BLDG Management has secured a $425M construction loan from a consortium of international lenders to build a 69-story residential tower in Long Island City.
Greystone arranged the financing for the 824-unit tower, called The Orchard, which will become the tallest residential building in Long Island City when it is completed.
The consortium of lenders was led by M&T Bank, U.S. Bank and Bank of China. Also providing financing was the Israel Discount Bank of New York, City National Bank and Bank Hapoalim.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
