Moinian Lands $132M in financing for 2 Washington Street

Square Mile Capital provided the deal

TRD New York /
Dec.December 14, 2018 01:30 PM

Joseph Moinian (Credit: STUDIO SCRIVO) and 17 Battery Place

The Moinian Group scored some new financing for its tower at 2 Washington Street in the Financial District, which is undergoing a partial residential conversion.

Square Mile Capital is providing Moinian with $131.5 million in financing for the work at the 31-story North Building in the two-building, mixed-use complex called 17 Battery Park, according to a new city filing.

The Moinian Group partnered with Collaborative Construction Management to undertake the conversion, which will provide 345 rental units. Nyack College owns part of the 1970s-era building.

Square Mile declined to comment and Moinian could not immediately be reached for comment.

The new financing comprises a senior loan of about $64 million, a building loan of about $60.5 million and a project loan of about $6.9 million.

The financing covers Unit 3A, which includes portions of the North Building’s basement and first floor, and the 2nd through 15th floors, according to its condo declaration.

In October, Moinian landed $140 million in financing from Berkadia Commercial Mortgage for its South Tower, a rental tower at 1 West Street.


Related Articles

arrow_forward_ios
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

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

Democratic State Sen. James Skoufis (Credit: NY Senate)

Real estate agents facing subpoenas after failing to appear at hearing

Blackstone Chairman Stephen Schwarzman (Credit: Blackstone via YouTube)

It will make you laugh, it will make you … cringe: Blackstone’s latest holiday video

From left: 1 West End Avenue, 161 West 13th Street and 66 Ninth Avenue (Credit: StreetEasy and Wikipedia)

Porter House penthouse among NYC’s 5 priciest homes to hit the market last week

15 East 90th Street (Credit: Google Maps)

Lonely townhouse finds a match after years on market

From left: renderings of 1 Propect Park West, 85 Jay Street and 98 Front Street in Brooklyn (Credit: StreetEasy)

The priciest Brooklyn condo filings of 2019

60 East 93rd Street and Carlton Hobbs (Credit: Google Maps and Getty Images)

Why a $68M townhouse listing was abruptly pulled off the market

arrow_forward_ios
Loading...