Project Workspace · Live

1400 Broadway · Vertical Addition

New York, NY · PRJ-AIREX-0421 · 148,000 sf air rights build
Stage: Municipal Review On schedule 62% complete
Q4 2028
Target CO
$186M
Approved budget
24
Organizations
62%
Milestones complete
Milestones
MIH pre-application filed
Aug 12
Municipal Review complete
Sep 30
Community engagement window
Nov 14
Building permit issued
Jan 22
Construction start
Mar 04
Certificate of Occupancy
Q4 2028
Budget · sources & uses
Sources
Sponsor equity$59.5M
Senior debt$89.3M
OZ equity$26.0M
MIH grant$11.2M
Uses
Hard costs$115.3M
Air rights$41.2M
Soft costs$18.6M
Contingency$11.2M
Risk register
Historic adjacency (51 W 40th)
Potential LPC comment period
High
Mitigation · Contingency clause + pre-consult
Steel escalation
6.2% forward curve
Medium
Mitigation · Locked purchase order Q1
TDR recording delay
ZLDA execution dependency
Medium
Mitigation · Counsel escalation plan
Sidewalk shed permit
Standard 30-day
Low
Mitigation · Filed in advance
Informational only. Project data is illustrative. Development decisions require licensed architects, engineers, counsel and municipal review.