Lend Lease In NYC

Market Insights
9 years ago
2 minutes

Victor Group (formally Victor Homes), a New York City-based development company founded by Moshe Shuster in 1994, today announced it has formed a joint venture with Lend Lease, one of the world’s largest real estate companies, to develop a residential project at 281 Fifth Avenue in Manhattan. 

Located on the southeast corner of Fifth Avenue and East 30th Street in the emerging residential neighborhood north of Madison Square Park known as NoMad, the partnership plans to construct a condominium building with retail at the base and luxury residences on the upper floors. 

281 Fifth Avenue offers an exceptional location along Fifth Avenue, which is recognized as one of Manhattan’s most prosperous districts for business and retailers. It’s located in the epicenter of fashion, technology, entertainment and residential living and in close proximity to Madison Square Park and multiple transportation options. 

“We are thrilled to be partnering with a major corporate player such Lend Lease on the development of 281 Fifth Avenue,” said Ran Korolik, executive vice president and partner of Victor Group. “We look forward to the opportunity to transform this unique site into a residential building that will exemplify refined living in NoMad, which is considered one of the most exciting and cutting-edge neighborhoods in Manhattan.”


Melissa Burch, Executive General Manager-Development, Lend Lease added, “We are excited about the joint venture of Lend Lease and Victor Group and the opportunity to create a signature building in this coveted Manhattan neighborhood. This fantastic site is located in the heart of NoMad, is surrounded by existing transportation links, world class amenities and has direct frontage on Fifth Avenue. Our vision at Lend Lease is to create the best places, and this project will allow us to do just that.”

Victor Group is currently working on a number of residential projects in prime locations within Manhattan including 239 Tenth Avenue, a planned 11-story condo building located on the corner of 24th Street near The High Line.