Northeast

Yellowstone buys defaulted CMBS loan on New York’s 1740 Broadway

The transaction could lead to an office-to-residential conversion for the Midtown office tower.

New York nonprofit seeks to expand minority developer finance platform

The nonprofit finance company aims to fund affordable housing by providing financing and training to help minority-owned real estate developers expand.

L&L’s $911m Park Avenue office refinancing shows strength of trophy market

Monday Properties and Pacific Elm Properties this week also lined up financing for high-quality office assets.

L&L completes $911m refinancing for New York’s 425 Park Ave

The roughly 670,000-sq-ft trophy office is about 90% leased.

Kriss Capital originates $185m loan for Midtown condo financing

The JLL-arranged deal will retire existing debt for Navigation Capital Partners ahead of sales efforts.

Scale Lending originates $150m construction completion loan for Bronx project

The Slate Property Group lending arm has ramped up construction completion lending with increased demand for development capital.

Steinbridge creates debt capital markets, capital raising role ahead of $1.3bn pipeline push 

The firm has hired Jay Dunn from RFR Realty to head up capital raising and debt capital markets as it looks to execute on a heavy multifamily and residential pipeline.

S3 Capital plots more New York housing deals despite affordable tax incentive lapse 

The lack of the 421a abatement in New York City is not stopping the Spruce Capital lending arm from pursuing more creative redevelopment opportunities.

Madison Realty originates $133m loan for Hudson Yards hotel development 

Marx Development Group is building the 51-story, 379-key tower.

Slate originates $60m bridge loan to complete Queens condo project

The New York-based manager is expected to close $300m in loans over the next 30 days as debt funding gaps and needs persist.