The Pontiac Land Group of Singapore has joined forces with Hines and Goldman Sachs in the ownership of 53 W. 53rd Street, a luxurious residential condominium designed by French architect Jean Nouvel.
The construction of the condominium adjacent to the Museum of Modern Art (MoMA) is currently backed by the property developer’s SGD300 million, as well as SGD860 worth of funds by a group of Asian banks.
The 72-storey, 750,000 sq. ft. structure will house a total of 145 high-end residential units, as well as 36,000 sq. ft. of exhibition space spread over three floors in the lower levels.
Residents of the building will be able to enjoy a spectacular view of New York City and Central Park, a high-performance fitness facility, 75-foot lap pool and and full-time concierge service.
Construction is expected to begin mid-2014 and complete late-2018.
According to the South China Morning Post, Pontiac owned by the billionaire Kwee family is also looking to break into the China industry.
Photo: AFP
