1274

BUSINESS NEWS LANDSEA HOMES AND DNA DEVELOPMENT CLOSE ON ACQUISITION OF PRIME MANHATTAN DEVELOPMENT SITE IN FLATIRON Landsea Homes in partnership with DNA Development LLC, a privately held real estate investment and development company, has announced the closing of a $97 million senior and mezzanine loan for its acquisition and development of 540 Sixth Avenue in Manhattan. An affiliate of Mack Real Estate Credit Strategies provided the loan, which was arranged by Patrick Hanlon, Sean Meehan and Ross Cumming of Ackman-Ziff Real Estate Group LLC. “Landsea Homes is excited to announce the closing of another major deal in Manhattan, reaffirming our confidence in the New York City market,” said Thomas Graham, president of the New York Metro Division at Landsea Homes. “This is precisely the type of deal we are looking for in New York City and we are pleased to partner with DNA Development, on this prime corner site in an incredible location close to numerous transportation options, parks, retail, restaurants and cultural institutions.”

540 Sixth Avenue is located on the northeast corner of 14th Street and 6th Avenue at the nexus of three thriving downtown submarkets, Flatiron, Chelsea, and Greenwich Village. Landsea Homes and DNA Development LLC acquired the site from Extell Development, which had purchased the four adjacent commercial buildings on 6th Avenue in 2015. The developers are planning to build a luxury residential building with ground floor retail. “We are thrilled to mark this important milestone and announce our strategic partnership with Landsea Homes to develop a best-in-class property in this sought-after submarket at the crossroads of downtown,” said Alexander Sachs, partner at DNA Development LLC. “With our collective market insight and shared commitment to quality and sustainable building practices, we look forward to delivering a sophisticated product at this corner location.” Landsea Homes develops residences and communities throughout the country, including New York, Boston, Weehawken, Northern and Southern California, and Arizona, which

reflect modern living while fitting the diverse needs and desires of today’s homebuyer. The firm recently announced its first ground-up development in Manhattan. The new luxury condominium, located at 212 West 93rd Street with architecture by ODA ’s Eran Chen, will seamlessly blend 20 homes, many of which will include outdoor space, above a new 9,350-square-foot synagogue. Active throughout Manhattan and Brooklyn, DNA Development is also developing a condominium on the Upper West Side at 350 West 71st Street. The firm is combining two historic buildings in a landmarked district on a classic townhouse cul-de-sac block, to create a brand new residential offering designed by DXA Studio with 38 contemporary homes and luxury lifestyle amenities. DNA Development’s current work also includes the development of a new 30,000-square- foot mixed-use commercial glass jewel box property just off Fifth Avenue at 12 West 48th Street between Rockefeller Plaza and Fifth Avenue. The project is nearing completion this year and was designed by Ennead Architects .

BERNIE SIBEN, from page 9

– you might find yourself long on backlog and short on project managers, which is not a bad position in which to find yourself. When I started in this business 40 years ago, we rewarded technical folks for good work, or a good sale, by promoting them to project management, even if they had no related managerial skills. And there wasn’t much project management training to be had unless a firm had an in- house “university” (like Freese and Nichols). The general philosophy at the time was, “Win the work; then we’ll find the people to do the work!” “If your firm has the right attitude about great customer service, they will use PMP certification as a jump-off point for additional training, and help their project managers reach levels of excellence that will put their firms – and keep their firms – ‘top of mind.’” Today, not only is there a wealth of training for project managers, but professional certification (project management professional, or PMP) is also available. If your firm has the right attitude about great customer service, they will use PMP certification as a jump-off point for additional training, and help their project managers reach levels of excellence that will put their firms – and keep their firms – “top of mind.” BERNIE SIBEN, CPSM, is director, marketing and business development at Chaparral Professional Land Surveying, Inc. in Austin, TX. Contact him at bernie@chapsurvey.com or at 559.901.9596.

Why? Because XYZ Engineering’s superior project management skills have enabled the firm to achieve a long history of running projects smoothly; so smoothly, in fact, that the bumps are never felt in their clients’ offices – or their homes, for that matter. Because of this experience history, their project managers know how to recognize a broad range of challenges before they become real problems. XYZ Engineering’s clients know that when they call on the firm to manage a project, it will be completed successfully even if it’s outside XYZ’s sphere of technical expertise. Their clients are confident that XYZ will find the right firms to make up a world-class team that can turn in a first-rate project. And because of this reputation, subconsultants rarely turn down an opportunity to join an XYZ team when they are called, because they know they will be treated like an integral member of the team, that their work will be recognized for quality and on-time delivery, as well as for the level of cooperation they put into the effort. The proof of this is the fact that I once wrote a proposal for XYZ Engineering that included a calculation of the number of projects each proposed subconsultant firm had worked on with XYZ. One of those subconsultants had worked on more than 50 projects the firm, and still looked for opportunities to further the relationship. In addition to being selected by clients because of your firm’s technical credentials, there are direct benefits to developing superior management skills. If a demonstration of your abilities can get your firm selected for overall project management rolls – or program management rolls

THE ZWEIG LETTER December 3, 2018, ISSUE 1274

Made with FlippingBook Annual report