Natixis Co-Leads a Construction Loan to Extell Development of Up to $750 Million for One Manhattan Square, New York City
Deutsche Bank, Industrial & Commercial Bank of China and Natixis Real Estate Capital are co-leading the construction loan for the development of a luxury condominium project in Manhattan’s Lower East Side by Gary Barnett’s Extell Development. CIT Bank and China Merchants Bank are also members of the bank group.
At completion in 2019, the property will contain 815 residential condominium units with 100,000 sf of amenity space, a 105-space parking garage and 45,000 sf of retail space. The residential condominium units will feature high quality finishes and One Manhattan Square’s distinctive location at 252 South Street will offer residents spectacular views of some of New York’s most well-known icons, including the Manhattan, Brooklyn and Williamsburg Bridges, East and Hudson Rivers, Liberty Island, Midtown, One World Trade Center, the Empire State Building and beyond. The property will offer an extensive amenity base including a basketball court, bowling alley, squash court, golf simulator, bar/lounge, pool room, cigar room, wine room, theater, spa lounge, sauna, lap pool, kid’s pool, dog wash, package/dry clean room, bicycle storage, refrigerated storage, fitness room and outdoor landscaped areas.
Contact
Vanessa Stephan
Global Head of External Communication at Natixis CIB, Groupe BPCE
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