Posted Jan 4, 2018, 12:26 AM
|
 |
NYC/NJ/Miami-Dade
|
|
Join Date: Jul 2013
Location: Great State of NJ
Posts: 49,342
|
|
Essex Crossing developers sew up $200M in construction financing: Loan will go toward 26-story tower at 180 Broome Street
Quote:
The developers behind the $1.5 billion Essex Crossing megaproject on the Lower East Side have secured $200 million in financing for one of nine buildings at the complex.
The construction loan from Wells Fargo and M&T Bank will allow the development team, collectively known as Delancey Street Associates, to move forward with the largest building at the site, a 26-story tower at 180 Broome Street, according to the Wall Street Journal.
The mixed-use building will have 263 affordable and market-rate apartments, 10,000 square feet of retail space, and 175,000 square feet of office space.
The retail portion will be a part of the planned Market Line, a three-block marketplace that will extend to the neighboring buildings in the complex, at 202 Broome Street and 115 Delancey Street, and connect to the 77-year-old Essex Street Market.
|
====================
TRD
|