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Related scores $200M loan for West 30th Street residential tower

The Related Companies has secured a $200 million construction loan for a 30-story Apartment House On A Lot On West 30th Street and 10th Avenue it’s developing with partner Abington Properties, Crain’s reported. The loan is slated to close in early 2012.

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The 400-unit property, located close to Related’s Hudson Yards project, will be constructed under New York State’s 80/20 program. It was not immediately clear when the building would be completed, though sources said it would most likely be before the Coach building at Hudson Yards opens in 2015.

Over the summer, Related and Abington donated the site to Friends of the High Line for a temporary summer public gathering spot, “The Lot at 30th Street,” complete with a 350-seat bar by chef Tom Colicchio, collection of food trucks and a public art exhibition. [Crain’s]

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