Natixis Provides $97M Financing on Hudson Yards Apartments
Natixis Corporate & Investment Banking (CIB) originated a $97-million, five-year, floating-rate financing to a borrower affiliated with principals of Maddd Equities, Joy Construction and the Katz Family to refinance The Lewis, a 186-unit, Class A multifamily property at 411 W. 35th St. in Manhattan’s Hudson Yards neighborhood.
“This execution demonstrates that the New York City multifamily market is in a very healthy place and that competitive financing is still very much available for premier assets and strong sponsors”, said Eli S. Weiss, principal of Joy Construction.
“This transaction illustrates Natixis CIB’s continued focus on core multifamily opportunities with best-in-class sponsors,” said Jared Zimmel, executive director, real estate & hospitality Americas, Natixis CIB. “This financing marks Natixis CIB’s seventh transaction with principals of Maddd Equities and Joy Construction, two companies with a proven track record in the New York City market “
The financing was arranged by Brad Domenico from Progress Capital.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).