National real estate investor/developer Lightstone announced the closing of financing for 130 William, a new luxury development planned for Manhattan’s Financial District.
The $305 million loan is financed by Mack Real Estate Credit Strategies, L.P.
In the heart of the Financial District, 130 William will stretch 800 feet high, and the building will be one of the tallest in Lower Manhattan. Plans for the development feature luxury condominiums with river views and amenities. Construction has already commenced.
“We had strong demand from the lending community for this loan. It was a complicated and obviously large transaction. The Mack team’s knowledge of development and keen understanding of its nuances was instrumental in its consummation,” said Lightstone president Mitchell Hochberg.
“130 William Street will be a world class luxury condominium with amazing views of the New York Harbor, Manhattan and Brooklyn. It will be one of the tallest buildings in lower Manhattan, and we’re proud to be developing what will be a remarkable 800-foot luxury condominium, complete with superior amenities.”
130 William will feature two floors of amenity spaces, including a wine cellar, pet spa, pool, sauna and massage room, fitness center, basketball court, yoga studio, lounge and game room, screening room, children’s play area, and a rooftop observatory terrace.
Sales are expected to commence in early 2018.