Fascitelli’s Imperial Companies snags $134M refi for Hudson Yards tower

Restaurant in the West 38th St. building is expected to open this year

New York /
Nov.November 08, 2017 03:20 PM

Michael Fascitelli’s Imperial Companies just landed a $134 million loan to refinance a 33-story rental tower in Hudson Yards.

MetLife provided the financing for the nearly complete 515 West 38th Street, according to documents filed with the city’s Department of Finance. The financing package included a new $30 million mortgage, consolidated with $103.4 million in previous loans.

Representatives for Imperial declined to comment on the deal. Cushman & Wakefield’s Steven Kohn, Gideon Gil, Adam Spies and Adam Doneger brokered the financing.

The rental tower, known as Henry Hall, has 225 rental units and, according to filings with the New York state Attorney General’s office, has two commercial condominium units, two residential condos and one with an unspecified use.

A two-story restaurant run by Delicious Hospitality — dubbed Legacy Records — is slated to open sometime this year in the building. The restaurant will have an 85-seat dining room and feature “Mediterranean-influenced American” food, according to Bloomberg.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
3 New York Avenue in Jersey City, NJ (Google Maps, iStock)
Developers land $97M for Jersey City multifamily
Developers land $97M for Jersey City multifamily
Hudson Meridian Construction Group founder Bill Cote and a rendering of the Science Park Apartments planned at 201 Munson in New Haven (Hudson Meridian Construction Group)
Breakthrough for beleaguered New Haven project
Breakthrough for beleaguered New Haven project
From left: Scott Rechler and 5 Times Square; Marc Holliday, Steven Roth and 280 Park Avenue (Getty Images, Eden, Janine and Jim from New York City - via Wikimedia Commons)
Swell of maturing debt pressures office owners
Swell of maturing debt pressures office owners
(iStock)
Banks, tech among departures sinking Midtown office market
Banks, tech among departures sinking Midtown office market
Related CEO Jeff Blau and 455 Tenth Avenue (Chris Martin, Google Maps, iStock)
Related launches lodging for executives’ hybrid work
Related launches lodging for executives’ hybrid work
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...