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New York & Tri-State  + Uptown/Bronx  + Finance  | 
Riverwalk 9 will be the final building in a joint venture development project on Roosevelt Island

Related-Hudson JV Closes on Financing for Ninth and Final Roosevelt Island Building

Related Companies and The Hudson Companies have closed on $185 million in construction financing for the ninth Riverwalk building, a development in the Riverwalk neighborhood of Roosevelt Island. The new facility will include workforce housing for Memorial Sloan Kettering Cancer Center employees, market-rate rental apartments and office space. 

The $185-million project includes $111 million of financing from Wells Fargo. In conjunction with the closing, Related and Hudson are executing the ground lease for the site from the Roosevelt Island Operating Corporation.  

The start of work on Riverwalk 9 in the coming weeks will mark the culmination of a more than quarter-century-long effort by the Related-Hudson joint venture. “Riverwalk 9 is the realization of decades of hard work and resiliency through multiple challenges, including economic downturns and a global pandemic, to create new housing opportunities and further support the Roosevelt Island community and New York,” said Related EVP Frank Monterisi.  

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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 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).

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