Bonjour and Buttonwood team up for BPC purchase.Bonjour Capital and Buttonwood buttonwood: see plane tree. Real Estate have teamed up to purchase 333 Rector Place, a residential apartment building in Battery Park City. The 220,000 s/f property houses 228 apartments and approximately 16,000 s/f of retail space and underground parking. The companies estimate the total project costs to be approximately $170 million. The project represents the first joint venture between the two companies, who plan to initiate renovation work and upgrade the property to a Class-A luxury residential building. "We are ecstatic to be tapping into an asset in an undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and emerging market like Battery Park that we believe is underutilized," said Andrew Heiberger, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Buttonwood Real Estate. "Downtown has established itself as a premier residential market, and the exciting plans and continued growth will only solidify Battery Park as one of Manhattan's most sought-after neighborhoods." "Battery Park is a spectacular area with unrivaled value in today's market," said Charles Dayan Lieutenant Colonel Charles Dayan (July 8, 1792 Amsterdam, New York - December 25, 1877 Lowville, New York) was an American lawyer and politician who was a United States Representative from New York from 1831 to 1833. , chairman of Bonjour Capital. "The area represents urban planning at its finest, with waterfront living, protected views and an abundance of park space creating a residential identity unique to Manhattan. Our companies share a vision for both the area and the property that is very promising." 333 Rector Place is a 16-story building located in the prestigious southern section of Battery Park City. Over 75% of the building's spacious units contain terraces and balconies, with most featuring park and water exposure including spectacular views of the Hudson River, New York Harbor New York Harbor, a geographic term, refers collectively to the rivers, bays, and tidal estuaries near the mouth of the Hudson River in the vicinity of New York City. This is sometimes construed in the sense "the Ports of New York and New Jersey". and the Statute of GLOUCESTER, STATUTE OF. An English statute, passed 6 Edw. I., A. D., 1278; so called, because it was passed at Gloucester. There were other statutes made at Gloucester, which do not bear this name. See stat. 2 Rich. II. MARLEBRIDGE, STATUTE OF. Liberty. The building also houses an unrivaled roof deck and ground floor fitness center. "We have great plans to drastically improve the property, including high-end renovation work and unit combinations and reconfigurations," said Heiberger. "As we progress with these improvements, we will continue to assess the market and decide which direction to take the property." Bonjour Capital is a privately held real estate investment and development firm based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The company is an affiliate of the Bonjour Group, one of the largest brand licensing organizations in the world. Buttonwood Real Estate was started in 2005 by Andrew Heiberger, founder and former CEO of Citi Habitats, Inc. The company focuses on development, investment and syndication in the New York Metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. , with a focus on residential development. Buttonwood has recently launched Greenwich Club Residences, a 457-unit condominium conversion located at 88 Greenwich Street in Downtown Manhattan. |
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