Sumitomo Mitsui provided the debt
Rockefeller Group has secured $202.5 million in construction financing from Sumitomo Mitsui Trust Bank for its residential condo project at 30-36 East 29th Street. Permits have already been approved for a 639-foot-tall tower, which will span 226,350 square feet, and consist of 123 condos.
Financing Details: The package consists of a $16.6 million senior mortgage, a $33.1 million project loan, and a $152.7 million building loan. This comes on the heels of Eyal Offer’s Global Holdings Group making a $52.5 million preferred equity investment.
Flashback: Rockefeller paid close to $100 million for the assemblage last year from Extell, Norman Weisfeld, and Michael Aryeh.