Brooklyn developer scores financing on one-time David Werner conversion target
David Werner’s loss is Hershy Silberstein’s gain. The Blue Sky Builders honcho landed $102 million in construction financing for the office-to-residential conversion of 311 West 43rd Street in Hell’s Kitchen, the Commercial Observer reported. S3 Capital provided the debt for the redevelopment of the Press Building. Silberstein’s involvement in the project wasn’t previously disclosed. Instead, it appeared that one of New York City’s conversion kings, David Werner, would be spearheading the redevelopment. Werner was in contract to buy the 193,000-square-foot building for slightly more than $40 million, The Real Deal reported in April, about one-third of the $131 million that […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Here’s Where To Start if You’re Selling and Buying at the
Same Time
Biggerpockets Pro Members Can Now Turn Home Equity Into a
Flexible Line of Credit With Aven
Deal Diary: How a Math Teacher Bought 19 Doors
NJ developer sues Bravo Capital over stalled HUD refi on
$100M Newark tower
Puck Building condo sells for $42M in off-market
deal
“Black-ish” creator Kenya Barris lists Beverly Hills estate
for $21M three years after buying
Bondholders in danger of losing more than $80M on
A&E debt
What It Really Costs to Live in Millie Bobby Brown’s
Neighborhood
Manhattan luxury contracts buck late summer slump
Manhattan office availability shrinks to six-year
low
