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Newmark's Jordan Roeschlaub and Dustin Stolly arranged $322 million in financing from Blackstone for 570 Washington St., a luxury residential development in the West Village

Newmark Secures Blackstone Loan for 570 Washington St. 

Newmark arranged the financing for 570 Washington St., a luxury waterfront residential development in Manhattan’s West Village. A joint venture of Zeckendorf Development, Atlas Capital Group and The Baupost Group secured a $322-million financing package from Blackstone.  

The loan proceeds will be used to fund both a portion of the land acquisition and the pre-development work for the project, which is valued at $1.25 billion. Newmark’s Jordan Roeschlaub and Dustin Stolly arranged the financing on behalf of the JV. 

Encompassing a full city block, the two-tower design will rise 430 feet with Hudson River views. The project is the product of an extensive rezoning process, which was led by Atlas for the entire St. John’s Terminal site. 

“We are pleased to have provided financing for the first stage of what will be an unprecedented, one-of-a-kind development,” said Michael Eglit, head of U.S. originations in Blackstone’s Real Estate Debt Strategies.  


Inside The Story

Newmark's RoeschlaubNewmark's Stolly

About Paul Bubny

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 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).

  • ◦Development
  • ◦Financing
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