Arden Group, a leading U.S. middle-market real estate fund manager,announced the topping out of 4650 Broadway, the newmixed-use building located in an Opportunity Zone within the Inwood section of Manhattan.
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Arden,along with Consigli Construction Co, Inc. (“Consigli”),who served as General Contractor on the project, hosted a specialTopping Out Ceremony on April 28thto recognize the installation of the building’s final beam, a significant construction milestone at the property. Arden’s Joseph Caruso, COO, and Justin Gardinier,Managing Director, along with Jason Halpert, General Super,Consigli,spoke at the event.
Designed by Handel Architects, the 19-story property spans 351,000 square feet, and will include 222 residential unitsin addition to approximately 120,000 square feet of commercial and retail space.The property will also featureView Smart Windowsthroughout the building,which automatically adjust in response to the sun to maximize natural light and outdoor views while minimizing heat and glarein addition to improving energy efficiency, as well as an expansive suite of amenities including fitness center, children’s play room, resident lounge and multiple outdoor terraces.
Construction on the building commencedin April 2022and Arden expects to welcome the building’s first residents in summer 2024.
“The topping out ceremony marks an important and exciting milestoneforthe 4650 Broadway property, and we look forward to the positive impact that the property will have on the local community,” said Craig A. Spencer, Chairman and CEO of Arden Group.“4650 Broadway will set new standards for the residential living experienceand building sustainability,and we thank all our partners on the project team for their collaboration, dedication, and passion.”
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“Consigli is grateful for the opportunity to partner with Arden Group to deliver this important project for the Inwood community,” adds Laura Bush, Consigli Director of Operations – NYC Metro Region. “Thisproject utilizes state-of-the-art technology and design, which will support efforts to deliver new, energy efficient housing development in the city.”
The 4650 Broadway development is located at the intersection of Sherman Avenue and Broadway in the Inwood section of Manhattan, directly across from Fort Tryon Park.
About Arden Group
Arden Group is a vertically integrated real estate investment management firm focused on equity and debt investments in the top 25 US markets. Founded in 1989, Arden has acquired approximately $7.5 billion of properties and asset managed in excess of $12.6 billion of commercial real estate assets. In 2012, Arden Group established Arden Fund Management, its real estate equity and debt fund management business with locations in Philadelphia, New York, Charlotte, Atlanta, Tampa, Houston, Dallas, Newport Beach, Los Angeles, and Columbus. For more information, visit www.ardengroup.com
About Consigli Construction Co., Inc.
Consigli Construction Co., Inc. is a leading construction manager in the Northeast and Mid-Atlantic. Consigli services clients across all markets, including academic, health care, life sciences, institutional, energy, corporate, and federal. Founded in 1905, Consigli is now an employee-owned (ESOP) company providing its people a direct benefit of its success and creating a culture of accountability. The company has offices in Massachusetts, New York, Washington, D.C., Maine, Connecticut, North Carolina and the Caribbean. Consigli has received numerous awards for its craftsmanship and employment practices, including being nationally recognized as a Forbes Best Employer. For more information, visit consigli.com, follow us on Twitter at @Consigli1905 and on LinkedIn at https://www.linkedin.com/company/consigli-construction/.