A planned 66-story office tower at 350 Park Avenue secured $3.3 billion in construction financing last week, Commercial Observer reported. Lenders and terms were not named.
Ken Griffin is involved in the 350 Park Avenue development alongside Vornado Realty Trust and Rudin, according to the report.
The key diligence question for allocators is which lenders are in the 350 Park capital stack and at what rate, loan-to-cost and maturity.
Reported by the Real estate debt desk from Commercial Observer. Published . Corrections