325 Lexington Avenue

Location: Manhattan, NY

Size: 126,000 GSF

Units: 125

​

Matt Vroom, as Head of Development at Time Square Development, managed the development and sourced joint-venture equity, which was the firm’s first institutional partner, Carmel Partners. 325 Lexington is a completed 32-story luxury condo building with 2,500 square feet of retail space, attended lobby, fitness center, rooftop lounge and sweeping views of the Manhattan skyline. The project utilized both the purchase of off-site inclusionary housing certificates and 421a negotiable certificates that provided a 10-year real estate tax abatement.