Real estate private equity funds managed by affiliates of Ares Management Corp. and Douglaston Development have established a joint venture to develop 601 W. 29th St., a 931-unit luxury mixed-use residential development located at the intersection of Manhattan’s West Chelsea and Hudson Yards neighborhoods.
The joint venture also closed upon the acquisition of approximately 120,000 square feet of air rights from Hudson River Park, with the proceeds going toward funding significant park improvements in the neighborhood.
Spanning a full block on 11th Avenue between 29th and 30th streets, 601 W. 29th St. will rise 58 stories, providing residents with unobstructed views in all directions, ease of access to the cultural amenities of Hudson River Park and the Chelsea neighborhood, as well as direct access to the heart of Hudson Y
