Phase 2 will include 568 units. The completed first phase has 639 apartments, bringing the total unit count to over 1,200 (PMG & Greybrook sold the first phase in 2021).
Rent by the bed will be offered in the second phase, as it was in the first. There will also be 1,625 square feet of ground floor retail, vast amenity spaces, and high-tech systems in units.
Brightline’s station is about a seven minute walk away.
John Moriarty is the contractor.
The $226 million construction loan for phase 2 was provided by Related Fund Management and Lubert-Adler. The transaction was led by PMG’s Capital Markets team, Andrew Warman, Jon Blank and Paton Marion in coordination with in-house counsels Lowell Plotkin, Lindsay Davis and Scott Buscemi. PMG was represented by Kramer Levin Naftalis & Frankel alongside Saul Ewing.