Square Mile Capital provided the debt
Delancey Street Associates has secured a $260 million acquisition and construction loan for 202 Broome Street from Square Mile Capital. The property will become the seventh of nine separate sites that make up the Essex Crossing development, according to CO who first reported the news.
Worth Noting: Delancey Street Associates have now secured a total of $1.3 billion in financing for the project. The Delancey partnership consists of BFC Partners + L+M Development + Taconic Investment Partners + Goldman Sachs.
Sound Smart: The $1.5 billion project will have over 1,000 units, 450,000 SF of retail space, and 350,000 SF of office space. Although political headaches have been linked to the six-acre site since 1967, the project is expected to wrap up in 2021.