Deutsche Bank provided the debt
Harry Macklowe and Hamad bin Jassim (HBJ) have secured $750 million in construction financing from Deutsche Bank for their condo project at One Wall Street. Plans call for the conversion of the FiDi office building into 566 residential condos with retail at the base.
Financing Breakdown: The five-year loan has a rate of around 5 percent, according to TRD. It replaces a $460 million loan issued by Deutsche Bank on behalf of Qatar National Bank at the time of the acquisition. As a part of the new deal, HBJ provided an additional $100 million in equity.
Flashback: Macklowe paid $585 million for the property in 2014.