Commercial Loan: New York City top ten projects

Commercial Loan: New York City top ten projects

7) Clickbait real estate – $235 million

Home to Facebook and BuzzFeed, Orda Management’s 225 and 235 Park Avenue South was recently refinanced by Barclays for $430 million. Newmark Knight Frank’s Jordan Roeschlaub and a team represented Barclay’s on the deal.

8) Refinance harvest – $230 million

French bank Credit Agricole, also referred to as the “Green Bank” for its history as a financing provider to farmers, put up $230 million to refinance a commercial loan to Westbrook Partners’ Garment District office building at 1375 Broadway.

9) On the mark, on the money – $230 million

Izak Senbahar’s Alexico Group refinanced the Mark Hotel on the Upper East Side with $230 million from JPMorgan Chase. AG did a major overhaul of the property in 2009, a commercial loan creating a five-star hotel with 150 rooms and and 10 co-ops.

10) An accommodating deal – $173.3 million

In another hotel deal to round out the top 10, Starwood Capital Group lent $173.3 million to developers Steve Witkoff and Ian Schrager for 215 Chrystie Street. This commercial loans allowed this building to open last month and is the latest addition to Schrager’s chain of “Public” hotels.

 

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