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In a market weathering unprecedented change, companies involved in high-stakes real estate deals need a steady, trusted hand to guide them. They also need counsel who can help them find new solutions for tough new challenges. The Paul, Weiss Real Estate Department offers clients the best of both worlds. Our long history of executing every kind of deal touching real property and our business and legal savvy help the most complex real estate projects succeed in fluctuating economic conditions.

Rockefeller Group Receives Loan from Sumitomo Mitsui for New Development Project

Paul, Weiss represented Rockefeller Group Development Corporation in the development financing for a new residential condominium tower project in Manhattan. Sumitomo Mitsui Trust Bank Ltd. led the debt financing, with an approximately $203 million construction loan. As part of the transaction, Global Holdings Management Group made a $52.5 million preferred equity investment in the project. The Rockefeller Group is planning to build a 46-story, 632-foot condominium tower in the Madison Square North district.

The Paul, Weiss team included real estate partners Meredith Kane and Peter Fisch; tax partners David Sicular, Patrick Karsnitz and Brian Grieve and counsel Todd Hatcher; employee benefits partner Andrew Gaines; and environmental counsel William O'Brien.

September 28, 2018

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