NEW YORK CITY—Extell Development has secured a construction loan for up to $750 million to build 252 South St.—or One Manhattan Square—on the Lower East Side.
Deutsche Bank, Industrial & Commercial Bank of China and Natixis Real Estate Capital are co-leading the construction loan. CIT Bank and China Merchants Bank are also members of the bank group.
At completion in 2019, the property will contain 815 residential condominium units with 100,000 square feet of amenity space, a 105-space parking garage and 45,000 square feet of retail space.
The residential condominium units will feature high quality finishes and the building's location will offer residents views of some of New York's most well-known icons, including the Manhattan, Brooklyn and Williamsburg Bridges, East and Hudson Rivers, Liberty Island, Midtown, One World Trade Center, the Empire State Building and more.
The property will offer an extensive amenity base including a basketball court, bowling alley, squash court, golf simulator, bar/lounge, pool room, cigar room, wine room, theater, spa lounge, sauna, lap pool, kid's pool, dog wash, package/dry clean room, bicycle storage, refrigerated storage, fitness room and outdoor landscaped areas.
At completion in 2019, the property will contain 815 residential condominium units with 100,000 square feet of amenity space, a 105-space parking garage and 45,000 square feet of retail space.
The residential condominium units will feature high quality finishes and the building's location will offer residents views of some of
The property will offer an extensive amenity base including a basketball court, bowling alley, squash court, golf simulator, bar/lounge, pool room, cigar room, wine room, theater, spa lounge, sauna, lap pool, kid's pool, dog wash, package/dry clean room, bicycle storage, refrigerated storage, fitness room and outdoor landscaped areas.
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