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Moinian Lands Permanent Refi on Battery Park High-Rise
The Moinian Group has closed a $140-million financing for Ocean at One West Street, the developer’s high-rise multifamily property in Downtown’s Battery Park neighborhood. The 10-year permanent refinancing, secured through Freddie Mac and arranged by Berkadia’s Stewart Campbell, includes a 3.99% fixed interest rate and is full-term interest-only.
“After investing in Lower Manhattan over 20 years ago, we are very satisfied with the prosperous transformation that has gotten the neighborhood to where it is today,” said Joseph Moinian, the Moinian Group’s founder and CEO. “Ocean continues our success in Lower Manhattan, while also expanding our portfolio of best-in-class residential properties throughout the city.”
The refi of Ocean follows on the heels of several Moinian residential projects. Most recently, Moinian completed Oskar, a 14-story, 118-residence luxury rental building on the Far West Side. Oskar is located across the street from Sky, the Moinian Group’s 71-story tower luxury rental building.
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- ◦Financing
