M&T will assume the existing $250 million mortgage on the property and provide $15.7 million in new financing, according to property records.
Representatives for M&T and TF Cornerstone did not immediately respond to requests for comment.
The Bond Street building contains 714 residential units and spans almost 600,000 square feet. The entertainment company behind Chelsea Piers leased 52,000 square feet at the property last summer for a new fitness club.
Yoel Goldman’s All Year Management and Joel Gluck’s Spencer Equity landed a $117.5 million loan for their Downtown Brooklyn rental building at 436 Albee Square last month.