LONG ISLAND CITY, N.Y. -- KSW Inc., a leader in the HVAC business through its subsidiary KSW Mechanical Services Inc., in June announced a contract on a new Related Properties project valued at $32 million. This contract brings KSW’s backlog as of June 30, 2008, to $138 million.
The 42nd Street Westside project in Manhattan consists of a hotel as well as 58-stories of condominium and rental units. This is the fourth collaboration between KSW and Related Properties, and construction has already begun under the management of Plaza Construction Corp. KSW anticipates its role in the project to begin in the third quarter of 2008 and will realize revenues on a monthly basis once it has commenced work.
KSW Chairman Floyd Warkol said, “We are very pleased to have been awarded this prestigious contract from our friends at Related. This is the fourth and largest project which we will be working on concurrently with Related Properties. For the past six months, we have worked with Plaza Construction, Related Properties, and their design professionals throughout the design development, to suggest value engineering and energy saving alternatives. Related will incorporate energy conservation features in order to obtain LEED Silver status, a certification of a building’s energy efficiency.”
KSW’s other work with Related Properties includes luxury condominium projects The Brompton, on the Upper East Side of Manhattan; The Harrison, an Upper West side condo; and Superior Ink in Chelsea.
This project brings the total value of projects awarded to KSW this year to approximately $70 million.
The Related Cos. is one of the premier developers of luxury rental apartments in the U.S. today. Over the past decade, the company has introduced more than a dozen new residential buildings in New York City's most desirable neighborhoods from Tribeca, Chelsea, Battery Park City, Midtown and Union Square to the Upper East Side and Upper West Side. With each new building, Related has been hailed for setting new standards of excellence in the luxury rental marketplace. To ensure that every resident in every Related building enjoys the finest services, unsurpassed amenities, and a luxury lifestyle, The Related Cos. manages every building it owns.
KSW Inc., through its wholly-owned subsidiary KSW Mechanical Services Inc., furnishes and installs HVAC systems and process piping systems for institutional, industrial, commercial, high-rise residential and public works projects. KSW Mechanical Services Inc. also acts as trade manager on larger construction projects, such as New York Presbyterian Cardiovascular Center, and the Mount Sinai Center for Science and Medicine where the company is currently performing pre-construction services. Additional information is available at www.kswmechanical.com.