The Lewis Receives $86M In Financing
The Hudson Yards Luxury Apartment is refinancing its construction loan.
NEW YORK CITY—West 35th SBXLVI, a joint venture between Joy Construction, Maddd Equities and the family of the late Lewis Katz, received an $86 million floating-rate acquisition loan from KKR Real Estate Finance Trust for the Lewis apartments, located at 411 W. 35th St. Loan proceeds will refinance the construction loan.
The 12-story, 186-unit luxury residential rental building was completed this year. It offers studio, one- and two-bedrooms, averaging 667 square feet. With modern finishes and amenities including custom Italian cabinetry, oak hardwood flooring, soaking tubs, a concierge, a fitness center, residence lounge and terraces, current available listings range from $2,871 to $5,895.
“We are really pleased to have executed this financing facility with KREF,” says Eli Weiss, principal of West 35th SBXLVI LLC. “The Lewis is a first-class boutique building in the most exciting new neighborhood in New York, Hudson Yards. The product speaks to our longstanding commitment and track record of developing high-quality, sensibly priced multifamily assets, and we hope it serves as a tribute to the late Lewis Katz, our friend and partner.” Katz’s son, Drew Katz, was a part of the development partnership.
Holliday Fenoglio Fowler’s Andrew Scandalios, Steven Klein, Geoff Goldstein and Rory Shepard represented the sponsor in negotiating the loan.