As basis work proceeds on two dramatically styled downtown condo towers, the high-profile riverfront challenge simply landed the money basis it wanted.
Atlas Capital Group nailed down a $985 million building mortgage to construct the towers at 570 Washington Road and 80 Clarkson Road, which it’s growing with Zeckendorf Improvement and Baupost Group, sources instructed The Publish.
The contemporary financing — believed to be the biggest Manhattan residential-construction mortgage since earlier than the pandemic — means the full-block challenge will quickly “go vertical” on the Hudson River web site between Houston and Clarkson streets.
One tower is predicted to be completed in 2026, the opposite in 2027.
A consultant for Atlas didn’t reply to a request for remark.
The Atlas web site says the challenge, which it formally calls 80 Clarkson, “will encompass over 100 luxurious houses in two towers rising as much as 450 toes providing dramatic river and metropolis views from each room.”
A supply stated there will likely be 440 residences in all, together with 170 senior inexpensive ones.
The lenders, based on sources, are London-based Cale Road Companions and San Francisco-based Farallon Capital Administration.
The Publish first reported the event workforce was shopping for the vacant 1.3-acre web site in February 2022, and, later that 12 months, that they secured a $322 million financing bundle from Blackstone – which kick-started the $1.25 billion challenge.
The design architect is COOKFOX, which additionally labored on the St. John’s Warehouse adaptive-reuse challenge subsequent door that’s now residence to Google.
Zeckendorf, which is spearheading the brand new improvement, was additionally behind the so-called “Limestone Jesus” at 15 Central Park West.
The tower has been residence to such boldface names as former Goldman Sachs CEO Lloyd Blankfein, Robert De Niro, Denzel Washington, Alex Rodriguez and NASCAR driver Jeff Gordon.
