Gemdale Properties, Toll Brothers Enter JV To Build Luxury Condos In Gramercy Park
Luxury developer Toll Brothers and Gemdale Properties and Investments—an affiliate of China’s largest real estate developer Gemdale Corp—have entered a joint venture to co-develop luxury condos in Manhattan’s Gramercy Park.
The condominiums at 121 East 22nd St will be designed by the Office for Metropolitan Architecture and will consist of two-towers and 133-units spanning East 22nd to East 23rd streets. The site will be near Midtown Manhattan’s business center and a short distance from Madison Square Park and Union Park, according to the release.