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Extell Gets Condo Loan Downtown and Buys Time for Midtown Tower | Tony Seruga
Sep
01

Extell Gets Condo Loan Downtown and Buys Time for Midtown Tower

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  • Builder obtains $500 million to build One Manhattan Square
  • Extends Central Park Tower funding deadline to July 31

Luxury-condo builder Extell Development Co. said it obtained a construction loan for a lower Manhattan project after months of delays, and bought more time to get financing for a planned tower on Billionaires’ Row in Midtown.

Extell got a $500 million loan for its One Manhattan Square development from a consortium of lenders including Deutsche Bank AG, Commercial Bank of China and Natixis Real Estate Capital, according to filings Thursday on the Tel Aviv Stock Exchange, where the New York-based company sells debt to investors. The loan could grow to $750 million within nine months, according to the documents, written in Hebrew…

Extell Gets Condo Loan Downtown and Buys Time for Midtown Tower

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