The development of the former Coliseum site, at the southwest corner of Central Park features a combination of distinct urban land use elements to create mixed-use development. Each element of this mixed land use fits together offering New York City and the world a unique place to live, work, shop and be entertained," said Stephen M. Ross, chairman and CEO of The Related Companies, L.P., one of the development partners.
The $1.7 billion project, called Time Warner Center, was developed by Columbus Centre LLC, The partnership consists of The Related Companies, L.P. and Apollo Real Estate Advisors, L.P.
GMAC Commercial Mortgage provided financing for the project. The $1.3 billion loan was the largest loan ever made for a private development project in the United States.
The 2.8 million square foot development combines:
Time Warner World Headquarters which include office and studio space of 865,000 square feet for the world's largest media company, with state-of-the-art digital production and broadcast facilities for live transmission of CNN and CNNfn.
The Shops at Columbus Circle, a retail venue of 347,000 leasable square feet consisting of shops, restaurants, entertainment uses and public spaces.
The Residences consist of 191 luxury condominiums offering views of Central Park and high levels of amenities and services.
One Central Park condominiums and The Residences at the Mandarin Oriental, New York. 201 luxury condominiums. Location, design, services and amenities, views of Central Park, the Hudson River and the city skyline.
Mandarin Oriental, New York consisting of 251 guestrooms and meeting room facilities. The hotel has banquet facilities and public spaces with views of Central Park.
Jazz at Lincoln Center, which houses the first and only performance spaces in the world, created specifically for jazz performances. The spaces include 3 main performance venues totaling 1,970 seats, recording studios and classroom space.
Class A office space of 211,000 square feet rentable square feet, offers views of Central Park and advanced mechanical and technological amenities and services. The corporate offices of the development partners, The Related Companies L.P., and Apollo Real Estate Advisors, L.P. are located in the space, in addition to providing rental space for other corporate tenants.
Parking to accommodate 504 cars with 24 hour valet service available in three below grade levels.
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TEXT CREDIT: Press Releases- Newsroom - Time Warner
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