789-Foot Lower Manhattan Residential Project Lands $377M Construction Loan

Grubb Properties has landed a total of $377 million in financing for the development of 8 Carlisle Street. At 64 stories and 789 feet, the site is set to become one of the tallest residential buildings in Lower Manhattan.

Maxim Capital Group provided a $300 million senior construction loan, with Skylight Real Estate Partners issuing $77 million in mezzanine debt. Arrow Real Estate Advisors arranged the deal.

Along with this set to be one of the tallest buildings in the Financial District, the Class A site is set to feature 462 units, which would mark Grubb’s largest community in its portfolio. It will operate under the firm’s Link Apartments brand.

Read the full article here: 789-Foot Lower Manhattan Residential Project Lands $377M Construction Loan