Maddd Equities, Joy Construction land $130M for UES development

Financing for 330 East 62nd Street comes from Natixis

TRD New York /
Dec.December 06, 2019 03:25 PM
330 East 62nd Street, Jorge Madruga and Eli Weiss (Credit: Getty Images)

330 East 62nd Street, Jorge Madruga and Eli Weiss (Credit: Getty Images)

Maddd Equities and Joy Construction have landed a $130 million loan from Natixis for 330 East 62nd Street, according to Joy’s Eli Weiss.

The financing is a five-year commercial-mortgage-backed-securities loan and replaces an $86.25 million construction loan Natixis provided in February 2018. Brad Domenico of Progress Capital brokered the deal.

Memorial Sloan Kettering Cancer Center signed a 48-year lease in 2017 for the entire building, which spans about 90,000 square feet. Joy and Maddd purchased the site in 2014 for $21 million, and tapped Karl Fischer Architects to design the building.

Maddd and Joy are frequently partners, and landed a $64 million loan from Wells Fargo earlier this year for their Bronx affordable housing development at 1159 and 1184 River Avenue. They have also received about $34 million from Natixis for their project in Downtown Newark and $45 million from Bank Leumi for their hotel project in Hell’s Kitchen at 305 West 48th Street this year.


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