The rumors are true: Toll Brothers and Equity Residential are partnering for a new building at 400 Park Avenue South, the Journal reveals, on the spot where we once hoped to see the Christian de Portzamparc-designed Fortress of Glassitude. Like that tower, the Toll/Equity project?the two companies just closed on the lot for $134 million?will have 40 stories, but this one will be a mix of condos and rentals. Equity will control the bottom 22 floors, with 265 luxury rentals and the building's retail space. Toll Brothers will add 100 luxury condos on the upper floors. No word yet on pricing, timing, or design, but?hint, hint?the tipline is open.
· Toll Bros. and Equity Joining Forces [WSJ]
· Toll Brothers Taking Over the Fortress of Glassitude? [Curbed]
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