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TF Cornerstone lands refi for 606 West 57th Street

Building is named after the late Max Elghanayan

606 West 57th Street (Credit: TF Cornerstone)

TF Cornerstone has secured $484 million from the New York State Housing Finance Authority to refinance 606 West 57th Street. The luxury rental building spans 998,526 square feet, and contains 1,028 units (258 are affordable).

Financing details: The new financing replaces $380 million in construction debt provided by Wells Fargo, M&T Bank, and Helaba in 2014. The agency will issue $104 million in bonds in an unrated private placement underwritten by Wells FargoMunicipal Capital Strategies, according to CO.

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