Maddd Equities, Joy Construction land $130M for UES development
Financing for 330 East 62nd Street comes from Natixis
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.