Rotem Rosen snags $200M loan for 57th Street condo project

Rotem Rosen landed a $200 million condo inventory loan for his high-rise luxury condo project on Manhattan’s 57th Street, The Real Deal has learned. MRR Development, led by Rosen and Indian billionaire Anand Mahindra, secured the loan from BHI for its 145-unit Malabar Residences at 126 East 57th Street, sources said. The loan replaces a $170 million construction loan from Bank OZK. The new financing will be used to carry costs as the 29-story luxury condo project nears completion. Units at the Malabar range from studio to three-bedrooms with projected sales prices starting at $1.36 million and going to $13.5 […]

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