Brookfield Property Partners and the Qatar Investment Authority have secured a $479 million loan from Bank of China to refinance the residential portion of 3 Manhattan West (AKA 435 West 31st Street). The deal includes $33 million in new debt, according to TRD.
- Dig Deeper: The 62-story tower contains 844 apartments (169 are affordable). Rents for the free-market units range from $3,431 for a studio to $9,045 for a two-bedroom. The building is popular with Chinese students.
- Worth Noting: The retail portion is occupied by a Bluestone Lane cafe, but only the residential component was included in the deal.