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Financing

Real Estate Roundup 1.6.2020

Brookfield Place (Credit: Brookfield)

Real Estate Roundup

Financing 

Stellar Management has secured an $85.5 million loan from Germany’s Landesbank Hessen-Thüringen Girozentale (AKA Helaba) to refinance 70 West 93rd Street. The Upper West Side apartment building features a newly built 15,000-square-foot street-level retail component. The five-year, interest-only loan refinances a previous debt provided by Capital One in 2016. Vornado maintains a 49.9 percent minority stake in the asset. (CO)

GFP Real Estate + King Street Properties + Carlyle Group have secured $156 million in financing from Acore Capital to build their new life sciences complex at 45-18 Court Square in Long Island City. The deal includes a mezz piece. Construction is underway on the property that will stand six stories and span 267,000 square feet. (TRD)

Loketch Group + Meral Property Group have secured a $50 million loan from S3 Capital to acquire and redevelop 10 Quincy Street and 26 Quincy Street in Brooklyn’s Clinton Hill. The short-term loan aims to carry the developers through the approximately 20-month construction process. (CO)

Clarion Partners + MHP Real Estate Services have secured a $372 million loan package from ING Capital to refinance a FiDi office building at 180 Maiden Lane. (TRD)

Leasing 

Public Clothing Company has signed a 12-year lease for 17,610 square feet on the entire seventh floor at 151 West 26th Street. Asking rent on the deal was $61 per square foot. (CO)

Politics

Plans to redevelop Hudson River Park’s Pier 40 are back to square one after Governor Andrew Cuomo vetoed a bill that would have transformed the space into a commercial hub. (CurbedNY)

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