners ("FACP") is a privately owned, opportunistic real estate investment platform with a strong focus on the development and/or re-development of residential and commercial properties in New York City. FACP invests alongside qualified, best in class developers and participates in the development of the strategic and creative vision for the projects. Since its inception in 2012, FACP has invested approximately $400 million of equity in eight development projects in New York City.

About Cape Advisors

Cape Advisors was formed in 1995 as a real estate development, investment and management company with projects located principally in New York and New Jersey. Since its inception, Cape has developed over $2 billion in residential, hotel, retail and office projects, as well as designed, opened and operated numerous restaurants, bars, spas and retail venues. Cape Advisors' affiliates manage many of the firm's residential, hotel, resort and hospitality projects, with core competencies that include a strong service culture and a focus on creating unique experiences that delight residents and guests and create long term loyalty. Cape's projects set themselves apart from the ordinary with an attention to detail, context and place, exciting design and high-quality execution. For more information visit www.capeadvisors.com.

About Plaza Construction

Plaza Construction is one of the nation's leading construction management and general contracting companies. The firm has played a notable role in building corporate headquarters, commercial properties, healthcare centers, universities, infrastructure, transportation facilities, museums, retail spaces, hospitality, and residential buildings. Since its incorporation in 1986, the firm has grown from a regional organization to a multi-faceted, national presence in the industry with headquarters in New York and regional offices in Miami, Tampa, and Washington, DC. To learn more visit: www.plazaconstruction.com.

About Corcoran Sunshine

With over 30 years of experience in marketing and collective sales of $40 billion, Corcoran Sunshine Marketing Group is a recognized industry leader in the planning, design, marketing, and sale of luxury residential development. Representing properties throughout the United States and in select international locations, Corcoran Sunshine Marketing Group's portfolio contains a curated collection of the world's most desirable new addresses. Corcoran Sunshine Marketing Group is the new development arm of The Corcoran Group which is part of NRT LLC, the nation's leading residential real estate brokerage company and a subsidiary of Realogy Holdings Corp. that operates Realogy's company-owned real estate brokerage offices.

SOURCE Strategic Capital, Cape Advisors, Forum Absolute Capital Partners