Mark Siffin Announces Major Projects in Urban Centers and Residential Neighborhoods
Tuesday, June 13, 2017 7:25 PM
New Projects on the Horizon for Mark Siffin's Maefield Development
NEW YORK, NY / ACCESSWIRE / June 13, 2017 / Mark Siffin, Chairman and CEO of Maefield Development, has unveiled plans for several new properties under development in urban centers across the country, including locations in New York and London, as well as residential and commercial projects throughout America's heartland.
- Times Square Gateway Center - This 345,000-square-foot property located in New York City's Times Square at 701 7th Avenue is a mixed-use structure including 220,000 square feet of retail and entertainment space, 20,000 square feet of state-of-the-art, LED signage, and a 30-story, 450-room Marriott Edition Hotel topping retail space. Mark Siffin tracked real estate in Times Square for a decade before moving in on the property, and Maefield Development began assemblage for the project in 2010, took full control in 2012, and began construction in 2014. Slated to be complete in 2017, the project will cost $1.1 billion and is projected to be worth $3 billion at completion. Leases have already been signed with Cirque de Soleil, Hershey's, and the National Football League (NFL), in addition to Marriott International. Maefield Development holds 50% ownership of the Times Square Gateway Center.
- The Plaza Hotel - The famous "Grande Dame" of New York City's 5th Avenue was in desperate need of restoration, and Maefield Development stepped in and took control of the property in 2016. This mixed-use property is a New York City icon, a fact that Mark Siffin and Maefield Development took into consideration when planning the $1.4 billion restoration project currently underway.
- The Grosvenor House - Mark Siffin has never shied from a challenge, and expanding overseas to renovate the historic Grosvenor House, a 650,000-square-foot property located on London's exclusive Park Lank in the Mayfair district, is right up his alley. When complete, the reimagined property will include reconfigured hotel common areas, rooftop residential penthouses, and high-end, ground floor retail space.
Indiana and Kansas
Mark Siffin founded Maefield Development with residential real estate development in mind, and later branched out into commercial investments. Returning to his roots, he has planned or is in the process of developing several residential and commercial projects in suburban areas in and around Noblesville, IN, Olathe, KS, and Gardner, KS.
About Maefield Development: Maefield Development is a privately-owned real estate development firm established in 1991 with founder Mark Siffin serving as Chairman and CEO. The company has successfully acquired, developed, and/or sold over 6 million square feet of property, including residential, retail, hospitality, and office space in both urban and suburban markets, with particular focus on redeveloping underperforming urban properties in iconic, city center locations like New York City's Times Square, L.A.'s Sunset Strip, San Francisco's Union Square, and Miami's Ocean Drive. Fully integrated services allow Maefield Development to see projects through from beginning to end, and the company currently has over $9 billion in properties either under development or in operation. For more information, please visit www.maefield.com.
Mark Siffin New York Developer
SOURCE: Maefield Development