Joint Venture Acquires, Breaks Ground on 21 West End Ave.

NEW YORK—The Dermot Co. Inc. along with partner AFL-CIO Building Investment Trust (BIT) have acquired and broken ground on 21 West End Ave. Once completed, the property will stand 43 stories tall and be LEED-certified.

Being constructed under the New York State Housing Finance Agency’s 80/20 Program, the completed property will have 616 units of which 489 units will be market-rate and 127 units will be low-income units with a mixture of studio, one-bedroom, two-bedroom and three-bedroom apartments.

In addition, 21 West End Ave. will include a four-story, 112,440-sq.-ft. public school and 23,725 sq. ft. of retail space.

More than 30,000 sq. ft. of amenities are planned and include a pool, hot tub, 21,000-sq.-ft. fitness center, yoga and dance rooms, wine bar, play area, dog-grooming area and more.

Apartments will include floor-to-ceiling windows, washers and dryers, walk-in closets, hardwood flooring and stainless-steel appliances.

Construction is slated for completion by June 2015. The building will be the first of five planned buildings in the Riverside Center Master Development plan, which was approved in 2010.

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