Broad Street Development recapitalizes FiDi conversion
Broad Street Development has fresh financing and newly added partners for its Financial District conversion project. The firm recapitalized the development at 80 Broad Street for a grand total of approximately $300 million, the Commercial Observer reported. Derby Lane Partners provided $175 million in construction debt, while private equity firm PCCP and One Investment Management filled in the gaps of the broader recapitalization. “This recapitalization marks a major milestone and the formal launch of a residential redevelopment that will transform a historic downtown office tower into a modern residential community,” BSD chief executive officer Raymond Chalmé said in a statement. […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Inside the Search: Choosing the Right Deal in Chicago With
Taka Buranda
It’s a Family Affair: Multigenerational Living Rental Can
Help Landlords Boost Income While Offering Tenants
Affordability
PolicyPro: J-51 reboot flops for rent-regulated landlords,
boosts co-ops and condos
Hotel union deal puts cleaners on track for $100K
salaries
Mamdani targets Brooklyn corridors for major housing
push 
Saunders partners with Premier Estate Properties to link
ultralux markets
RealPage rent-fixing settlements pass $200M (and
counting)
Record High Mortgage Debt Sounds Scary. Here’s What the
Headlines Leave Out.
Richard Born dumps Chambers Hotel for $66M
NYC’s top deals: Benchmark scoops up $42M apartment complex
on UWS
