NEW YORK CITY—HFF has arranged $360 million in financing for the development of 100 E. 53rd St., a new luxury condominium project in Midtown East.
HFF worked on behalf of the borrower, a joint venture between RFR Holding LLC and Vanke Holdings LLC/China Cinda (HK) Asset Management Co. to secure the construction loan through the Industrial and Commercial Bank of China. Hines is serving as co-developer of the project along with RFR. Sales and marketing is being handled by Compass and Classic Marketing. '
The HFF debt placement team representing the borrower was led by senior managing director Mike Tepedino, managing director Michael Gigliotti and director Jennifer Keller.
Located on the corner of Lexington avenue and East 53rd street, 100 East E. 53rd St. will have 94 for-sale residences along with ground- and second-floor retail and restaurant space. Due for completion in 2017, the Foster + Partners designed project will have studio, one-, two-, three- and four-bedroom floor plans, along with numerous amenities. The building is adjacent to the renowned Seagram Building at 375 Park Ave.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
