The 2020 Power 100
Commercial Observer | July 28, 2020
Joseph Moinian’s Moinian Group closed out 2019 on a novel note, teeing up what turned out to be a significant 2020 so far. The firm opened the luxury apartment building dubbed PLG at 123 Linden Boulevard in Brooklyn’s Prospect Lefferts Gardens—the Manhattan-based firm’s first project in the borough and its first from the lending side via its Moinian Capital Partners. The coronavirus pandemic has not gotten in the way of it, apparently.
“It has been leasing up faster than we originally anticipated, with most deals completed virtually,” Moinian said over email.
This year has seen more box-checking for his privately held company despite the uncertainty. These included a trio of milestones along 11th Avenue: a new design for the nearly 1,000-foot-tall, 1.85-million-square-foot 3 Hudson Boulevard office building, which Moinian is developing with Boston Properties; the groundbreaking for the 10-story, 200,000-square-foot Hudson Arts Building at 220 11th Avenue, a chic office property; and a $103 million refinancing deal for its Oskar luxury apartment building at 572 11th Avenue.
“The Hudson Arts Building will attract some of the best companies in the world. 'Quality of life’ used to be the mantra, and now it’s ‘quality of work,’” said Mitchell Moinian.