March 11, 2014
NEW YORK — March 11, 2014 — Hunton & Williams LLP represented New York-based luxury residential development firm Sumaida + Khurana in a recently closed $21,000,000 deal to acquire a site at 152 Elizabeth Street in New York City. Sumaida + Khurana have also announced plans to develop the site into an approximately 32,000-square-foot, iconic, ultra luxury condominium building. Featuring eight units, the building will be located at the corner of Kenmare and Elizabeth Street. Construction is expected to begin later this year and the building will be completed in 2016.
The developers have commissioned world-renowned Japanese master architect Tadao Ando to design the project. It will be his first residential condominium project in New York City. American Institute of Architecture award-winning architects Michael Gabellini and Kimberly Sheppard will collaborate on the building’s interiors and serve as the Architect of Record.
The Hunton & Williams team advising the developers is led by Carl F. Schwartz in New York and includes Sean P. Ducharme (Richmond), Laurie A. Grasso, Lori Philipson and Kevin A. Wakefield (New York).
Sumaida + Khurana, founded by Saif Sumaida and Amit Khurana, is a New York-based development firm focused on creating timeless benchmarks in premium real estate through a dedication to master architects, craftspeople and design.
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