Debt flooded NYC’s development pipeline in March
Debt flowed through New York’s development pipeline in March, with lenders backing everything from a Brooklyn residential megaproject to Midtown trophy office towers. In Williamsburg, Two Trees landed a $460 million construction loan for the next phase of its Domino Sugar refinery development, a pair of residential towers. Across the river, Midtown saw a flurry of office activity, led by a $450 million loan for Global Holdings’ NoMad office tower. Further north, JPMorgan Chase supplied a $417 million loan for Extell’s Ikea-anchored retail and office development and RXR locked in a $408 million loan for its Lexington Avenue renovation. Citadel […]
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