The move continues on their $1.5 billion joint venture, announced a couple of months ago.

Rockwood bought 2 Grand Central for $401 million.

The firm noted that borrowers are currently looking for experienced lenders that can provide flexible solutions.

This adds to the list of residential sites that Beitel has worked on in Mott Haven.

The spike in demand came as both occupancy and rents showed resilience.

While a big focus will be on hotels, the fund will look for opportunities in other asset classes, including multifamily and self-storage.

The deal will give the fintech firm full access to floors 45 and 46.

The market has now turned in favor of landlords.