CSC nabs financing for another NYC conversion

CSC Real Estate has another Manhattan conversion in play, taking up the mantle from David Werner. The developer landed $108 million in construction financing for the office-to-residential project at 300 East 42nd Street, also referred to as 770 Second Avenue, the Commercial Observer reported. SCALE Lending, an arm of Slate Property Group, provided the debt at the Murray Hill property. Arrow Real Estate Advisors’ Morris Betesh, Morris Dabbah and Louis Halperin arranged the financing. CSC is planning to convert 12 of the building’s 18 floors into 140 residential units, 25 percent of which will be affordable and developed under the […] This article originally appeared on The Real Deal. Click here to read the full story.