Taconic, National Close on $204M Construction Loan for Hell’s Kitchen Tower
Taconic Partners and National Real Estate Advisors, LLC closed on a $204-million construction loan with the Union Labor Life Insurance Company for their upcoming mixed-use residential building at 312 W. 43rd St. in Hell’s Kitchen.
Avison Young’s co-leads of Tri-State Debt & Equity Finance, Scott Singer and Andrew Singer, credited senior directors Alan Schwartz and Kathleen McSharry with spearheading the assignment.
The financing provides funding for vertical construction of the project, which will contain 330 luxury rental apartments and more than 40,000 square feet of retail.
“Taconic Partners is one of the most active real estate developers in the city and we’re proud to have closed our first transaction on their behalf,” said Scott Singer. “The closing of this ground-up construction financing is an exciting milestone in New York City’s ongoing and accelerating recovery as well as in Taconic Partners’ plans for building out their vision for 312 W. 43rd.”
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).