Chetrits, Yadidis Planning Garment District Skyscraper
Five years after completing their assemblage at West 37th Street and Sixth Avenue, the Chetrit and Yadidi families are moving ahead with plans for a mixed-use skyscraper at the site.
The developers and frequent partners intend to build a 370,000-square-foot, 69-story tower with 300 residential units on the parcel, which includes 100 West 37th Street and 993 Sixth Avenue, according to filings submitted last week. Damir Sehic of C3D Architecture is listed as the architect of record.
Isaac Chetrit and Ray Yadidi, who respectively run family firms AB & Sons and Sioni Group, had reportedly planned an up to 80-story tower on the Garment District site after acquiring the final piece in the assemblage in 2016. But a year later, the pair were quietly shopping the development parcel, fielding offers above $200 million.
Both families have remained active dealmakers during the pandemic.
In June, AB & Sons sold 546 Broadway to tenant Uniqlo after 40 years of ownership for between $160 and $200 million. Earlier this month, the Chetrit and Aini families secured $54 million in construction financing for their 28-story, 135,000-square-foot luxury residential project in Washington Heights.
In October, Sioni Group was in the process of selling 44 West 37th Street — a newly completed Midtown South office building — for $49 million. Last year, the Yadidis, along with Isaac and Eli Chetrit, sold an 18-story building at 15 West 47th Street for $110 million.
Neither Chetrit nor Sioni Group immediately responded to requests for comment.