Paramount Group provided the debt for the redevelopment
The Vanbarton Group has secured $141 million in financing from the Paramount Group for their redevelopment at 13-17 Laight Street. Plans call for the conversion of the former Tribeca Film Festival building into boutique offices.
Financing breakdown: The new debt replaces a $46 million acquisition loan provided by Blackstone Mortgage Trust in 2016, according to TRD.
Flashback: The firm paid $90 million for the 100,000 SF property two years ago.