Japan’s Daiwa House, Australia’s Lendlease to develop $ 374 million high-rise project in New York

16, Jul. 2020

Photo by Kai Pilger from Pexels
Photo by Kai Pilger from Pexels

SYDNEY, NNA - Japanese property developer Daiwa House Industry Co. has unveiled the plan for the 40 billion yen ($374 million) 41-story mixed-use academic and condominium project it is jointly developing in New York City.

Daiwa House will join a U.S. subsidiary of Australian developer Lendlease Corp. and New York City-based developer L+M Development Partners Inc. to develop the 100 Claremont Avenue project in the Morningside Heights area of Manhattan.

Construction began earlier this month and is scheduled to be completed in March 2023. Daiwa House will launch sales in August 2021, it said in a press release on Wednesday.

The building will offer 165 units for sale and will also include educational facilities and faculty housing for Union Theological Seminary.

Daiwa House will carry out the project through its U.S. subsidiary Daiwa House Texas Inc.

This project is the first partnership between Daiwa House and Lendlease.

The two companies are planning to build another apartment building project in Manhattan but they have not decided on details, Daiwa House spokesman Kai Sano told NNA.

The two companies hope to further collaborate if they find promising projects around the world, including Australia, Sano said.

An Image of the 100 Claremont Avenue project (far right, Image courtesy of Daiwa House Industry)
An Image of the 100 Claremont Avenue project (far right, Image courtesy of Daiwa House Industry)