Bashar Issa now owns the site of his proposed City Tower. Issa’s BSC Tower LLC purchased 85 Mohawk Street yesterday for an even $1 million. The parking lot at the northeast corner of S. Elmwood and W. Mohawk was purchased from Elmwood Mohawk Associates. Elmwood Mohawk has owned the property since 1996 when it was purchased from a former Statler owner for $850,000.
The proposed $360 million, 40+ story tower is a mixed-use development, consisting of street-level shops, a half million square feet of office space on the lower twenty floors, 300 hotels rooms on the middle floors, topped by 80 condo units on the upper ten floors priced from $500,000. 800 underground and structured parking spaces would be provided.
Construction is not expected until 2009 at the earliest.