Blackstone will provide $322M in financing for a $1.25B luxury residential development with two apartment towers that will be built on the NYC waterfront at 570 Washington Street by a joint venture of Zeckendorf Development, Atlas Capital Group and The Baupost Group.
According to a report in the NY Post, Newmark's Debt & Equity unit arranged the financing from Blackstone, which will fund the land acquisition and pre-development work on the project.
The brokerage, which has been growing its equity business by focusing on large JV deals in NYC, also facilitated the trio's joint venture with more than $400M of equity.
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