Real Estate Roundup
RXR Realty has secured a $228 million loan package from Nuveen to refinance 530,000 SF of office space at 530 Fifth Avenue. The new debt will retire $200 million in previous acquisition debt provided by Morgan Stanley in 2014. It also includes an $18.8 million project loan.
The Chetrit Organization has secured $167 million in acquisition financing from LoanCore Capital to close on its $181.5 million purchase of One Whitehall Street. The FiDi office building spans 387,390 SF. (CO)
A $98 million financing package for two Manhattan hotels owned by Kuwait Finance House has fallen into default… The debt is secured by the 148-key Hampton Inn Manhattan Grand Central at 231 East 43rd Street, and the 135-key Holiday Inn Express Herald Square at 60 West 36th Street. (CO)
Cheskie Weisz’s CW Realty has acquired a Williamsburg assemblage from multiple sellers (primary one was Heatherwood Luxury Rentals) for around $39 million. The full blockfront site is situated on Hope Street between Keap and Rodney Streets. Weisz is planning to build a 145-unit rental building. (TRD)
Acadia Realty Trust continues to close on its $122 million worth of retail deals in Soho. (TRD)
After 15 years, dream mall finally becomes a reality… The development will eventually feature roughly 3 million SF of stores, water slides, a caviar bar and an indoor ski slope that promises man-made snow even in the height of a New Jersey summer. Triple Five Group is introducing American Dream in “chapters.” The first consists of an ice-skating rink and a Nickelodeon amusement park. (NYTimes)
WeWork’s Adam Neumann is the most talented grifter of our time. (Atlantic)