Extell finalizes $1.3B loan for Times Square supertall
Extell Development has finally locked in its $1.25 billion construction financing for a long-awaited Times Square supertall. Gary Barnett’s firm finalized a $1.1 billion construction loan from banks led by JPMorgan. It also secured a $150 million mezzanine loan from U.S. financial institutions this week, according to a filing on the Tel Aviv Stock Exchange. Extell has completed 40 out of 60 stories of the hotel and retail tower at 740 Eighth Avenue, known as “The Torch,” which also has a 250-foot amusement ride. The firm revealed in March 2025 that it signed a memorandum of intent with an unnamed […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
The King’s Observatory—An Historical English Astonishment
Gazing At The Future
New Kitchen Industry Report Reveals Top 5 Wellness
Trends
Your Renovation Has A Shelf Life, And Buyers Know
It.
SL Green nearing resolution with TIAA, Norges in $50M
dispute
Well-Managed Apartment: 9 Signs to Look for Before You
Sign
The “2nd Wave” of the Commercial Real Estate Crash Is
Close
Bond sale tied to Aby Rosen’s 475 Fifth Ave shelved
Deal-sweeteners at an all-time high despite roaring
Manhattan office leasing
Brooklyn luxury contracts tops $100M in four-month
high
Databricks doubles space to 120K at Savanna’s 5 Bryant
Park
