Posted Jun 30, 2015, 6:52 PM
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Developers obtain $725 million construction loan for pencil-thin condo tower on Billionaires' Row
Daniel Geiger
June 30, 2015
Quote:
A new super-tall tower will rise along midtown’s so-called Billionaires' Row now that the project’s developers have secured a $725 million construction loan for the $1 billion spire.
A partnership between JDS Development and Property Markets Group has received financing from AIG and Apollo Global Management to build 111 W. 57th St., a 1,438-foot-tall tower that will be the tallest residential building in the Western Hemisphere when it is completed in 2018.
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