According to The Real Deal, Crimson Real Estate Fund and USAA Real Estate Co., based out of Houston and San Antonio, respectively, have paid $50 million for a development site located at 546 West 44th Street.
The two companies are planning to develop close to 300 units of market-rate and affordable housing between 10th and 11th avenues at 546 West 44th Street.
This was revealed by USAA Real Estate last week.
"Plans include 80 percent market-rate units and 20 percent affordable units in the two-building development, and the companies intend to begin construction in the first quarter or 2014."
Pasha Group LLC is listed on the deed as the seller.
The two companies are planning to develop close to 300 units of market-rate and affordable housing between 10th and 11th avenues at 546 West 44th Street.
This was revealed by USAA Real Estate last week.
"Plans include 80 percent market-rate units and 20 percent affordable units in the two-building development, and the companies intend to begin construction in the first quarter or 2014."
Pasha Group LLC is listed on the deed as the seller.
