Related Companies and Oxford Properties group have landed a $1.2 billion loan to build 35 Hudson Yards.
The Children’s Investment Fund, a U.K.-based hedge fund, provided the debt for the 1,000-foot tall mixed-use tower, the developers said in a release Thursday. The loan covers part of the tower’s $2 billion price tag, which is also being financed through an undisclosed equity investment.
The tower will have 137 condos and an Equinox Fitness Center at the base.
The London-based hedge fund has recently bankrolled a number of high-profile development projects in New York City. The fund provided an $850 million loan for Related and Oxford’s 15 Hudson Yards, a 70-story mixed-use tower that will have 285 market-rate condos and 106 affordable rental units.