25 North Lex Update 04/28/23

500 Unit Rental Project Tops Out in White Plains

Developer and property manager, , recently held a held ceremony to celebrate the topping out of its latest and greatest New York City metro area project; a 25-story residential tower, located at 25 Lexington Avenue in White Plains, New York.

Known as, "25 North Lex" (although originally referred to as Gateway II in the planning phase), this mammoth structure consists of a larger 25-story tower, and a smaller, 16-story rise, connected by a 4-story podium. Having only started site work back in January 2022, the general contractor, , has impressively managed to construct both the foundation and the entire skeleton in just a bit over a year.

The building is set to contain luxury rental apartments, offered in studio, one, two, and three-bedroom configurations.

In addition to residential units, it will feature roughly 60,000 square feet of tenant amenities. The extensive list of perks includes a fitness center with a golf simulator and a yoga studio, a resident lounge, private dining accommodations, meeting and study rooms, a pet spa and dog park, a children's playroom, and a landscaped sky lounge, featuring an outdoor lap pool, BBQ stations, fire pits, gazebo seating areas, and a community garden.

Plans also call for square feet of ground-floor retail space, and a large, enclosed parking garage, located inside the podium, with enough room for vehicles.

Designed by , 25 North Lex stands feet tall and sits on a project site, spanning over 3.5 acres. The project is expected to cost $275 million, and is being funded by the Alaska Permanent Fund; an entity that invests capital which has been generated by Alaska’s oil industry. With the superstructure complete, we should start to see facade installation ramp up in the coming weeks. Ultimately, work is expected to complete sometime in mid-2024.

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