RFR Holding together with its Chinese partners Vanke Holdings and China Cinda Asset Management secured $360 million to finance the development of their new luxury tower at 100 East 53rd Street.
Holliday Fenoglio Fowler arranged the funding from the Industrial and Commercial Bank of China, according to a press release. The building, which Aby Rosen’s RFR is co-developing with Hines, is located next to RFR’s Seagram Building on the corner of East 53rd Street and Lexington Avenue. HFF’s Mike Tepedino, Michael Gigliotti and director Jennifer Keller represented the borrowers.
The 61-story luxury tower at 100 East 53rd Street will include 94 residences. Starchitect Norman Foster’s Foster + Partners is designing the tower.
China Cinda paid $140.5 million for a majority stake in the project in March. China Vanke bought a stake in the building in 2014. — Claire Moses