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Mitsubishi Estate units plan condominium tower in NYC

Japanese developer Mitsubishi Estate Co. Ltd. units Rockefeller Group and Mitsubishi Estate New York submitted plans for the development of an over 100-unit condominium building in the NoMad neighborhood of Manhattan, N.Y., The Real Deal reported.

The 46-story, 123-condo building at 30 E. 29th St. will be built on a site totaling about 170,000 square feet and stand nearly 600 feet tall, according to the Feb. 1 report that cited documents filed with the city's Department of Buildings.

With debt from Mitsubishi Estate New York, Rockefeller spent $98.7 million in 2017 to acquire five parcels on E. 29th St. along with additional development rights from Extell Development, the W Brothers and the 29th Street Partners LLC. Mitsubishi Estate New York's funding was converted into an equity stake in the project, whereby the unit has a 75% holding for which it paid $85 million.