5R - Commercial Space
5 Rector Greenwich Development
5 Rector Greenwich Development is a major development with special air right (600,000sf.) made total buildable price reduced to $300k + per sqft. It’s 5 lot plus air rights, total over 1.3 million sqft to build. Total construction area shall be less than 120,000 square meter, in which: condo 50,000 square meter; apartment 30,000 square meter; hotel 23,000 square meter; and other school and commercial related property. Total project land cost is less than 420 million USD. Land acquisition of the five parcels is $320 million USD. Air rights acquisition is $110 million USD.