$305M Loan Supports Condo Tower Construction

Lightstone has received $305 million to build an 800-foot condominium tower in lower Manhattan. Construction has already started at 130 William St. in the Financial District.

“It will be one of the tallest buildings in lower Manhattan,” said Mitchell Hochberg president of Lightstone, which received the construction loan from Mack Real Estate Credit Strategies. “We had strong demand from the lending community for this loan. It was a complicated and obviously large transaction.”

Sales are expected to commence in early 2018. The tower will feature two floors of amenity spaces, including a wine cellar, pet spa, pool, sauna and massage room. The fitness center will feature a basketball court and yoga studio. There will also be a lounge and game room, screening room, children’s play area and a rooftop observatory.

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