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

Financing for 330 East 62nd Street comes from Natixis

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.


Related Articles

arrow_forward_ios
Gary Barnett and Jay and Stuart Podolsky in front of 1645 First Avenue (Getty, Google Maps)
Gary Barnett site has one problem: the Podolsky brothers
Gary Barnett site has one problem: the Podolsky brothers
Ron Perelman, Blackstone Group executive Tony James and 35-39 East 62nd Street (Getty, Google Maps)
Tony James revealed as buyer of Ron Perelman’s defaulted debt
Tony James revealed as buyer of Ron Perelman’s defaulted debt
1305 Third Avenue and 1307-1309 Third Avenue (Google Maps)
3 UES buildings are slated for demolition
3 UES buildings are slated for demolition
Miki Naftali and the corner of Madison and East 86th Street. (Getty, Google Maps)
Naftali Group nabs $102M loan for UES condo project
Naftali Group nabs $102M loan for UES condo project
Joan Rivers and 1 East 62nd Street (Getty, Sotheby's)
Joan Rivers’ longtime UES penthouse hits the market for $38M
Joan Rivers’ longtime UES penthouse hits the market for $38M
From left: 944 Fifth Avenue, 67-69 East 93rd Street and 15 East 88th Street (Google Maps)
Three Manhattan sellers aim high asking $25M+ for luxury pads
Three Manhattan sellers aim high asking $25M+ for luxury pads
Businessman Ron Perelman (Getty, Serena Boardman)
Ron Perelman publicly lists Upper East Side townhouse with price cut
Ron Perelman publicly lists Upper East Side townhouse with price cut
Renderings of 310 East 67th Street and Longfellow Real Estate Partners CEO Adam Sichol (Friends UES, Rendering by DBOX, Longfellow)
Blood Center’s plans for big Upper East Side HQ draw criticism
Blood Center’s plans for big Upper East Side HQ draw criticism
arrow_forward_ios

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

Loading...