The Real Deal New York

Goldman Sachs could become lead investor in $275M Kingsbridge Armory project

July 11, 2013 09:30AM

Goldman Sachs head honcho Lloyd Blankfein is in advanced talks for his bank to become the lead investor and arranger of financing for the $275 million Kingsbridge Armory Ice Center project in the Bronx, the New York Post reported.

After a heated debate over possible uses of the site, plans for a 750,000-square-foot sports complex with nine ice hockey rinks were announced in April. Construction is slated to be completed in 2018. If Goldman were to go through with the project, Blankfein would have a central role in bringing hockey to the borough in which he was born.

A Goldman spokesperson declined to comment to the Post about the bank’s involvement in the project, but did say that “Goldman Sachs Urban Investment Group and other financial institutions provided letters of support to the project in March 2012 as part of New York City’s public request for proposals process.” The group has made a significant portion of its $2.1 billion total investment since 2001 in New York City, with a focus on the Bronx and the center of Brooklyn. [NYP]  – Hiten Samtani