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Old Posted Jul 17, 2015, 3:41 AM
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Hypothalamus Hypothalamus is offline
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Smile NEW YORK | 222 E 44th St (Summit)| 556 FT | 42 FLOORS

Greystone Bassuk Closes $254M Bank of China Loan Facility for 222 East 44th Street

BY DANIELLE BALBI JULY 16, 2015, 3:50 P.M.

New York-based BLDG Management Company landed a rare, long-term financing for the development of an 80/20 property at 222 East 44th Street, in a deal brokered by The Greystone Bassuk Group, several sources told Commercial Observer.

Bank of China provided a 10-year, $254 million construction-to-permanent loan facility for the Midtown East multifamily development, which extends a full block between Second and Third Avenues, according to the brokers and sponsor.

The site will house a 43-story apartment tower with a multilevel parking garage and ground-floor retail space once the building is completed in 2017. The property, which is being financed under the 80/20 Housing Program, will contain 342 residential units at market-rate rent and 87 affordable units for households earning 60 percent of the New York City area median income or under.

The 441,000-square-foot tower will feature various amenities, including concierge and valet services, an indoor swimming pool, and other common areas.

Part of the old design competition:

Vision: 222 East 44th Street, Three Different Designs By Kaufman For Midtown East Residential Tower


Building App:

“If I have done the public any service, it is due to my patient thought.” ― Isaac Newton

~ My Stamford, CT Thread ~―~ My Danbury, CT Thread ~

Last edited by Urbannizer; Apr 23, 2019 at 6:41 AM.