Manhattan House loan extended

Manhattan House condominium conversion developer O’Connor Capital
Partners recently received an extension on its $750 million
construction loan, according to Crain’s. The loan, which was supposed
to expire in the fall of 2011, now has a December 2013 maturity date.
The $1.1 billion conversion of the 575-unit building at 200 East 66th
Street on the corner of Third Avenue began three years ago. So far
around 137 apartments are either sold or in contract. Corcoran Sunshine
Marketing Group took over sales at the building in January 2009. Sales
began in 2007. [Crain’s]